Vancouver, Washington-based DiscoverOrg, a sales and marketing intelligence provider, has secured an undisclosed amount of funding. The investors were The Carlyle Group and 22C Capital. As a result of the transaction, TA Associates will retain a “significant” equity stake in DiscoverOrg. Raymond James & Associates and Cascadia were financial advisers to DiscoverOrg while Goodwin Procter LLP provided legal advice to DiscoverOrg and TA Associates. Debevoise & Plimpton provided legal advice to Carlyle.
VANCOUVER – DiscoverOrg, the leading sales and marketing intelligence provider, announced today that it has completed a strategic minority investment by global alternative asset manager The Carlyle Group (NASDAQ: CG), along with additional investment to come from 22C Capital. TA Associates will maintain a significant equity stake in DiscoverOrg.
Patrick McCarter, Carlyle’s Co-Head of U.S. Buyout Technology, Media & Telecom and Managing Director, said, “The DiscoverOrg team has built the industry-leading intelligence platform for sales and marketing teams across the globe. Consistent revenue generation requires accurate and actionable data, and that is what DiscoverOrg delivers. We are delighted to partner with the management team to accelerate growth and foster innovation.”
Todd Crockett, TA’s Co-Head of the North America Services Group and Managing Director, added, “Since the start of our partnership with DiscoverOrg in 2014, the Company has consistently executed against its growth strategy and positioned itself as a clear leader in the middle of the large and fast-growing sales and marketing technology market. We are thrilled to partner with Carlyle to build upon that foundation and support DiscoverOrg in its next chapter of growth.”
Randall Winn, 22C Capital Managing Member and former CEO of Capital IQ, noted, “We are exceptionally pleased to have been involved in DiscoverOrg’s success over the last few years as the team has built a truly unique data platform and developed into a world-class company. We are excited to be in a position to continue to work with DiscoverOrg and invest in Henry’s vision.”
Henry Schuck, DiscoverOrg CEO, said, “The confidence that Carlyle, TA, and 22C have shown in DiscoverOrg is a testament to the incredible value that we are creating for sales and marketing teams everywhere.”
DiscoverOrg’s award-winning sales intelligence platform is designed to provide highly accurate data and insights that sales and marketing teams need to zero in on their unique target market, prioritize accounts and contacts based on likelihood to purchase, and engage the right buyer at the right time with the right conversation – leading to more customers and faster revenue growth.
Equity for the investment came from Carlyle Partners VI, a $13 billion U.S. buyout fund. Raymond James & Associates and Cascadia served as financial advisors to DiscoverOrg. Goodwin Procter LLP served as legal advisors to DiscoverOrg and TA Associates. Debevoise & Plimpton served as legal advisors to Carlyle.
DiscoverOrg is the leading global sales and marketing intelligence tool used by over 4,000 of the world’s fastest growing companies to accelerate growth. The company itself has been named a Deloitte Fast 500 company 2 years in a row and an Inc. 5000 fastest-growing company seven times.
DiscoverOrg’s award-winning solutions provide a stream of accurate and actionable company, contact, and contextual buying intelligence that can be used to find, connect with, and sell to target buyers more effectively – all integrated into the leading CRM, Marketing Automation, and Sales Acceleration tools in the market. Data is gathered and updated through DiscoverOrg’s proprietary combination of technology, tools, and integrations and then verified by an in-house research team – resulting in the highest guaranteed level of accuracy available across B2B sales and marketing data providers. For more information, visit www.discoverorg.com.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $195 billion of assets under management across 317 investment vehicles as of December 31, 2017. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,600 people in 31 offices across six continents. More information about The Carlyle Group can be found at www.carlyle.com.
About TA Associates
Now in its 50th year, TA Associates is one of the largest and most experienced global growth private equity firms. Focused on five target industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in nearly 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in growth companies. TA has raised $24 billion in capital since its founding in 1968, and is investing out of current funds of $7.25 billion. The firm’s more than 80 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.
About 22C Capital
22C Capital is a principal investment firm committed to delivering capital and critical resources to companies operating at the intersection of technology enablement and data analytics adoption. The firm has a dedicated focus on the business services, healthcare and financial services sectors. 22C partners with world-class management teams to build companies that are leaders in their respective markets. The firm’s operational and technology resources, including its affiliated data science organization, deliver practical, real-world support to help convert businesses’ challenges into opportunities and unlock their full potential. For more information, go to www.22ccapital.com