Tag: investment

Austin, TX – December 10, 2025 – Sverica Capital Management LP (“Sverica”) announced today the sale of its Fund V portfolio company Coastal Cloud Holdings, LLC (“Coastal” or the “Company”) to Tata Consultancy Services Limited (or “TCS”) for $700 million. This marks the culmination of a five-year successful partnership with Coastal, during which the Company more than quadrupled in size while maintaining best in class profitability and solidified its market leadership as one of the largest and fastest growing Salesforce partners in the United States.

Based in Palm Coast, Florida, Coastal was founded in 2012 by Sara and Tim Hale with the goal of creating a modern consulting firm with a singular mission: helping organizations achieve more using Salesforce and data. The Company provides strategy, implementation, and modern managed services to assist clients in migrating to next-generation systems via a long-term “clients for life” approach that executes on each customer’s Data and AI roadmap. Coastal has executed exceptionally on its founding mission, surpassing 8,000 successful projects to date and delivering measurable outcomes for their clients as showcased by their perfect 5/5 rating on the Salesforce App Exchange.

Coastal has experienced significant growth since Sverica’s initial investment in June 2020. Under Sverica’s ownership, Coastal built a dedicated go-to-market function, made strategic investments in Data and AI, introduced offerings in other next generation ecosystems such as Snowflake, and significantly expanded its team with talented executives. As a result of these efforts, Coastal has received numerous industry accolades including: named #1 Salesforce Consultancy by G2 (3x winner); named Salesforce & AI Leader by ISG; and earned Partner Innovation Award from Salesforce (3x winner). Additionally, Coastal continues to be a thought leader for Salesforce, holding six Partner Advisory Board positions.

Jordan Richards, Managing Partner at Sverica, said, “I am grateful to Tim and Sara Hale for the trust they placed in Sverica over five years ago, choosing us as the partner and steward of the business they built. It has been a rewarding experience collaborating with the extraordinary team at Coastal to build what is now recognized as a category-defining consultancy across the Salesforce, Snowflake, and data and AI ecosystems. The strategic addition of Eric Berridge to lead the company two years ago was a game-changing moment that solidified the platform for this successful outcome. We are confident that Eric and the entire Coastal team are well positioned to blaze new trails and achieve new heights as a member of the TCS organization.”

Eric Berridge, CEO of Coastal, said, “This is a landmark day for Coastal as we join teams with Tata Consulting Services.  Our partnership with Sverica was critical in helping Coastal to scale its business and become the #1 Salesforce and AI consultancy in North America.  Our future is bright as our Coastal team is prepared to take our services to new heights with the scale and innovation that TCS is known for globally.  We are grateful to the team at Sverica for their thoughtful and diligent leadership that they provided during our partnership.”

Sara and Tim Hale, Co-Founders of Coastal, added “Since founding Coastal in 2012, we have focused on providing the best technology consulting services in our industry and growing by building the strongest team of professionals in the marketplace. When we sought a partner to accelerate our trajectory in 2020, we prioritized one that was founder-friendly and respected our unique culture. Sverica proved to be an exceptional partner, providing not just the capital but the strategic expertise and operational support that allowed us to innovate and scale without ever compromising our core values. That shared vision was essential to reaching this milestone. We are now excited for this next phase of growth and customer success with the global reach and capabilities of TCS. The synergies of TCS and Coastal offer our clients and people an incomparable range of outcomes in this new era of data and AI.”

” It has been an honor to partner with Coastal. From our very first meeting at Dreamforce in 2018, it was clear that Coastal was a special organization led by visionary co-founders in Tim and Sara. Their intense focus on customer success and innovation created a strong foundation for the incredible organic growth that Coastal has achieved. Eric and the talented Coastal team not only continued the Company’s momentum but also increased the Company’s strategic bets on innovation and thought leadership leveraging data and AI. As a result, Coastal is positioned to continue delivering immense value to customers as it joins forces with TCS,” said Ryan Harstad, Partner at Sverica.

