U.S. private equity firm GI Partners has acquired a majority stake in Doxim Inc, a Markham, Ontario-based provider of customer engagement software-as-a-service solutions to the financial services industry, from Strattam Capital. No financial terms were disclosed for the deal, which will see Doxim’s management team, led by CEO Chris Rasmussen, continue to hold a significant interest. Rasmussen said the new partnership with GI will help Doxim “build the foundation for our next phase of growth.” Founded in 2000, Doxim has more than 1,700 bank, credit union and wealth management clients. It was acquired by Strattam, a U.S. private equity firm, in 2014.
Doxim Announces Majority Recapitalization From Strattam Capital to GI Partners
Acquisition Will Drive Investment into Doxim’s Market-Leading Customer Engagement Platform and Accelerate Company Growth
TORONTO, March 1, 2018 /PRNewswire/ — Doxim Inc. (“Doxim”), a leading provider of customer engagement and content management SaaS solutions for financial services organizations, today announced that GI Partners (“GI”) has acquired a majority stake in the company from Strattam Capital (“Strattam”). Doxim’s existing management team will maintain a significant ownership in the company.
Founded in 2000, Doxim helps over 1,700 clients in the financial services industry digitize the consumer experience to create better connections at every touch-point and dramatically improve service at a fraction of current operating costs. Doxim’s offering includes its enterprise content management platform and statements solutions, which comprise digital composition, delivery, and archiving, as well as print services. The Doxim Customer Engagement Platform enables omni-channel customer experience that improves long-term loyalty and drives wallet share.
Chris Rasmussen, CEO of Doxim, said “We are excited to welcome GI as a partner for this new chapter and thank the Strattam team for helping us build the foundation for our next phase of growth. We have become the technology provider of choice for financial institutions across North America with relentless passion for delivering quality, innovation, and superior customer service. GI’s experienced team and commitment to the growth of our business strengthen the promise we have made and direction we have outlined to our valued clients, partners, and employees.”
“It has been wonderful to see Doxim’s progress since our initial investment,” said Bob Morse, Managing Partner and co-Founder of Strattam. “When we first met Chris, we were impressed by his goals for the company, and we knew that we had the people and tools to make those goals reality. We agreed to a 5-Point Plan before we signed the deal to make a meaningful difference in the company’s growth curve by augmenting its process, team and market reach. What the company has achieved is outstanding, even by the ambitious goals we had at the outset. Chris and the team have done a fantastic job in positioning the company for future growth.”
Travis Pearson, Managing Director at GI Partners said, “Doxim’s leadership in customer engagement solutions, its sizable market opportunity, and the company’s intense focus on its clients’ success all combine to create a unique opportunity. We are excited and proud to partner with Chris and the Doxim leadership team to help them continue their emphasis on innovation and growth.”
Doxim represents the second portfolio investment in GI Partners Fund V, a $2.8 billion fund raised in 2017. Shea & Company acted as exclusive financial advisor and Wilson Sonsini Goodrich & Rosati acted as legal advisor to Strattam. Kirkland & Ellis acted as legal advisor to GI Partners. Additional terms of the transaction were not disclosed.
Doxim is a leading provider of SaaS-based customer engagement software for banks, credit unions, and wealth management firms. Doxim’s Customer Engagement Platform helps financial institutions transform their client experience, communicate effectively throughout the client lifecycle, and improve cross-sell and upsell activities that drive increased wallet share. The platform addresses key digitization challenges, from automated account opening, through improved, personalized communications to anytime, anywhere content access, tailored to a client’s channel preferences. This eliminates costly traditional paper-based, manual processes and enables cost-effective provision of an omni-channel customer experience that delights customers and improves their long-term loyalty. Headquartered in Markham, Ontario, Doxim has offices throughout the United States and Canada. Find out more at www.doxim.com.
About Strattam Capital
Strattam Capital is a private equity firm with an innovative and focused approach to scaling established business IT companies. Our team’s alignment and engagement practices are designed to deliver a better future for our companies. Strattam has offices in Austin and San Francisco. To learn more visit www.strattam.com.
About GI Partners
GI Partners is a private investment firm based in San Francisco. The firm has raised $16 billion in capital from leading institutional investors across the globe. GI Partners’ private equity team focuses on investments in the IT Infrastructure, Healthcare, Software, and Services sectors. For more information on GI Partners and its entire portfolio, please visit www.gipartners.com.
For GI Partners:
Chris Tofalli Public Relations LLC
GI Partners Investor Relations
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