Spectrum Equity has made an investment in Datassential, a provider of data and market research to food manufacturers, chain restaurants, and food retailers.
The investment from Spectrum is the company’s first institutional capital and will be used to expand its client services team, staff of analysts and experts, sales and marketing capabilities, and new product development.
“Datassential is a company that’s all about new ideas, and this transaction allows us to pursue more of them than ever before,” said Jack Li, who leads the Datassential team. “Our partnership with Spectrum Equity is great – we’ve got several jaw-dropping innovations that this allows us to pursue with an amazing stack of resources.”
“The Datassential team has built an innovative product suite that its customers love. The company is positioned to capitalize on the vast opportunity ahead by expanding its industry-leading service approach to new areas in food, as well as around the world,” said Jeff Haywood, a managing director of Spectrum Equity.
Spectrum Equity invests in growth companies in the information industry with a specific interest in internet and digital media; communications, media and entertainment; and software and information. “Our partnership with Datassential fits seamlessly with Spectrum’s long history of working with leading industry-focused, online information services companies. We look forward to supporting the company as it pursues its exciting vision for the future,” said Mike Farrell, a managing director of Spectrum Equity.
Spectrum closed its eighth fund, Spectrum Equity VIII LP, with $1.25 billion in capital commitments in October 2017. The firm was founded in 1994 and has offices in Boston and San Francisco (www.spectrumequity.com).
Intrepid Investment Bankers was the financial advisor to Datassential on this transaction.
© 2019 Private Equity Professional | September 16, 2019