About Coastal

Since 2012, Coastal has helped more than 1,700 organizations do more with Salesforce, Snowflake, and data. Led by former Salesforce executives, enterprise IT veterans, and industry experts, Coastal’s heavily certified team brings breadth of knowledge to deliver fast, measurable impacts – powered by automation-driven delivery and solution accelerators. From data modernization to Agentforce to Salesforce innovation, you can count on Coastal to solve today’s – and tomorrow’s – most complex challenges. Coastal is proud to have a perfect 5/5 rating on the AppExchange, ISG’s recognition as the leading Salesforce & AI consultancy, six Salesforce Partner Advisory Boards seats, and three Salesforce Partner Innovation Awards. Discover more at www.coastalcloud.us, or connect with Coastal on LinkedIn.

Boston, Massachusetts – September 16, 2025. Sverica Capital Management LP (“Sverica”), announced today the sale of its portfolio company RMS Healthcare Management, (d.b.a “Med First” or the “Company”). During Med First’s partnership with Sverica, the Company grew from 13 to 27 clinics with 2 additional under letter of intent, while increasing profitability nearly four times and solidifying its market position as a leader within the North Carolina primary care market.

Headquartered in Raleigh, NC and founded in 2007 as a small network of urgent care clinics, Med First is one of the leading primary care providers throughout the Carolinas, operating a “hybrid” medical clinic model that provides both primary care and primary-care-on-demand services. Med First has been a leader in value-based care since entering the space in 2019, achieving strong accountable care organization (ACO) quality outcomes and shared savings growth in a highly cost-effective manner through utilization of a mid-level staffing model.

Med First focuses on serving patients in tier-2 and rural markets that are generally underserved by healthcare providers. Med First experienced growth during Sverica’s investment period through a combination of organic new clinic openings, acquisitions of multiple single-clinic practices and broadening clinical service offerings to patients. Med First also participated in an at-risk ACO, achieving increasing shared savings income in each year of its participation.

Dave Finley, Managing Partner at Sverica, said, “The Med First business model and strategy of serving Tier-2 and Tier-3 communities with a primary care on-demand offering proved to have value in the marketplace. It has been a pleasure working with the senior team over these years. Paul Feneck’s leadership through many challenges allowed us to build one of the largest independent primary care models in North Carolina and I look forward to watching him continue to drive growth under new ownership.”

Paul Feneck, CEO of Med First, stated, “Med First has had a positive impact on hundreds of thousands of Carolinian lives by delivering quality care in some of our most needy communities. The evolution of Med First from delivering predominantly urgent care services to a primary care/family practice with a broad array of offerings that deliver comprehensive whole health to entire families would not have been possible without the guidance, support and collaboration with Sverica. They have played a very strategic role in our transformation and growth, and I would like to thank Dave Finley, Doug Patrican, and the rest of the Sverica team for their consistent engagement, steady hand, and unwavering support of the Med First leadership team.”

About Med First

Established in 2007, Med First is one of the largest independent providers of primary care services in North Carolina. Its mission is to provide access to care in traditionally underserved markets. Headquartered in Raleigh, NC, the company operates twenty-seven clinics and treats over 220,000 patients annually. Med First is recognized for providing exceptional levels of quality of care and consistently achieves one of the industry’s highest levels of patient satisfaction. As healthcare continues to transition, Med First has positioned itself as a leader in delivering “value- based-reimbursement,” models with over 50,000 attributed lives under management. The company’s corporate support services eliminate the additional burden of labor and administrative challenges placed upon practitioners and their teams by implementing technological resources, operational support, and evidence-based clinical best practices. The executive management team has over 120 years of combined heath care experience and is led by Paul Feneck, President & CEO.

For more information, please visit https://thinkmedfirst.com/

Austin, Texas – September 9, 2025 – Sverica Capital Management LP (“Sverica”), a private equity investment firm, announced today that it has made a strategic growth investment in Raken (“Raken” or the “Company”).

Based in Carlsbad, California, Raken is a field management software provider to the construction industry focused on streamlining reporting and project oversight. The Company’s platform includes features such as daily progress reporting, time and production tracking, safety and quality management, as well as workforce management. Raken serves over 4,500 construction firms, subcontractors, and general contractors.

