Author: gradycampbell

San Francisco, California – June 4, 2020 – Sverica Capital Management LP (“Sverica”), a private equity investment firm, announced today that Sverica and Salesforce Ventures have made a strategic investment in Coastal Cloud LLC (“Coastal Cloud” or the “Company”), one of the largest and fastest growing independent Salesforce consulting partners in the United States.

Based in Palm Coast, Florida, Coastal Cloud was started in 2012 by Co-Founders and Managing Partners Sara and Tim Hale with the goal of creating a modern consulting firm focused on client outcomes and led by expert, onshore consultants who enjoy the flexibility of the company’s “live at the beach, work in the cloud” business model. Coastal Cloud is focused on diversity as one of the largest woman-owned Salesforce consulting partners, with women making up over 40 percent of the Coastal Cloud team.

Rooted in a strong culture and powered by passion for delivering value to clients through next-generation technologies, Coastal Cloud has grown rapidly and become a Salesforce Platinum Partner while driving high client satisfaction and recognition as the top-rated Salesforce consulting partner on G2. With a broad range of capabilities and expertise across a wide range of Salesforce solutions, the company serves as a partner to commercial, public sector, and non-profit organizations throughout their digital transformation journeys.

“Tim and I are delighted to have Sverica and Salesforce Ventures join the Coastal family and accelerate our next generation of growth.  We will double-down on our industry-specific solutions and multi-cloud capabilities to help our clients achieve new levels of scale, agility, efficiency, and service.  The current crisis demonstrates the power of our business as our Care4COVID and CARES Act solutions have been conceived, built and deployed to clients in a matter of weeks.  This collaboration extends our unique culture, values, and relentless focus on exceptional client service.  We are excited about the future with our team, our clients and our partners”, said Sara Hale, Co-Founder and Managing Partner at Coastal Cloud.

“Cloud services has been a longtime focus for Sverica and now, more than ever, companies need to digitally transform the way they connect with their customers, employees, and partners. Coastal Cloud’s solutions not only enable their clients to succeed by deploying Salesforce’s leading technology stack, but they also provide core business processes and dashboard driven analytics to allow them to operate more efficiently and effectively. We are excited to partner with Tim, Sara, and the whole Coastal team to build upon their success and support their rapid growth,” said Jordan Richards, Managing Partner at Sverica.

Sherrick Murdoff, Vice President of Partner Investments at Salesforce, said “Coastal Cloud has been a longstanding and fast-growing partner of Salesforce and well-aligned with Salesforce values demonstrating a commitment to diversity in the workplace. The investment from Salesforce Ventures will help further their efforts within the Salesforce ecosystem and lead innovation for customers.”

Ryan Harstad, Partner at Sverica, added “Over the years we have gotten to know Sara and Tim, we have been increasingly impressed with the company that they have built. Their vision is apparent in Coastal’s rich culture, the quality of its team, and the client relationships cultivated over multiple years and projects. With a solid platform for continued growth and rising demand for the innovation and efficiency that Salesforce can offer, we see blue ocean ahead of Coastal Cloud.”

About Coastal Cloud
Coastal Cloud is a Salesforce Platinum consulting partner based in Palm Coast, Florida. Through its unique consulting business model, the Company provides implementations and managed services to assist clients in migrating to next-generation systems. Coastal Cloud, one of the fastest companies to achieve Platinum status with Salesforce, was named to Inc.’s Best Workplaces in 2020, including making the Editor’s Top 10 List. For more information, please visit www.CoastalCloud.US.

San Francisco, California — February 27, 2020 – Sverica Capital Management LP (“Sverica”), a private equity investment firm, announced today that it has made an investment in Cytracom (“Cytracom” or the “Company”), a leading provider of cloud-based unified communications (“UCaaS”) software and solutions built exclusively for the Managed Service Provider (“MSP”) channel.

