Gemspring Capital has acquired Westlake Village, California-based Cforia Software LLC, a provider of order-to-cash automation software. No financial terms were disclosed.
WESTPORT, Conn.–(BUSINESS WIRE)–Gemspring Capital, a middle-market private equity firm, is pleased to announce its acquisition of Cforia Software, LLC (“Cforia”), a leading provider of order-to-cash (OTC) automation software.
Based in Westlake Village, CA, Cforia’s OTC automation software platform improves collections and cash management for B2B customers globally. Co-founders Chris Caparon and Dave McIntyre designed the Cforia platform to allow companies to accelerate the conversion of accounts receivable to cash and better manage credit exposure, leading to significant cost of capital and expense reductions for customers. Cforia’s success has been driven by superior technology that leverages proprietary, real-time data integration tools that work across complex and disparate ERP systems. Gemspring’s investment will enable Cforia to continue to develop its robust product offering, enhance its sales and marketing capabilities and accelerate growth.
Chris Caparon, CEO of Cforia, commented: “We are confident that Gemspring’s expertise, resources and capital will help Cforia accelerate growth and take the next step in its evolution. We look forward to leveraging these resources to expand our marketing and sales strategies and to continue developing and deploying product enhancements that serve our growing global customer base.”
Aron Grossman, Managing Director at Gemspring, added: “Cforia’s highly regarded software solution has enabled its customers to streamline the A/R management process, reduce working capital needs and generate consistent and attractive ROIs on their investment in Cforia’s platform. We are excited to partner with Chris, Dave and the entire Cforia team to build on the successes achieved to date in the next stage of growth.”
About Cforia Software, LLC
Cforia Software, LLC is a global enterprise solutions provider, delivering industry leading working capital and accounts receivable (A/R) automation software. Cforia’s expertly designed, automated order-to-cash platform makes B2B interactions simple, delivering everything clients need to create seamless customer experiences and drive better business results. With intelligent order-to-cash software solutions, Cforia empowers its clients to make every day an A/R success story. For more information, visit www.cforia.com
About Gemspring Capital
Gemspring Capital, a Westport, Connecticut-based private equity firm with $1.1 billion of equity capital under management, focuses on investing in lower middle market companies headquartered in the United States and Canada. Gemspring partners with talented management teams and helps drive revenue growth and value creation. Target companies have up to $500 million in revenue and are in the software and tech-enabled services, business services, distribution/logistics, financial services, healthcare services, industrial services, or specialty manufacturing sectors. For more information, visit www.gemspring.com.