Mainsail Partners has made an investment in Ncontracts, a provider of vendor compliance and contract management software and services. Ncontracts will use the growth capital investment from Mainsail to grow its product development, compliance services, and sales and marketing teams, as well as to pursue potential acquisitions.
Ncontracts products are used primarily by financial institutions – banks and credit unions – to maintain information on vendor contracts and to provide alert notifications that allow for proactive management of the vendor relationship. Ncontracts was founded in 2009 and is headquartered south of Nashville in Brentwood, TN (www.ncontracts.com).
“Ncontracts’ software and compliance services are guided by an exceptional executive leadership team. The company has proven it is a trusted partner of bank and credit union executives throughout the country,” said Stephen Wolfe, a partner at Mainsail Partners.
Mainsail Partners invests from $5 million to $25 million in US and Canadian companies that have revenue of $4 million to $50 million. Sectors of interest include software and software as a service (SaaS); technology-enabled business services; E-commerce and Internet; financial technology and services; healthcare IT and services; and franchising business models. The firm was founded by Gavin Turner and Jason Payne in 2003 and is based in San Francisco (www.mainsailpartners.com).
“We are very pleased to announce this important milestone in our company’s growth plan,” said CEO and Founder Michael Berman. “Vendor management and compliance are hot button issues, especially for financial institutions. Organizations need to manage new and changing risks arising from constantly evolving regulations and emerging technologies and services. The combination of Mainsail’s company-building experience and the infusion of growth capital will allow us to accelerate innovation, continue to deliver best-in-class products and services for our customers, and power the next phase of growth for Ncontracts.”
Ncontracts marks Mainsail’s second investment in the greater Nashville metropolitan area in the last year. In October 2014 Mainsail invested in Playmaker CRM, a cloud-based customer relationship management provider used by post-acute care companies. Playmaker is based in Franklin, TN.
2015 PEPD • Private Equity’s Leading News Magazine • 5-14-15
