Bow River Capital’s Software Growth Equity Team Makes Sixth Platform Investment in ProductPlan, a SaaS Market Leader in Product Management Software
Global Tech Company Takes First Institutional Investment to Drive an Accelerated Build-Out of Its Full Suite of Applications, Continue Scaling Operational Infrastructure and Profitable Growth
ProductPlan announced that it has selected Bow River Capital’s Software Growth Equity (SGE) Team to partner for operational and innovation expertise on a global scale. Founded nearly ten years ago, the SaaS firm develops cloud-based product management systems across all industry verticals and all sizes of organizations. The majority investment will enable the company to rapidly accelerate product innovation: strategic product ideation, best-in-class roadmap execution, comprehensive launch planning, collaboration across the extended community of product managers, executives, and external partners, and analytics for data-backed decision-making.
Bow River’s SGE team invested approximately two years conducting market research in the product management system’s space and recognized the massive opportunity set with ProductPlan’s world-class software solutions and decided to move forward with the majority recapitalization.
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Jim Semick, Co-Founder of ProductPlan, states, “We have boot-strapped the company from day one, and unanimously supported the highly differentiated thesis work and major investment from Bow River’s Software Growth Equity team. We’re excited to work with their team of deep operational SaaS veterans and seek rapid value creation that will positively impact ProductPlan’s customers, partners, and staff.”
Diana Ciontea, VP Finance and executive leader at ProductPlan said, “The ProductPlan team is thrilled to welcome Bow River Capital, leaders in strategically scaling lower middle market SaaS firms as our partner. We are proud of our culture and successfully reaching multiple major milestones; we now have ample resources and capital to accelerate growth across all dimensions.”
As part of Bow River’s SGE majority-controlled investment, fund managers Maitlan Cramer and John Raeder will lead ProductPlan’s Board of Directors.
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Bow River Capital Director and SGE team member Maitlan Cramer stated, “We have spent significant time analyzing the product management industry and have developed strong conviction for a sea change occurring across the product management landscape, and ProductPlan’s multiple value propositions for their global clients and partners.” Cramer further stated, “We’re thrilled to be working closely with the company to deploy our SaaS playbook and all our resources to rapidly build out their software platform, upshift their client success model, and launch a world-class go-to-market engine.”
Morrison & Foerster LLP served as legal counsel to Bow River Capital on the transaction.
D.A. Davidson & Co. was the exclusive financial adviser to ProductPlan.
