Waud Capital invests in CyberGrants

Waud Capital Partners LLC has invested in CyberGrants LLC. Financial terms weren’t announced. Andover, Massachusetts-based CyberGrants provides software-as-a-service solutions for corporate social responsibility.

PRESS RELEASE

ANDOVER, Mass., June 1, 2015 /PRNewswire/ — CyberGrants, LLC, a leading provider of software-as-a-service (SaaS) solutions supporting employee engagement, grants management and corporate social responsibility, today announced that it has received a substantial equity investment from Waud Capital Partners, LLC, a leading middle-market private equity firm headquartered in Chicago, IL.

Since its founding in 1999, CyberGrants has delivered fully-hosted web-based solutions to many of the largest companies and foundations in the world, including 40% of the Fortune 100.  Through its integrated grants management and employee engagement suite, CyberGrants connects companies, foundations, employees and not-for-profits to support the delivery of more than $2.5 billion of charitable giving worldwide annually.

“We are very excited for our team and our clients,” said Sean Flanagan, co-founder of CyberGrants.  “To date, CyberGrants has grown and operated without the support of outside capital.  However, as we now look to take the next step as the premier supplier of grants management and employee engagement software, we see a unique opportunity with a well-capitalized partner to accelerate our growth in all aspects of corporate social responsibility and further distinguish ourselves as the market leader.  We selected Waud Capital as our partner because of our shared vision for the future, their extensive history and expertise developing market-leading companies, and the leadership brought by Mark Layden, all of which will allow us to be even more successful.”  The company’s founders, Sean and Karen Flanagan, will retain a significant ownership position alongside Waud Capital and will continue to have an active role with the company.  Mr. Flanagan will also serve on its board of directors.

Coincident with the investment, Mark Layden has been appointed as the company’s Chief Executive Officer.  Mr. Layden is an accomplished software executive with over 25 years of leadership experience within the application software industry, including both start-up companies as well as large global enterprises such as SAP AG and FICO.  Mr. Layden was most recently Chief Operating Officer of Applied Systems, Inc.  During his tenure, the company became the largest provider of insurance agency management software in North America, with more than 1,100 employees serving over 14,000 clients.

“I am delighted to join CyberGrants and its team of highly motivated professionals,” said Mark Layden.  “The company has an extraordinary mission in helping customers administrate charitable giving and volunteerism on a global scale. We will continue to invest in product sophistication while delivering best-in-class client services, and will look to broaden and enhance our service offering at every opportunity.  I am looking forward to working with the team to provide corporations, foundations and not-for-profits with ever improving philanthropic and social responsibility solutions.”

Matt Clary, Partner at Waud Capital Partners commented, “Our partnership with Mark and the team at CyberGrants is a reflection of our strategy to create long-term value by partnering with talented executives with proven track records of success.  We invest behind those teams in market-leading companies with extensive growth opportunities that our capital can help further accelerate.  We are thrilled to be partnering with CyberGrants and look forward to a future of exciting growth potential as we continue building a leading provider of corporate social responsibility software.”

About CyberGrants
CyberGrants is a leading provider of software-as-a-service solutions for corporate social responsibility.  Since its founding in 1999, CyberGrants has delivered fully-hosted web-based SaaS solutions to many of the largest companies and foundations in the world, including 40% of the Fortune 100.  Through its integrated grants management and employee engagement suite, CyberGrants connects companies, foundations, employees and not-for-profits to support the delivery of more than $2.5 billion of charitable giving annually.

For additional information on CyberGrants, visit www.cybergrants.com.

About Waud Capital Partners
Waud Capital Partners is a private equity investment firm founded in 1993 that partners with exceptional management teams to invest in middle-market growth equity investments, buyouts, industry consolidations, and recapitalizations.  The firm seeks to invest $20 million to $100 million in private companies and focuses on healthcare services and business and technology services.   Typically, the companies in which WCP invests have enterprise values between $30 million and $300 million.  The firm has successfully completed more than 160 investments since its founding and currently has approximately $1.3 billion of capital under management.

For additional information on WCP, visit www.waudcapital.com.