Middle-market private equity firm BV Investment Partners has acquired SupportNinja, which provides IT and business outsourcing solutions to startup companies. Financial terms of the deal were not disclosed.
This is M&A deal number 115 that ChannelE2E has covered so far in 2021. See all technology M&A deals for 2021 and 2020 listed here.
SupportNinja, founded in 2015, achieved an annual revenue run rate of $14.8 million in 2020, up about 65 percent from 2019, according to GetLatka.
BV Investment Partners is very familiar with the IT services market. For instance, the private equity firm invested in two ServiceNow partners in September 2020. BV Investment Partners also acquired Apps Associates, an IT services firm, in 2017.
SupportNinja: Outsourcing for Startups
SupportNinja has IT outsourcing support teams in Austin, Texas and Clark, Philippines. The company's service catalog for startup clientele spans:
- customer and technical support;
- back-office support tasks such as data entry and imaging for e-commerce applications;
- content review, management and support for online communities; and
- lead mining to fill CRM systems with "highly targeted B2B leads."
SupportNinja's support services span multiple languages -- including English, Spanish, French, German, Portuguese, Romanian and at least five other options.
BV Investment Partners Acquires SupportNinja: Executive Perspectives
In a prepared statement about the deal, Matt Kinsey, senior managing director of BV Investment Partners, said:
"SupportNinja has made outsourced customer experience management and technical services more attractive to companies through their advanced technology, an ability to scale quickly, proven issue resolution capabilities, and customized solutions for dynamic companies. This represents another founder-oriented transaction for BV and we look forward to partnering with CEO Connor Tomkies to leverage BV's experience in scaling similar businesses to add value to SupportNinja."
Added Connor Tomkies, CEO of SupportNinja:
"We are extremely proud of the company we have built alongside the founder, Cody McLain, and to have worked with him to build SupportNinja into an industry leader. Our culture is aligned with dynamic high growth companies and we look forward to partnering with the BV team to further invest in our business to enhance security measures, our tech-enabled service offerings, and expand geographically."
Concluded Will Weimar, VP at BV Investment Partners:
"SupportNinja operates in high growth market sectors and has significant opportunities to grow within its impressive base of existing customers, while continuing to provide their top-tier services to additional high growth and disruptive businesses. To further the company's growth, we are also targeting strategic acquisitions to expand scale, solution offerings, geographies, and client types."
SupportNinja is the fifth investment in BVIP Fund X, which closed with $1.1B of commitments on February 28, 2020, the private equity firm says.