Sverica Capital Management has made an investment in Gorilla Logic. This investment is Sverica’s seventh platform investment from its fourth fund which closed in March 2016 at its hard cap of $275 million.
Gorilla Logic provides software development and consulting services. The company’s capabilities include user interface design (UI) and user experience (UX) development; front and back-end web development; software development and operations (DevOps); quality assurance testing; Internet of Things development; and web and mobile data analytics. Gorilla Logic emphasizes a cloud-first approach and is both a Microsoft Gold Partner and an Amazon Web Services Consulting Partner.
“We are excited for Gorilla Logic to enter into the next phase of growth and capitalize on the foundation we’ve built as a leading provider of nearshore Agile software development teams,” said Stu Stern, CEO and co-founder. “Sverica has a track record of supporting companies at our stage through continued growth, and they recognize the value of our service offering as well as the strong culture of excellence that we’ve built at the company. We are pleased to have them as partners.”
Sverica invests from $10 million to $40 million in US or Canadian-based companies with enterprise values under $100 million. Sectors of interest include information technology, business services, healthcare services and high-value industrial products. Sverica was founded in 1993 and has raised over $700 million of capital across four funds. The firm has offices in Boston and San Francisco (www.sverica.com).
“We believe Gorilla Logic is well-positioned for continued growth given the positive trends we see around the increasing proliferation and importance of software applications, digital transformation, and the adoption of DevOps and Agile software development methodologies,” said Frank Young, Managing Partner at Sverica. “The company’s longstanding relationships with blue-chip enterprise customers signifies their ability to execute and truly become a strategic partner for the software development organizations they serve.”
Gorilla Logic, founded in 2002, employs nearly 300 software developers with a headquarters in Boulder, CO and a development center in San Jose, Costa Rica (www.gorillalogic.com).
© 2018 Private Equity Professional | October 29, 2018