Serent Capital has invested in the Knowland Group, a data and software provider in the hospitality industry. The business was founded by Michael K. McKean in 2004.
Serent Capital, a private equity firm focused on investing in profitable, high growth businesses, announced an investment in the Knowland Group (“Knowland” or the “Company”), a leading data and software provider in the hospitality industry. Founded by Michael K. McKean in 2004, Knowland’s cloud-based sales and catering solution and its competitive intelligence tools help hotels maximize revenue from meeting and conference space. Knowland’s technology is powered by the industry’s most extensive database of events, of organizations that hold these events, and of the key contacts who book them.
Leveraging its principals’ experience investing in the hospitality market, Serent spent considerable time evaluating emerging companies in the hospitality technology sector. “Knowland established itself as a leader in the hospitality technology market by helping hotels maximize revenue from their meeting and conference space by leveraging Knowland’s unique data and technology. Our team is excited about the opportunity to work with Knowland and the great executive team Mike has put together,” said Kevin Frick, co-founder and General Partner of Serent Capital. “Knowland is revolutionizing the group segment of the hospitality industry, and we look forward to working with the team to further that goal.”
“I wanted to be as thoughtful as possible as to the next steps for the business,” said McKean. “Over the last few years, we met a great number of potential partners. At the end of the day, Serent stood out for a number of reasons. Among other things, Serent strong reputation and experience in the hospitality and technology market was compelling. In addition, Serent’s business-building strategy resonated, particularly given the success they have achieved across other firms in their portfolio.”
About the Knowland Group
The Knowland Group is a proven innovator, developing intuitive products and services that aid and support event and group sales in the hospitality industry. The firm’s solutions include the world’s largest database of global event data, cloud based sales & catering (S&C) software and outsourced sales services. The company, headquartered in Washington DC, serves more than 3,000 hotel customers and 25,000 users globally. Knowland was ranked as the 76th fastest growing company (public or private) in North America by Deloitte in 2011 and the second fastest growing company in the travel industry for both 2009 and 2010 by Inc. Magazine.
About Serent Capital
Serent Capital invests solely in growing, profitable businesses. We invest in great businesses that are already successful, delivering compelling solutions that address their customers’ needs. As those businesses grow and evolve, the opportunities and challenges that they face change continually. At Serent Capital, we understand those challenges, as we’ve seen them first-hand. Our principals’ experience includes roles as CEOs, strategic advisors, and board members to successful, growing businesses. By bringing our experience and capital to bear, we help growing businesses thrive. We are highly selective, choosing to invest in only a handful of businesses each year. Our selectivity ensures that all our companies receive the attention and expertise that they need.