Accel-KKR has made a growth equity investment in Motor Vehicle Software Corp. Financial terms weren’t announced. Agoura Hills, California-based Motor Vehicle provides process management software for state government agencies and businesses.
Agoura Hills, CA – September 16, 2015 – Motor Vehicle Software Corporation (MVSC), a next-generation provider of innovative process management software for state government agencies and businesses, announced today a significant growth equity investment from Accel-KKR, a leading technology-focused investment firm. The terms of the investment were not disclosed.
The new partnership with Accel-KKR will provide capital for MVSC to further its investment in strategic initiatives and innovation in state-of-the-art technology for public-private partnerships. MVSC’s President and CEO Don Armstrong and Chairman Kelly Kimball will continue to lead the business, managing all day-to-day operations.
MVSC’s award-winning DMVdesk provides the most comprehensive, end-to-end automotive registration software on the market. MVSC’s network processes over 1 million transactions annually. As the largest private provider of electronic vehicle registration services in California, the nation’s biggest auto market, it leads the industry through constant innovation, enhanced service offerings, high standards of customer support and a commitment to data security controls.
“When we founded MVSC 10 years ago, we aimed to reinvent the automotive registration process through DMVdesk, a seamless, comprehensive end-to-end electronic vehicle registration solution,” said CEO Don Armstrong. “Today, we not only offer revolutionary vehicle eFiling software, training and support, but we also are the leaders in technological developments that move forward eGovernment solutions in a wide category of industries.”
“Accel-KKR has a long and successful track record of growing technology companies and we look forward to working closely with its senior leadership and advisors as we continue to develop even more impactful technologies,” Chairman Kelly Kimball added. “Our partnership with Accel-KKR provides us the ability to leverage new resources to achieve greater impact in the industry. It will also accelerate our national growth and expansion plans which will, in turn, support our customers even further.”
Accel-KKR will build on its network of partnerships to infuse MVSC with additional proactive growth strategy opportunities.
“MVSC’s leadership and world class organization has always been forward thinking. We are excited to be partnering with the team to help drive significant and expedient national expansion of its technology solutions as a market leader,” said Jason Klein, Managing Director of Accel-KKR.
About Motor Vehicle Software Corporation
Based in Southern California, MVSC is a next generation public-private partner. Its focus is on developing innovative process management solutions in partnership with state government agencies and businesses across the United States. For the past decade, MVSC’s innovative technology and superior processes have transformed and driven market efficiencies. MVSC’s electronic vehicle registration solution, DMVdesk, currently eFiles more registrations in California than any other provider. MVSC also offers its Registration Management Professional (RMP) training program designed for title and registration clerks at all levels. By enriching communication between its business stakeholders and government agencies, MVSC’s business practices help save time, money and resources. For more information, please visit mvscusa.com.
Accel-KKR is a technology-focused investment firm with over $2.5 billion in capital under management. The firm invests primarily in 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 from minority-growth investments to buyouts, recapitalizations, divisional carve-outs and going-private transactions. The firm has offices in Menlo Park, Atlanta and London. For more information, please visit accel-kkr.com.