Shore Group Associates, a provider of data management solutions, has raised an undisclosed amount of funding. The investor was ClearPoint Investment Partners.
SAN MATEO, CA, September 11, 2017 – ClearPoint Investment Partners (“ClearPoint”), a private equity firm investing in business services companies in the lower middle-market, today announced that it has made an equity investment in Shore Group Associates (“Shore”). Founded 10 years ago by CEO, Ian Sax, and Managing Director, Krishna Veerareddy, Shore is a leading provider of data management solutions, preparing and processing unstructured data for enterprises and institutions across industries.
Shore collects, cleanses, catalogues, and transforms unstructured data into actionable information and insights. Through a powerful combination of analytics, proprietary technology, and a strong team of quantitative and research experts, Shore enables businesses to effectively extract and enrich critical information and improve key decision making. Over the last decade, Shore’s solutions have been trusted by top-tier financial services, healthcare companies, and educational institutions to solve some of their most complex data challenges. The company also maintains longstanding partnerships with many of the leading software data technology providers. Additional information is available at www.shoregrp.com.
Ingrid Mazul, Co-Founder and Partner of ClearPoint, said, “We are excited to work with such a talented team led by Ian and Krishna and to provide the financial and strategic resources that will accelerate the company’s next phase of growth. Shore’s deep subject matter expertise and robust data solutions provide a compelling offering to companies seeking to more efficiently manage large amounts of unstructured data.”
“Krishna and I have built our business into a strong competitor that will benefit from ClearPoint’s proven expertise in growing companies like ours. We look forward to our new partnership that will help strengthen our market position, enhance our product innovation, and expand the company’s distribution channels,” said Mr. Sax.
Carty Chock, Co-Founder and Partner of ClearPoint, “The investment in Shore fits directly within our investment strategy of partnering with talented entrepreneurs at key inflection points. We see numerous avenues to materially increase company value and capitalize on an enormous market opportunity. ClearPoint looks forward to utilizing our extensive network and robust industry knowledge to advance Shore as a leading platform in the data solutions space.”Mr. Chock and Ms. Mazul will serve on the Shore Group Associates Board of Directors.
About ClearPoint Investment Partners
ClearPoint Investment Partners invests in business services companies in the lower middle-market. ClearPoint targets businesses at key inflection points, where its extensive operating approach, deep industry expertise, and tailored strategic resources can accelerate growth and materially enhance company value. ClearPoint’s collaborative and cross-functional team has decades of experience in the firm’s target sectors and a strong record as company builders. Additional information is available at www.clearpointinvest.com.