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Private Equity
abscapital.com

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Investments

163

Portfolio Exits

68

Funds

10

Service Providers

2

About ABS Capital Partners

ABS Capital invests in later-stage growth companies, helping CEOs capitalize on new opportunities and navigate unforeseen obstacles – while never losing sight of the ultimate goal of achieving lasting excellence. Its partners have decades of experience as C-level executives, investment bankers and investors in the industries it invests in: business and education services, information and communications technology, and health care.

ABS Capital Partners Headquarter Location

400 East Pratt Street Suite 910

Baltimore, Maryland, 21202,

United States

410-246-5624

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Latest ABS Capital Partners News

Data-Driven Grant Management Technology Leader Fluxx Announces Acquisition by Metamorph Partners and ABS Capital Partners

Oct 21, 2021

Data-Driven Grant Management Technology Leader Fluxx Announces Acquisition by Metamorph Partners and ABS Capital Partners Helmed by CEO Kristy Gannon, Fluxx Drives Measurable Impact for Global Organizations, Offering No Cost Seamless Transition for Grantmakers on Legacy Platforms SAN FRANCISCO, October 20, 2021-- Fluxx, the leading collaborative grantmaking platform for private and public organizations that amplifies impact in global communities, today announced the completion of its acquisition by a syndicate led by Metamorph Partners, an operator-led private equity firm that specializes in B2B SaaS businesses. Co-investor ABS Capital Partners is a growth equity firm that has been investing in leading software and tech-enabled services businesses for more than 30 years. The acquisition has closed and terms of the deal were not disclosed. Today, Fluxx serves 10 of the 20 largest foundations in the U.S., including the MacArthur Foundation, and the Ford Foundation and helps more than 300 foundations and government organizations track and evaluate more than $13 billion in grants each year. Charitable giving encompassed an impressive 2.3 percent of the total 2020 U.S. GDP, mobilizing more than 1.5 million nonprofit and funder organizations and $471 billion of investments in the social sector. “Fluxx has long been the leader in cloud-based grants management software. Their vision and execution around data-driven decisions, as well as their strong product, industry expertise and loyal customer base makes Fluxx a true differentiator in the market,” said Metamorph Managing Partner Bob Tinker. “We believe the acquisition of market-leading Fluxx combined with our operational know-how will be the key to unlock the next phase of growth and further Fluxx’s strategy to drive global impact.” “We are thrilled to join Metamorph to invest in Fluxx,” said ABS Capital General Partner Paul Mariani. “Fluxx has a compelling value proposition for foundations and other grantmaking institutions, and we are committed to helping them scale and expand their product offering under the leadership of CEO Kristy Gannon.” Kristy Gannon took over as the company’s chief executive officer in 2020, but she is not new to Fluxx. Gannon joined the Fluxx team as the vice president of product in 2012, then quickly transitioned to the role of chief product officer and chief operating officer prior to stepping into the role of CEO. With the acquisition, Gannon joins the company’s Board of Directors, along with Tinker, who was named executive chair, and Mariani. Former Fluxx CEO Madeline Duva also retains a seat as a director on the board. A leader in its commitment to foster diversity and inclusion in the workplace, Fluxx boasts gender board parity. “This acquisition reinforces Fluxx as a true global leader in the data-driven grantmaking community, as Metamorph and ABS bring deep deep expertise in the SaaS market and valued guidance for our growth strategies,” said Fluxx’s Gannon. Grantmakers, Traditionally Under Budget Pressures, Migrate From Incumbent Platforms to Fluxx and Pay No Annual Fee Until Current Contract Ends Fueling this growth is Fluxx’s track record of easily and quickly transitioning new customers from incumbent platforms to Fluxx at no cost to the grantmaker. Utilizing a proprietary data migration tool, Fluxx has already moved more than 100 customers away from competing products, and they have done so without budget pressure as new customers do not pay any subscription fees until their legacy contract has expired. Fluxx Customers Breaking Records with Grantmaker Data Core The United Way of Greater Atlanta switched to Fluxx during the recent pandemic. With a newly remote environment and a larger workload, they worried how they would meet the increasing community demands for support. The efficiencies created with Fluxx allowed them to complete a record-breaking 15 grant cycles in 18 months and increase annual giving by 33%, from $60 million to $80 million. “Fluxx is the central repository for all our programmatic data and has become the engine that drives reporting to our donor community. Fluxx is foundational to how United Way of Greater Atlanta pursues our Child Well-Being goals,” says Tim Pakenham, Chief Operating Officer. Fluxx differentiates itself from competitors with its ability to capture, structure, and connect data. “A central component of our cloud-based architecture is the Grantmaker Data Core that allows our customers to improve decisions and maximize impact while also touching every part of the Fluxx platform,” continued Gannon. “Fluxx was built by grantmakers for grantmaking, and it’s one of the biggest reasons our customers experience success.” Additionally, despite the economic downturn that plagued most markets over the past year and a half, Fluxx grew both their revenue and customer base, with new customers including the University of Wisconsin School of Medicine and Public Health, John A. Hartford Foundation, The United Way of Greater Atlanta and the California Department of Toxic Substances Control. About Fluxx Fluxx is the industry-leading cloud-first grantmaking solution. Purpose-built by grantmakers for grantmaking, Fluxx is women-led, a DEI champion, and a Pledge 1% member organization. More than 300 world-class foundations and government organizations use Fluxx, including 10 of the top 20 foundations, granting more than $13 billion annually and impacting more than 150,000 non-profits. Find out more at www.fluxx.io and follow @fluxxlabs on Twitter. About Metamorph Partners Metamorph Partners is an operator-led private equity for B2B SaaS businesses. Metamorph is led by two experienced operators: Bob Tinker, former founding CEO of MobileIron - from $0 to $150M in revenue and IPO, and David Hersh, former founding CEO of Jive Software - from $0 to $100M and IPO. About ABS Capital For over 30 years, ABS Capital Partners has been investing in emerging growth companies, helping CEOs capitalize on new opportunities and navigate unforeseen obstacles – while never losing sight of the ultimate goal of achieving lasting excellence. Our partners have decades of experience as C-level executives, investment bankers, and investors in the industries in which we invest. By helping to transform over 130 companies through their most crucial stage of development, ABS continues to help unleash the potential for lasting growth. Visit www.abscapital.com for more information. Contact:

