TA seeks bankers for DiscoverOrg auction: sources

TA Associates is interviewing banks for a possible sale of DiscoverOrg, two sources familiar with the situation said.

DiscoverOrg could fetch $800 million to $900 million, one of the sources said.

“They’re getting ready to sell it,” one of the sources said of TA.

Founded in 2007 and based in Vancouver, Washington, DiscoverOrg provides market intelligence information to businesses.

In 2014, TA, along with FiveW Capital, invested an undisclosed amount in the company. More recently, in March, DiscoverOrg raised another round of funding from investors including Goldman Sachs BDC, NXT Capital, Silicon Valley Bank and Antares Capital. It’s unclear how much the company has raised. In 2015, DiscoverOrg acquired iProfile.

TA might opt to wait on selling DiscoverOrg until late 2017 or early 2018 because of the company’s speedy growth, the second source said. In August, DiscoverOrg said it had more than doubled its staff and now employed more than 300 people. Revenue had grown more than eightfold over the past four years, the statement said.

This year, DiscoverOrg placed No. 1409 on the Inc 5000 list for 2016, the annual ranking of the fastest growing private companies in America. DiscoverOrg had $44.4 million in revenue, Inc said.

Antares, TA and NXT declined comment. DiscoverOrg, Goldman, FiveW and Silicon Valley Bank could not be reached for comment.

Action Item: Reach DiscoverOrg CEO Henry Schuck here: henry.schuck@discoverorg.com.

Photo courtesy ©iStock/AndreyPopov