- Embrace Software — a company that acquires and invests in niche vertical-SaaS and on-premise software — announced recently that it raised a $100 million credit commitment from CoVenture. These are the details.
Embrace Software — a company that acquires and invests in niche vertical-SaaS and on-premise software — announced recently that it raised a $100 million credit commitment from CoVenture, an asset management firm investing across the capital stack of tech-enabled companies.
This funding round from CoVenture will allow Embrace to continue to acquire software companies. And the company previously completed a $20 million equity fundraise, bringing total capital raised to date to $120 million. And the company has already completed 4 acquisitions; AQ2 Technologies in March of 2021, EpowerDoc Inc, a HealthTech business in August, and Radiant RFID, an Industrial IOT business in October. Mohan Plakkot, founder and CEO of Embrace, brings his deep industry experience into play with each acquisition, having acquired over 20 software companies throughout his career.
The Tampa-based company seeks out successful companies in the United States and Canada that provide industry-specific solutions within niche vertical market software. And Embrace accelerates the existing growth of these companies and invests in their businesses to push them to their true potential. The company – which is led by entrepreneurs and enterprise technologists – looks for 100% buyouts or majority-owned investments in software companies with revenue in the range of $3 million to $30 million.
KEY QUOTES:
“We see each acquisition as a partnership with the management teams that operate the business. Embrace builds on this trust by providing tools and inhouse expertise to accelerate growth and profitability. In Coventure we have a partner who truly understands our vision of blitz scaling software businesses through acquisitions and look forward to building on this support.”
— Mohan Plakkot, CEO and Founder of Embrace Software
“Mohan’s ability to identify and execute acquisitions of software companies is only matched by his ability to drive ongoing profitability post-acquisition. CoVenture is extremely excited to partner with Embrace and to help drive continued growth.”
— Michael Breitstein, Principal at CoVenture