ABS Capital Partners Investments

163 Investments

ABS Capital Partners has made 163 investments. Their latest investment was in Cordial as part of their Series C on July 7, 2022.

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ABS Capital Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

7/26/2022

Series C

Cordial

$50M

Yes

3

3/22/2022

Series A - II

Beep

$25M

Yes

9

3/15/2022

Series A

RIBBIT.ai

Yes

1

9/30/2021

Series B - II

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$99M

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10

4/21/2021

Series D

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$99M

Subscribe to see more

10

Date

7/26/2022

3/22/2022

3/15/2022

9/30/2021

4/21/2021

Round

Series C

Series A - II

Series A

Series B - II

Series D

Company

Cordial

Beep

RIBBIT.ai

Subscribe to see more

Subscribe to see more

Amount

$50M

$25M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

3

9

1

10

10

ABS Capital Partners Portfolio Exits

68 Portfolio Exits

ABS Capital Partners has 68 portfolio exits. Their latest portfolio exit was Audacious Inquiry on February 01, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

2/1/2022

Acquired

$99M

3

9/2/2021

Acq - Fin - III

$99M

1

1/25/2020

Acquired

$99M

2

1/8/2020

Acquired

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$99M

Subscribe to see more

10

10/22/2018

Acquired

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$99M

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10

Date

2/1/2022

9/2/2021

1/25/2020

1/8/2020

10/22/2018

Exit

Acquired

Acq - Fin - III

Acquired

Acquired

Acquired

Companies

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Subscribe to see more

Subscribe to see more

Sources

3

1

2

10

10

ABS Capital Partners Acquisitions

12 Acquisitions

ABS Capital Partners acquired 12 companies. Their latest acquisition was Fluxx on October 20, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

10/20/2021

Series B

$99M

$26.2M

Acq - Fin

1

1/17/2019

Debt

$99M

$21.4M

Acq - Fin

1

7/2/2013

Debt

$99M

$39.64M

Management Buyout

2

12/13/2012

Private Equity

Subscribe to see more

$99M

$99M

Subscribe to see more

10

8/31/2012

Series B

Subscribe to see more

$99M

$99M

Subscribe to see more

10

Date

10/20/2021

1/17/2019

7/2/2013

12/13/2012

8/31/2012

Investment Stage

Series B

Debt

Debt

Private Equity

Series B

Companies

Subscribe to see more

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$26.2M

$21.4M

$39.64M

$99M

$99M

Note

Acq - Fin

Acq - Fin

Management Buyout

Subscribe to see more

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Sources

1

1

2

10

10

ABS Capital Partners Fund History

10 Fund Histories

ABS Capital Partners has 10 funds, including ABS Capital Partners VIII.

Closing Date

Fund

Fund Type

Status

Amount

Sources

7/25/2016

ABS Capital Partners VIII

Late-Stage Venture Capital

Open

$149.8M

2

7/25/2016

ABS Capital Partners VIII-B

$149.8M

2

10/28/2011

ABS Capital Partners VII LP

Late-Stage Venture Capital

Closed

$500M

1

6/22/2009

ABS Capital Partners VI LP

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$99M

10

4/28/2005

ABS Capital Partners V LP

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$99M

10

Closing Date

7/25/2016

7/25/2016

10/28/2011

6/22/2009

4/28/2005

Fund

ABS Capital Partners VIII

ABS Capital Partners VIII-B

ABS Capital Partners VII LP

ABS Capital Partners VI LP

ABS Capital Partners V LP

Fund Type

Late-Stage Venture Capital

Late-Stage Venture Capital

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Status

Open

Closed

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Amount

$149.8M

$149.8M

$500M

$99M

$99M

Sources

2

2

1

10

10

ABS Capital Partners Service Providers

2 Service Providers

ABS Capital Partners has 2 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

General Counsel

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Service Provider

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Associated Rounds

Provider Type

Counsel

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Service Type

General Counsel

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Partnership data by VentureSource

ABS Capital Partners Team

16 Team Members

ABS Capital Partners has 16 team members, including current Chief Financial Officer, James E. Stevenson.

Name

Work History

Title

Status

James E. Stevenson

Chief Financial Officer

Current

Donald B. Hebb

Founding Partner

Current

Timothy T. Weglicki

Alex Brown & Sons

Founding Partner

Current

Michael Avon

Millennial Media, Columbia Capital, Toucan Capital, Folio Investing, and Gunderson Dettmer

Managing General Partner

Current

John D. Stobo

Managing General Partner

Current

Name

James E. Stevenson

Donald B. Hebb

Timothy T. Weglicki

Michael Avon

John D. Stobo

Work History

Alex Brown & Sons

Millennial Media, Columbia Capital, Toucan Capital, Folio Investing, and Gunderson Dettmer

Title

Chief Financial Officer

Founding Partner

Founding Partner

Managing General Partner

Managing General Partner

Status

Current

Current

Current

Current

Current

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