- The investment is valued at $32 million
- Anthony Hayes, a vice president at Mainsail, and Jason Frankel, a partner, will join ProShop ERP’s board of directors
- ProShop plans to use the funds raised to expedite product development and to continue to build upon the services and support provided to customers
Mainsail Partners has made a $32 million growth equity investment in ProShop ERP, a provider of software solutions for precision manufacturing companies.
Anthony Hayes, a vice president at Mainsail, and Jason Frankel, a partner, will join the company’s board of directors.
ProShop is based in Vancouver. The company provides software to manufacturers in regulated industries such as the defense, aerospace, medical and space industries. Customers use the software to improve everyday operations, streamlining processes such as on-time delivery, shop throughput, quoting, set-up times and ISO and AS9100 certifications, etc., within an ITAR and CMMC-compliant cloud environment.
ProShop plans to use the funds raised to expedite product development and to continue to build upon the services and support provided to customers.
“We are excited to partner with a company that is committed to making business management more efficient so manufacturing shop owners can focus on the most important aspect of their business – delivering high quality manufacturing services to the customers who depend on their products,” said Jason Frankel, partner at Mainsail Partners, in a statement.
Mainsail Partners is a growth equity firm that partners with founders of software companies. The firm, which has offices in Austin and San Francisco, has raised more than $2.2 billion in committed capital.