Bison Capital Partners has made a minority investment in Miva Inc. Financial terms weren’t announced. Miva, of San Diego, provides ecommerce shopping cart software.
AN DIEGO, CA (PRWEB) MAY 09, 2017
Miva, Inc. (“Miva”) announced today that it has closed a growth capital investment from Bison Capital Partners (“Bison Capital”) who will become a minority shareholder in the Company. Rick Wilson, CEO of Miva, stated “This is the first time in our history that we have accepted growth capital. Bison Capital represented a rare opportunity to partner with experienced private equity professionals with an incredible pedigree, while at the same time holding the same vision in Miva’s core values and building upon the growing dominance of Miva in the enterprise ecommerce space.”
“Miva has developed tremendous momentum serving thousands of businesses with its industry leading ecommerce platform suite. We are very excited to invest in this outstanding team and organization to support Miva’s expansion of its portfolio of devoted clients and the services it provides to them,” added Lou Caballero, Partner at Bison Capital.
Mr. Wilson, who has been President and Chief Operating Officer of Miva since 2009, took over as CEO of the firm from former CEO Russ Carroll in April, who will stay on as an advisor to Mr. Wilson and a Miva board member. “We have been approached regularly by VC’s and Private Equity firms for many years wanting to invest in Miva. Bison distinguished themselves as having an identical vision for our technology and deployment strategy, emphasizing the technological superiority of our platform, SaaS deployment, and professional services group while keeping the client experience paramount. We are thrilled to have them as a partner to Miva while management continues to be the majority shareholder group of Miva,” stated Mr. Wilson.
Since 1997, Miva’s ecommerce solution has powered over $100 billion in online sales for some of the most successful B2B and consumer brands in the world. We’ve delivered expertly-designed solutions to help high-growth businesses serve their customers in the most innovative, forward-thinking ways possible. Miva Merchant stores deliver superior online shopping experiences and support sophisticated back-end ecommerce workflows. Miva is the only cloud-based platform that provides a reliable and expandable enterprise ecommerce solution from a single source; we own and manage the Miva Merchant software & our cloud-based hosting environment, and in addition offer a team of experts committed to designing and deploying the most robust and feature rich ecommerce solution available on the market today.
About Bison Capital
Bison Capital is a Los Angeles and New York based private equity firm that makes growth-oriented investments in middle-market companies, for expansion, acquisitions and balance sheet recapitalizations. The firm’s primary investment approach is partnering with entrepreneurs and management teams seeking capital to grow their businesses.