Based in Dallas, TX, Cytracom has over two thousand MSP partners throughout North America.  As the move to the cloud continues, Cytracom’s UCaaS offering enables its partners to expand their service portfolios and provide true end-to-end managed IT services. The Company plans to invest further into features that empower its MSP partners to better sell, support, and manage UCaaS for their customers.

“Our focus has always been on enabling MSPs to deliver best-of-breed cloud-based voice and messaging solutions,” said Zane Conkle, co-founder and CEO of Cytracom. “A huge driver of our growth has been our transformation into a truly comprehensive UCaaS offering. This investment from Sverica allows us to accelerate our growth and empower more partners with a leading channel-only UCaaS solution for their portfolio.”

The senior management team, including co-founder and CEO Zane Conkle, will continue to lead the Company. Frank Young, Managing Partner at Sverica, along with Michael Dougherty, Vice President at Sverica, will join Cytracom’s Board of Directors.

“Through its commitment to innovation and reputation for reliability, Cytracom has positioned itself to take advantage of the tremendous market opportunity and widespread adoption of cloud communication solutions,” said Frank Young. “We look forward to partnering with Cytracom’s senior leadership as they drive the Company through the next phase of growth.”

About Cytracom
Founded in 2008 and based in Dallas, TX, Cytracom provides unified communications software exclusively through the MSP channel. With a proprietary platform built on flexible, cloud-based technology, Cytracom delivers a UCaaS suite tailored to small and medium-sized business needs. The Company’s 100% channel-driven model provides its end users the ease and comfort of working with a local, trusted managed service provider. To learn more visit www.cytracom.com.

San Francisco, California – February 25, 2020 – Gener8 LLC (“Gener8”), a portfolio company of Sverica Capital Management LP (“Sverica”), announced today that it has completed its acquisition of Symbient Product Development, LLC (“Symbient”), a leading provider of design engineering for polymer life sciences consumables, based in Carlsbad, California.

With the acquisition of Symbient, Gener8 will expand beyond its core focus on advanced instrumentation to add companion consumable devices and will now offer customers a complete turnkey instrument and consumable solution for their engineering and manufacturing needs. In addition to long-standing core competencies in design engineering, rapid prototype mold fabrication and injection molding, Symbient has developed assembly capabilities to facilitate low-to-medium volume manufacturing. Combined with its deep expertise in materials science and fluid dynamics, Symbient has emerged as a key player in the point-of-care diagnostics and drug delivery markets.

“The team at Symbient has built a tremendous business, taking on high complexity engineering projects with best-in-class turnaround times,” said David Brakenwagen, Gener8 CEO. “We are already collaborating on a number of customer programs which are yielding great success and are excited to provide this differentiated end market solution with the decades of combined technology, know-how and experience.”

“Symbient’s focus has always been on meeting our customers’ needs – top-flight engineering, quality product, fast turnaround time. We saw a likeminded partner in Gener8 on the instrument side and look forward to the additional resources and synergies to provide solutions to our customers on a larger scale,” added Scott Castanon, Founder and CEO of Symbient.

Alira Health served as a strategic advisor to Gener8 on the transaction.

About Gener8
Gener8, founded in 2002, offers full product lifecycle engineering and manufacturing for highly complex instruments and products within the highly regulated Life Sciences and Medical Device markets.  The services that Gener8 provides allow for an agile and fast time to market solution that results in high reliability solutions for customers.  With locations in Sunnyvale, CA and Boston, MA Gener8 operates in the corridors of innovation and maintains all industry specific certifications.  For more information, please visit www.gener8.net.

About Sverica Capital Management
Sverica Capital Management is a leading growth-oriented private equity firm that has raised over $1.1 billion across five funds. The firm acquires, invests in and actively builds companies that are, or could become, leaders in their industries. Since inception, Sverica has followed a “business builder” approach to investing and takes an active supporting role in its portfolio companies. Sverica devotes significant time and internal resources to help its management teams develop and execute growth strategies and proactively looks for levers to pull to accelerate growth by reinvesting back into those companies. Sverica firmly believes in building businesses collaboratively that can endure for the long term by starting with a strong foundation and bringing the right people and playbook to drive reinvestment and ultimately strong returns for our investors. For more information, please visit sverica.com.