“This new chapter with Sverica represents an exciting milestone for Raken,” said Ty Kalklosch, CEO of Raken. “Their experience supporting high-growth software companies will help us continue to serve our customers’ expanding needs, build innovative new solutions, and broaden our field management platform for the construction industry.” Kalklosch will continue to lead the Company, while Jordan Richards, Managing Partner at Sverica, and Michael Dougherty, Principal at Sverica, will join Raken’s Board as part of the transaction.

“Raken has built an impressive platform that solves real problems for construction professionals,” said Jordan Richards, Managing Partner at Sverica.  “We are excited to partner with Ty and the talented Raken management team as we reinvest back into the company, launch new product features and ultimately aspire to lead the category.”

Michael Dougherty, Principal at Sverica, added, “Raken is helping contractors automate key workflows and digitize what have historically been processes managed with pen and paper. The market opportunity and the team’s vision for the product are compelling.”

About Raken

Raken is a leading field-first construction management platform. With over 70,000 users, Raken’s easy-to-use app is built to streamline all critical field workflows – from daily reports, to time and production tracking, resource scheduling, safety management, RFIs and more. Real-time information flows from field to office so teams stay aligned, data becomes more reliable, and decision making improves. Raken’s simple mobile experience, powerful integrations, and industry-leading support, help contractors save time and money, reduce risk, and keep projects on track. For more information, visit https://www.rakenapp.com/.

Austin, TX – January 29, 2025 – Sverica Capital Management LP (“Sverica”), a private equity investment firm, today announced the successful closing of a continuation fund transaction for Stream Companies Holdings, LLC (“Stream”, or the “Company”), a leading provider of marketing software and services primarily serving U.S. automotive dealers and original equipment manufacturers. This transaction marks a milestone in Sverica’s partnership with Stream and underscores Sverica’s continued commitment towards supporting Stream through its next phase of growth.

In the Stream continuation fund transaction, Sverica’s fourth flagship fund (“Fund IV”) offered existing investors the option to roll over their equity and continue participating as an investor. The continuation fund investment was led by RCP Advisors and Churchill Asset Management, with additional participation from several other new investors along with reinvestment from Fund IV’s rolling LPs and GP. Sverica’s fifth flagship fund also made a new investment in Stream, and the Stream Co-Founders and the Stream and fullthrottle.ai management teams rolled over a substantial equity stake.

Since Sverica’s initial investment in April 2019, Stream has grown revenue and EBITDA materially. The Company has further solidified its leadership in the automotive sector by establishing new key partnerships and dramatically increasing the number of relationships held with original equipment manufacturers. Under Sverica’s ownership, Stream has also made inroads into new end-markets and significantly enhanced the fullthrottle.ai SaaS platform through strategic reinvestment and product led growth.

“Stream’s customer centric approach and commitment to providing the best service and outcomes for its clients has proved to be a winning combination over the Company’s long history,” said Jordan Richards, Managing Partner at Sverica. “It has been a pleasure partnering with David Regn and the talented team at Stream and fullthrottle.ai.  We look forward to supporting them as the Company continues to grow.  Lastly, we are excited to continue to reinvest into fullthrottle.ai, a groundbreaking first party data and audience solution that we believe is poised to take market share in the years to come.” 

“We are thrilled to continue our collaboration with Sverica as Stream and fullthrottle.ai embark on the next phase of their journeys,” said David Regn, Co-Founder and CEO of Stream. “Our partnership with Sverica has been a cornerstone of our success. As Stream enters its next chapter, we believe we are well-positioned to unlock the full growth potential of fullthrottle.ai, capture additional market share in the automotive sector, expand our non-automotive client base, and pursue strategic M&A opportunities.” 

About Stream Companies Holdings

Headquartered in West Chester, PA, Stream is comprised of Stream Agency and fullthrottle.ai. Stream has become one of the leaders in data driven retail marketing and fullthrottle.ai has emerged as a prominent ad tech operating system with three distinct patents in first party data collection, media activation and measurement and safe data matching.  fullthrottle powers agencies, brands and media companies entire ad tech ecosystem. The Company has been recognized by the Inc. 5000’s list of fastest growing private companies seventeen times, by Best Places to Work in PA five times, and by the Philadelphia100 list nine times. For more information, visit www.streamcompanies.com and www.fullthrottle.ai.