Serent Capital has made an investment in Kore Software, a provider of business management software for the sports and entertainment industries. No financial terms were disclosed.
NEW YORK, June 11, 2018 /PRNewswire/ — KORE Software, the leading provider of business management software for the sports and entertainment industries, has entered a partnership with Serent Capital, a San Francisco-based private equity firm focused on investing in high-growth technology and services businesses.
KORE Software’s products and services help more than 100 professional sports teams and 450 properties, brands, and agencies worldwide harness valuable customer and partner data to fuel business intelligence and optimize performance. From fan engagement and data warehousing to sponsorship and premium offerings, KORE delivers an integrated suite of applications to drive insights, efficiency, and profitability within sports and entertainment.
“When KORE entered the sports and entertainment industry over a decade ago, we could never have foreseen that our products would become the industry’s gold standard. This has happened to such an extent that our software is often listed as an important skill on job postings and resumes,” noted Todd Cusolle, co-founder and CEO of KORE Software. “Today, KORE is already building on its rock solid foundation to not only serve new market segments, but also drive even more value for our current customers. Serent Capital is the right partner for us, and together, we will make an incredible impact on the sports and entertainment industry.”
Over the past decade, KORE has maintained above a 99% retention rate by focusing on user friendliness, data integrity, and unparalleled customer success consultation. With applications that benefit multiple departments, such as ticketing, sponsorship, premium and suites, and business intelligence, KORE’s systems often become the operational “backbone” of the organizations they work with.
“Since the beginning, KORE has been entirely bootstrapped with no outside investors,” said Matt Sebal, co-founder and Chairman of KORE Software. “However, our company is growing rapidly and can benefit from outside expertise and resources. Partnering with Serent Capital ensures that we can continue our upward trajectory while continuing to provide the world-class customer success that our clients expect.”
KORE Software and Serent Capital agree that they’ve only begun to hit their stride, and they see a lot of growth opportunity on the horizon. Part of what makes this partnership so beneficial is the mutually aligned vision of how KORE can deliver more efficiency and business intelligence tools to both the property and brand/agency side of the industry.
“KORE’s robust solutions are best-of-breed in the industry. They have already attracted the attention of the world’s leading players in sports and entertainment. At Serent, we think that’s just the beginning of what they can do,” said Lance Fenton, Partner at Serent Capital. “We’re enormously excited to be working with Matt, Todd, and the rest of the KORE team.”
Serent’s partnership with KORE represents its fourth CRM software investment (Commissions Inc, FranConnect, Intygral) and its second investment in the sports management industry (ArbiterSports). Inner Circle Sports LLC advised KORE on the transaction.
KORE is the global leader in sport and entertainment business management solutions. Comprised of KORE Software, and KPI (KORE Planning and Insights), KORE serves more than 100 professional sport clubs and leagues, and 450 brands and properties worldwide, providing practical tools and services to harness customer data, facilitate sponsorship sales and activation, and create actionable insights.
KORE Software’s business management software applications include Ticketing & Fan Engagement™, Sponsorship & Partner Engagement™, Suites & Premium™, and Data Warehouse & Analytics™. KORE Planning & Insights (KPI) is a division of KORE that provides business intelligence consultation and staff augmentation services. For more information about KORE Software and KPI, visit KOREsoftware.com.
About Serent Capital
Serent Capital invests in growing businesses that have developed compelling solutions that address their customers’ needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent helps growing businesses thrive. For more information on Serent Capital, visit www.serentcapital.com.