Boston, Massachusetts – Feb 3, 2019 – Sverica Capital Management LP (“Sverica”), a private equity investment firm, today announced that on February 1st it made a strategic investment in Procare LTC (“Procare” or the “Company”), which operates closed door pharmacies servicing the long-term care segment.

Based in Farmingdale, New York, Procare is a leading operator of pharmacies in New York, Connecticut, Massachusetts and Ohio serving skilled nursing, assisted living, and other long-term care facilities. Founded in 2007 by Tom Hyde and Paul Meyeroff, both trained pharmacists and veterans of the long-term care pharmacy sector, Procare was built from the ground up to provide the highest level of service to its partner facilities and patients. Procare currently services more than 150 facilities in five states and employs more than 400 staff across its markets.

Sverica’s strategic investment will help facilitate Procare’s expansion into new markets.  Tom Hyde, Founder and CEO commented, “We are excited about partnering with Sverica to take Procare to the next level. Our search for a capital partner focused on firms that understood Procare’s unique service model, which separates us from larger, national competitors. Sverica appreciated that Procare’s service level is at the heart of Procare and shared our vision for how to expand responsibly into new markets without sacrificing quality.”

Dave Finley, Managing Partner at Sverica said “We are pleased to partner with Tom, Paul and the entire Procare team to expand into new geographies. Procare’s tremendous growth over the past several years is a testament to their culture and customer-focused model.” Gregg Osenkowski, Partner at Sverica added “Procare has reimagined the long-term care pharmacy business by focusing relentlessly on the small details that matter to facilities and patients. We are looking forward to helping the Procare team continue their impressive growth while maintaining the high standards of quality and service that they have exhibited in their existing markets.”

About Procare LTC
Procare LTC was formed in 2007 by veterans of the long-term care pharmacy sector that realized the need to go back to more personalized customer service fundamentals of quality care. Procare LTC was founded on a basic premise—to provide the highest level of customer service while delivering the best economic value to the facilities and residents we serve. This is achieved through highly qualified and trained staff at every level or our organization. Collectively, we understand the importance of providing positive clinical outcomes in a cost-effective manner.  Exceeding your expectations is what we are all about.  For more information, please visit www.procareltc.com.

San Francisco, California – November 12, 2019 – Sverica Capital Management LP (“Sverica”), a private equity investment firm, announced today that it has made a strategic investment in Gryphon Networks Corp. (“Gryphon” or the “Company”), a leading provider of sales performance management and compliance software.

Based in Boston, Massachusetts, Gryphon offers an enterprise-grade computer telephony integration platform that automatically screens, collects, and analyzes phone-based sales activity data from any device to transform activity into accurate, actionable sales insight that drives improved sales performance for many of the country’s top consumer-facing companies.  Purpose-built for organizations with large, distributed sales teams, Gryphon’s system enables agents to use the platform from any device, managers to leverage robust analytics tying activity to desired outcomes, and executives to rest assured that sales efforts comply with marketing privacy regulations and internal business rules.  Sverica’s investment aims to help Gryphon accelerate development of new sales performance management functionality and expand around its strong team to maintain high satisfaction among Gryphon’s loyal customers while meeting increased demand.

Jeff Fotta, CEO of Gryphon, said “Gryphon has independently developed into a significant player in the sales performance management industry. With Sverica, I am excited to have Jordan Richards and Ryan Harstad as experienced partners who understand and support our vision.  We are looking forward to entering a new phase of growth and broadening our award-winning sales intelligence platform. Sverica will provide the essential direction and resources for Gryphon to continuously add strategic value for our customers.”

