Crest Rock Partners has made a majority investment in Houston-based CloudNine, a provider of eDiscovery software for legal professionals. No financial terms were disclosed. Canaccord Genuity acted as financial advisor for CloudNine on the deal while Kutak Rock LLP acted as the legal advisor to Crest Rock.
Denver, CO – June 30, 2021 – Crest Rock Partners (“Crest Rock”), a Denver-based private equity firm investing in lower middle market software, technology, services and manufacturing businesses, today proudly announced a majority investment in CloudNine (“CloudNine” or the “Company”). Founded in 2002 and headquartered in Houston, Texas, CloudNine is a leading eDiscovery software suite for legal professionals nationwide.
The CloudNine platform is comprised of a suite of eDiscovery products that provide processing, review, and production capabilities to help organizations efficiently manage and perform key steps in the discovery process. The Company offers both cloud-based and on-premise software for a variety of customer needs varying on size of case, speed of case, and technology preferences. The software’s ease-of-use and CloudNine’s top-notch customer team have built a dedicated user base of legal service providers, law firms, corporations, and government entities that continues to expand over time.
“We look forward to partnering with the team at Crest Rock, who bring meaningful software and technology experience, in addition to capital, to support our strategic goals and help determine the future strategy of the business,” said Tony Caputo, CEO of CloudNine. “We are always improving our value proposition and product to serve more customers, and Crest Rock will help guide our strategic initiatives and set goals for how to get there.”
“CloudNine’s suite of software products provides great value to its customers,” commented Steve Johnson, co-founder and Partner at Crest Rock. “The Company’s reliable technology with easy-to-use features and capabilities has created many satisfied and long-standing customer relationships. The litigation environment is becoming increasingly complex with the growth and proliferation of electronic data. CloudNine is well-positioned to address its customers’ needs with its long-established expertise and differentiated software suite. We are excited to partner with CloudNine as they continue to help a growing list of legal professionals navigate their eDiscovery needs.”
Canaccord Genuity acted as the financial advisor for CloudNine and Kutak Rock LLP acted as the legal advisor to Crest Rock on the transaction.
About Crest Rock Partners
Crest Rock is a Denver-based private equity firm focused on the lower middle market. Founded in 2019, the firm seeks investment opportunities where it can leverage its principals’ extensive operating and investing experience to help companies execute on their strategic initiatives. Through the team’s completion of over 45 acquisitions, divestitures, mergers, and integrations, Crest Rock has developed a differentiated investment process and partnership approach, working with management, founders, and other stakeholders to establish alignment and achieve mutual objectives. Crest Rock targets control investments across multiple industry verticals, including software, technology, IT services, tech-enabled business services, and manufacturing, with enterprise values ranging from $15 million to $150 million. For more information about Crest Rock, please visit www.crestrockpartners.com.
Founded in 2002 and based in Houston, Texas, CloudNine is a technology company with expertise in simplifying the data discovery process for corporations, law firms and legal service professionals nationwide. Through its on and off-premise software brands, including CloudNine Explore™, LAW™, Concordance® and Review™, the company helps its customers gain insight and intelligence on data. CloudNine has been highlighted by industry experts in reports, reviews, and surveys including Gartner, 451 Research, Blue Hill Research, Corporate Counsel Magazine, the Neelectronicw York Journal, and Texas Lawyer. CloudNine also publishes the eDiscovery Daily blog, a popular, trusted source for legal industry information. For more information, visit www.cloudnine.com.