Banyan Software provides a home for successful enterprise software businesses, their employees, and customers to preserve the legacy of founders while helping grow the business into the future. Pulse 2.0 interviewed Banyan Software CEO David Berkal to learn more about the company.
David Berkal’s Background
Could you tell me more about your background? Berkal said:
“I’m David Berkal, the CEO of Banyan Software, and have always been driven by a passion for technology and helping grow great businesses. My background spans entrepreneurship, operations, M&A, and strategy, which ultimately led me to found Banyan. Before Banyan, I held a number of roles, leading growth efforts at VC-backed technology companies, working in traditional investment firms, and as an entrepreneur running a social enterprise I founded.”
Formation Of The Company
How did the idea for Banyan Software come together? Berkal shared:
“My experiences showed me the challenges founders face when considering a sale, often stuck between short-term-focused investors or competitors looking to absorb a business and often dramatically reduce cost. Banyan was created to offer a third option: a permanent home where great software businesses can thrive and grow over the long term.”
Favorite Memory
What has been your favorite memory working for the company so far? Berkal reflected:
“Some of my favorite memories revolve around our annual CEO summit where we bring the leaders of all of our companies together. It’s a packed few days where we share best practices from across Banyan and build community. The best parts are always at the end of the day, often during dinner or at the hotel bar, when people really get into the challenges they are facing and you see their network of peers jump in to talk about how they’ve approached very similar situations themselves. Instilling that camaraderie and ability to share experiences is what makes Banyan so fun to be a part.”
Customer Success Stories
Can you share any specific customer success stories? Berkal highlighted:
“Here are a few stories:
https://banyansoftware.com/2023/01/16/atamis-story/
https://banyansoftware.com/sellerstory_medicat/
And there are more on our website. “
Total Addressable Market
What total addressable market (TAM) size is the company pursuing? Berkal assessed:
“We focus on acquiring and growing successful enterprise software businesses across various industries. While perhaps counterintuitive, we like smaller TAM’s, where companies have deep expertise and knowledge of a particular niche.”
Differentiation From The Competition
What differentiates the company from its competition? Berkal affirmed:
“What sets Banyan apart is our unwavering focus on trust and legacy. We’re not just another buyer—we’re a permanent home for successful software businesses, with a buy-and-grow-for-life strategy that ensures companies thrive without the fear of being resold. We prioritize preserving the unique culture that makes each business special and offer transparency throughout the entire process.”
“We provide operational support and shared services to help businesses grow while maintaining their independence. We invest in people—keeping existing teams in place and offering opportunities for personal and professional development. Our businesses become part of a larger community, with access to an extensive network and resources to ensure long-term success.”
“Our story resonates most with owners who have spent years building great software companies and care deeply about their employees, customers, and the legacies they leave behind.”
Foundation
Can you tell me about the Banyan Software Foundation? Why did you start it? Berkal replied:
“We have always believed in creating an enduring impact through our work by growing and supporting our businesses, taking care of our teams, and having a greater positive impact in the world. We wanted to do something big though and really show how much we live these values. With a $100 million commitment of stock over the next four years, the Banyan Software Foundation will support organizations that leverage technology for a greener and more equitable world. We also have several employee impact programs, including Volunteer Time Off, an Employee Relief Fund for those going through extreme hardship, and a Learning & Development Fund to fund employee skills advancement.”
Organizations Supported By The Foundation
What types of organizations does the Foundation support? Berkal pointed out:
“Our focus areas include equal access to education, upskilling for the future of work, and innovative technologies that drive environmental sustainability.”
“The Foundation is already making an impact with its first two multi-year $1 million grants.
- TransitionZero, based in the UK, maps solar assets to support energy transitions. Our grant is helping to improve access to critical data for effective energy systems planning, empowering countries to pursue sustainable energy solutions independently.
- Merit America re-skills workers through online coursework and personalized coaching, historically increasing their incomes from $26K to $50K in just a few months.
Significant Milestones
What have been some of the company’s other most significant milestones? Berkal cited:
“Some of our significant milestones include welcoming dozens of successful businesses into our family, expanding our presence across North America, the UK, Europe, and Australia and New Zealand. We have also been recognized on both the INC 5000 and the Deloitte Fast 500 lists of fastest-growing companies, reflecting our commitment to growth and excellence.”
Future Goals
What are some of the company’s future goals? Berkal concluded:
“Our main goal is to be known as the best permanent home for successful software companies that serve niche markets around the globe. That requires being great operators and partners and continuing to aim for 100% referenceability with the great entrepreneurs who sell their businesses to us. We are also committed to advancing the initiatives of the Banyan Software Foundation, scaling our positive impact on society and the environment.”