“Gryphon’s SaaS solutions are well positioned in the fast-growing sales performance management and compliance markets.  We have been impressed with the results they have driven for their customers and are looking forward to partnering with management, building on their success and creating a company that has the potential to lead the category,” said Jordan Richards, Managing Partner at Sverica.

Ryan Harstad, Partner at Sverica, added “Gryphon addresses key challenges facing sales executives today, namely capturing sales activity that is not simply self-reported, connecting activity to results, and protecting their brands with compliant communications.  We are excited to collaborate with Jeff and the Gryphon team to drive ROI for Gryphon’s growing base of customers.”

Boston, MA and San Francisco, CA – October 17, 2019 – Sverica Capital Management, a leading growth-oriented private equity firm focused on the lower middle market, announced today the promotion of Ryan Harstad to Partner effective immediately.

David Finley, Managing Partner, noted, “This promotion reflects the many years of dedication and hard work that Ryan has contributed to our firm and portfolio companies.”

“We are excited to welcome Ryan into our partnership,” added Jordan Richards, Managing Partner. “His deep industry domain expertise resonates with entrepreneurs helping them execute on various growth strategies and drive value for our investors.”

Frank Young, Managing Partner, also commented, “We expect that Ryan will continue to help us find new attractive investment opportunities.  He will be an important part of our growth as we look to invest our latest fund.”

Ryan Harstad joined the Sverica San Francisco office in 2011 and has over eleven years of private equity experience.   He focuses on sourcing and evaluating new investments, transaction execution, and portfolio company operations for technology, technology services and software companies.  He graduated magna cum laude with a BS in Analytical Finance from Wake Forest University and earned an MBA with honors from the Wharton School at the University of Pennsylvania.  He currently serves as a Board Member at 7Summits, iWave Information Systems, Stream Companies and Synoptek.

Boston, MA and San Francisco, CA – October 8, 2019 – Sverica Capital Management (“Sverica”), a leading growth-oriented lower middle market private equity firm, announced today the first and final close of its fifth private equity fund, Sverica Capital Partners V (“Fund V”). After three months in the market, Fund V exceeded its target, was oversubscribed and closed at its hard cap of $450 million of total limited partner commitments. Sverica will use Fund V to continue its strategy of investing in companies that are, or have the potential to be, category leaders within their respective industries. Sverica will also remain focused on businesses within the technology, business services, healthcare and high-value industrial sectors.

Dave Finley, Managing Partner at Sverica, said, “We appreciate the strong interest that was shown by the LP community in our investment strategy, enabling us to close at the hard cap within a three-month effort. This is an important step forward for Sverica that will allow us to further invest in the firm’s capabilities in our pursuit of industry-leading results.”

Sverica invests in companies at the lower end of the middle market in its sectors of focus. Fund V will target businesses with enterprise values of up to $150 million with strong growth characteristics and differentiated solutions or products. Sverica looks for opportunities to partner with talented business leaders and assist them on their growth journeys, with the hope of achieving goals together that they would be challenged to meet without Sverica’s support. Sverica’s investment returns are driven by identifying areas to reinvest back into businesses, augmenting a company’s talent, and building systems, processes and infrastructure to scale an organization during its investment period.  Over many years, Sverica has built its own set of best practices and standard operating procedures to support a repeatable and consistent investment process that will endure over the long-term.

Jordan Richards, Managing Partner said, “We are extremely flattered by the strong support we received from our existing investors and the positive reception from new investors. We are excited about the opportunity to continue to partner with talented executives throughout Fund V as we endeavor to help them grow category leading companies and push to new pinnacles within their respective industries.”

Frank Young, Managing Partner commented, “The success of this fundraise is a testament to our outstanding team and the passionate, hard work of a long list of current and former Sverica employees, partners and advisors. We are fortunate to have developed relationships with so many talented, high character people over the years, and are forever grateful for their contributions to Sverica and our portfolio companies.”

Sverica has raised over $1.1 billion across five funds and invested in 34 portfolio companies since inception.