Accel-KKR has made an undisclosed investment in FastSpring. Santa Barbara, California-based FastSpring is a provider of a cloud-based ecommerce and subscription billing platform.
SANTA BARBARA, CA – February 14, 2018 – FastSpring, an innovative subscription-based platform for powering digital commerce, announced today it has received a majority equity investment from Accel-KKR, a leading technology-focused private equity firm. The new partnership will provide capital and resources to make continued investments in technology and go-to-market initiatives to better serve existing customers and drive continued growth in the digital commerce market.
FastSpring provides a subscription-based platform for powering digital commerce connecting buyers and sellers across the globe and offers payment processing, recurring billing and other value-added modules to enable more efficient global commerce of digital products. Founded in 2005, FastSpring is headquartered in Santa Barbara, CA.
“The FastSpring team has built an impressive customer base and a strong platform for enabling digital commerce,” said Dean Jacobson, Managing Director at Accel-KKR. “We look forward to working with them as they continue to rapidly innovate and drive value for their customers.”
“FastSpring has exhibited strong growth over the last several years by building an end-to-end platform that makes it easy for our customers to sell digital products around the world. We are excited about the opportunity ahead, and we believe Accel-KKR’s experience partnering with software businesses will be valuable to us as we enter our next stage of growth,” said Chris Lueck, CEO of FastSpring.
Tom Barnds, Managing Director at Accel-KKR, said, “We have known FastSpring for many years, and are excited to be able to partner with the team to support and help foster the company’s continued growth.”
Raymond James served as exclusive financial advisor to FastSpring in this transaction.
Accel-KKR is a technology-focused investment firm with $4.3 billion in capital commitments. The firm focuses on software and IT-enabled businesses well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London.
Founded in 2005, FastSpring powers the digital economy with an award-winning, cloud-based eCommerce & subscription billing platform that helps SaaS, software and digital content companies monetize their products and services online around the world. Thousands of companies use FastSpring’s digital commerce platform to manage their online stores and subscriptions and to sell globally by providing a localized experience for businesses and consumers. The FastSpring solution will maximize conversions, increase sales, and grow business—all while providing an outstanding customer service experience.