CIP Capital has made an investment in Fairfax, Virginia-based 3Pillar Global, a developer of digital products. No financial terms were disclosed.
FAIRFAX, Va., March 10, 2020 /PRNewswire/ — 3Pillar Global (“3Pillar”), a leading developer of innovative digital products, today announced it has completed a strategic investment from CIP Capital. The partnership marks the beginning of a new growth phase for 3Pillar as the company focuses on extending its digital development capabilities, expanding its vertical industry focus and global delivery footprint, and pursuing strategic M&A. As part of the transaction, the 3Pillar management team will continue to lead the firm during its next phase of growth and retain a significant ownership stake alongside CIP Capital.
“3Pillar has established itself as a leader across the product development lifecycle and has tremendous potential to accelerate growth. This strategic partnership allows us to supercharge our go-to-market approach and expand our ability to deliver great services to our current and future clients” said David DeWolf, CEO of 3Pillar Global. “We’re excited to partner with CIP Capital to fuel the next phase of incredible work from our 3Pillar team.”
“David and his team have built an impressive business with great potential for continued growth,” said Justin Lipton, Managing Partner at CIP Capital. “3Pillar’s ‘Product Mindset’ drives successful digital transformation in industries like media, information, and technology as well as other rapidly changing markets including retail and financial services. We look forward to helping accelerate their leadership within the software services industry through this innovative approach to digital product development. Our partnership will provide the company with additional investments in sales and marketing initiatives, expand its global delivery footprint, and focus on next-generation capabilities around machine learning, and AI.”
David DeWolf will continue in his role as CEO and welcomes CIP Capital’s Justin Lipton, Managing Partner at CIP Capital, and Mike Grady, Principal at CIP Capital, as members of 3Pillar Global’s Board of Directors.
For more information on 3Pillar Global and their work building software products for digitally-transforming businesses, visit www.3pillarglobal.com.
SunTrust’s Robinson Humphrey acted as 3Pillar’s exclusive financial advisor, and Cooley served as 3Pillar’s legal counsel throughout the transaction.
About 3Pillar Global
3Pillar Global builds breakthrough software products that power digital businesses. 3Pillar is an innovative product development partner whose solutions drive rapid revenue, market share, and customer growth for industry leaders like CARFAX, Fortune, and PBS. Leveraging a lean and agile approach, 3Pillar delivers value-generating, digital solutions with specialized product strategy and management, user experience design, as well as software and data engineering expertise across mobile, cloud, and disruptive technologies. Visit www.3pillarglobal.com for more information and career opportunities. To learn more about the Product Mindset, visit www.productmindset.com and pick up a copy of “The Product Mindset: Succeed in the Digital Economy by Changing the Way Your Organization Thinks,” by 3Pillar CEO David DeWolf and VP of Product Strategy & Design Jessica Hall.
About CIP Capital
CIP Capital is a New York-based private equity firm focused on investing in growth-oriented, middle- market companies across the Business Information and Technology-Enabled Services sectors in North America. The fund seeks to invest in proven, profitable businesses that provide their customer bases with critical information, data-driven insights, and value-added outsourced services. CIP Capital targets investments in sectors including tech-enabled business services, data-driven marketing services, human capital management and knowledge services. For more information please visit: www.cip-capital.com.