Boston-based Validity, a provider of data quality and compliance solutions, has raised an undisclosed amount of funding. Silversmith Capital Partners was the lead investor. As a result of this investment, Validity has closed its acquisition of CRMfusion, a provider of data quality software for Salesforce.com customers. And, Validity has appointed Mark Briggs as chairman and CEO.
May 1, 2018 Boston, MA–Validity, a global leader in data quality and compliance, announced today that it has secured a significant investment led by Silversmith Capital Partners, a Boston-based growth equity firm. With offices in Boston, Tampa, London, and Toronto, the Validity team and its leading data integrity platform enables tens of thousands of business executives across the world to trust their data through quality certification services and tools that support IT professionals in resolving the complexities of data management.
With this investment, Validity has completed the acquisition of CRMfusion, a market leading provider of data quality software for Salesforce.com customers. Over the past ten years, thousands of global companies have put their trust in the industry-leading DemandTools, DupeBlocker, and PeopleImport offerings, all of which remain available as part of the Validity platform.
Additionally, Validity announces the appointment of Mark Briggs as Chairman and CEO, who will be based in Validity’s Boston office. Mr. Briggs has over 20 years of experience building and leading high-growth technology companies, most recently as CEO of ABILITY Network, with a strong track record of generating exceptional shareholder value.
“More than ever before, executives in organizations of all sizes are seeking confidence in their data assets, realizing that virtually every important initiative underway requires trust in the underlying data,” said Briggs. “We are excited to welcome the CRMfusion team, and their valued customers, into the Validity family and I could not be happier about partnering with Silversmith Capital Partners on our journey forward.”
“We are very excited to partner with Mark and his senior management team,” said Jim Quagliaroli, Managing Partner of Silversmith. “Used by thousands of businesses around the globe, the Validity software platform is exactly the type of enterprise SaaS business which Silversmith seeks to support. Validity’s significant growth reflects its market-leading position within the data quality and data compliance market.”
Joining the board of directors of Validity, in addition to Quagliaroli, is Sri Rao, Principal of Silversmith; Mike Volpe, CMO of Cybereason and former CMO of HubSpot; and Glenn Wilson, CTO of Validity and co-founder of CRMfusion.
Validity is a leading global provider of a data integrity and compliance offerings that thousands of organizations worldwide rely on to trust their data. With highly-valued products including DemandTools, DupeBlocker, and PeopleImport, Validity is empowering organizations worldwide to make better decisions that drive more leads, close more deals, and confidently plan for continued growth.
For more information visit, http://www.validity.com and connect with us on LinkedIn and @TrustValidity
About Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $1.1 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. The firm seeks to invest $15 million to $75 million per company. Representative investments include ActiveCampaign, Centauri Health Solutions, Digital Map Products, Impact, LifeStance Health, Nordic Consulting Partners, and Partners Surgical. The founders have over four decades of collective investing experience and have served on the boards of numerous successful growth companies including ABILITY Network, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Net Health, Passport Health, SurveyMonkey, and Yapstone. For more information, visit www.silversmithcapital.com.