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Growth Equity
jmi.com

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Investments

180

Portfolio Exits

86

Funds

14

Partners & Customers

1

Service Providers

3

About JMI Equity

JMI is a growth equity firm focused on investing in leading software and technology-enabled services companies. JMI has invested in over 110 companies, helping many of these businesses become industry leaders. More than 65 of its portfolio companies have achieved successful outcomes, including sales to strategic acquirers or initial public offerings.

JMI Equity Headquarter Location

100 International Drive Suite 19100

Baltimore, Maryland, 21202,

United States

410-951-0200

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CB Insights Intelligence Analysts have mentioned JMI Equity in 1 CB Insights research brief, most recently on Sep 9, 2019.

Latest JMI Equity News

ServiceTrade Receives $85 Million Growth Investment Led by JMI Equity

Dec 7, 2021

ServiceTrade Receives $85 Million Growth Investment Led by JMI Equity Investment in leading software platform for commercial service contractors to fuel strategic growth, product expansion, and top talent acquisition DURHAM, N.C., December 6, 2021-- ServiceTrade, the leading provider of software as a service (“SaaS”) applications for commercial service contractors, today announced that it has received an $85 million growth investment led by JMI Equity (“JMI”), a growth equity firm focused on investing in leading software companies. Existing investors Frontier Growth and Bull City Venture Partners also participated in the funding. With the additional capital, ServiceTrade will increase the pace of new product innovations to continue to meet the heightened demand from commercial service contractors. ServiceTrade was founded in 2012 by Billy Marshall and Brian Smithwick to meet the unique and unmet technology needs of commercial service contractors. Previously, the lack of contractor-focused solutions had forced many, like Smithwick, to develop custom service management software to optimize their contracting and service management workflows. Today, ServiceTrade has more than 800 customers that manage more than 12,000 skilled technicians and generate almost $3 billion in annual service contracting revenue. The company’s applications are used widely by service contractors that provide inspection, maintenance, repair, and project services for the critical fire safety, mechanical, and electrical systems in commercial and industrial facilities. “Before we started ServiceTrade, commercial and industrial service contractors were forced to rely on software that wasn’t designed for their businesses,” said ServiceTrade CEO and co-founder Billy Marshall. “JMI’s investment will accelerate our development of unique applications that our customers are increasingly asking us to provide. With a business model based on long-term customer contracts that require a data model and workflows that most software providers don’t understand, we are best equipped to deliver to contractors more tailored solutions for their businesses.” “When we formed ServiceTrade, there were practically no SaaS providers in the space, and a common preference was to have the server in the office where they could see it,” commented ServiceTrade CTO and co-founder Brian Smithwick. “We’re grateful the market has evolved over the past nine years and that we work with progressive business leaders who continually bring new ideas and challenges we can help them solve. Now, with JMI’s partnership, we’ll bring even more of those solutions to market. We are excited to add to our already talented staff to innovate even faster.” The COVID-19 pandemic added urgency to the need for modern SaaS applications for contractors. Over the past several months, ServiceTrade’s cloud-based software enabled essential service providers to work in a safe, distanced manner to keep their customers’ critical facility infrastructure up and running. “Throughout the pandemic, it has become even more difficult for service contractors to hire skilled technicians, and the technicians on staff are stretched thin. Adopting technology like ServiceTrade that increases technician productivity will balance the tension between supply and demand while increasing contractors’ capacity to help their customers and generate more revenue,” added Marshall. David Greenberg, General Partner at JMI, said, “Billy and Brian have built a team that demonstrates a deep understanding of and commitment to the commercial trades. ServiceTrade is already a proven market leader with customers eager for the company to address more of their needs. We are excited to partner with the ServiceTrade team to help accelerate the company’s rapid growth.” As part of the transaction, Greenberg and Stephen Jones of JMI will join Richard Maclean and Matt Williams of Frontier Growth and Marshall on the ServiceTrade board of directors. “JMI will be a great partner to support ServiceTrade’s product and customer growth,” added Richard Maclean, Partner and co-founder at Frontier Growth. “Their significant investment highlights the need for SaaS applications for commercial service contractors that ServiceTrade is uniquely positioned to deliver.” Canaccord Genuity LLC served as the exclusive financial advisor to ServiceTrade in connection with the transaction. ABOUT SERVICETRADE ServiceTrade makes software as a service applications for commercial service contractors. Contractors use ServiceTrade’s mobile and web applications to streamline service operations, sell more services, and engage customers online to earn revenue growth averaging over 23% year-over-year. Since its 2012 founding, ServiceTrade has been trusted by more than 800 commercial contractors to run their service business. Find more at www.servicetrade.com. ABOUT JMI EQUITY JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 170 businesses in its target markets, successfully completed over 110 exits, and raised more than $6 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information, visit www.jmi.com. ABOUT FRONTIER GROWTH Frontier Growth provides support for growth – both investment capital and operational expertise – exclusively for software companies with $5-$30 million in revenue. Frontier was founded with an intentional culture to put People Before Numbers, because it’s people that lead to real growth. With over 20 years of experience and actively investing its 5th fund, Frontier respects that each of their companies represents someone’s life’s work and helps them grow without stifling the innovation that’s made them successful. Visit www.frontiergrowth.com. Contact:

JMI Equity Investments

180 Investments

JMI Equity has made 180 investments. Their latest investment was in ButterflyMX as part of their Series D on December 12, 2021.

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JMI Equity Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/7/2021

Series D

ButterflyMX

$50M

Yes

3

12/6/2021

Growth Equity - II

ServiceTrade

$85M

Yes

4

11/18/2021

Series C

Practice Ignition

$50M

Yes

5

11/16/2021

Series B

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$99M

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10

10/26/2021

Series B

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$99M

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10

Date

12/7/2021

12/6/2021

11/18/2021

11/16/2021

10/26/2021

Round

Series D

Growth Equity - II

Series C

Series B

Series B

Company

ButterflyMX

ServiceTrade

Practice Ignition

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Amount

$50M

$85M

$50M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

3

4

5

10

10

JMI Equity Portfolio Exits

86 Portfolio Exits

JMI Equity has 86 portfolio exits. Their latest portfolio exit was AppNeta on December 07, 2021.

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

12/7/2021

Acquired

2

12/1/2021

Acq - Fin

1

11/22/2021

Acquired

1

00/00/0000

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10

00/00/0000

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$991

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10

Date

12/7/2021

12/1/2021

11/22/2021

00/00/0000

00/00/0000

Exit

Acquired

Acq - Fin

Acquired

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Companies

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Valuation

$991

Acquirer

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Sources

2

1

1

10

10

JMI Equity Acquisitions

21 Acquisitions

JMI Equity acquired 21 companies. Their latest acquisition was Benevity on December 03, 2020.

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

12/3/2020

Acq - Fin

$991

$69.2M

Acq - Fin

5

5/3/2019

Take Private

$991

$24.97M

Take Private

6

1/25/2016

Acq - Fin

Acq - Fin

3

11/27/2013

Acq - Fin - II

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$991

$99M

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10

2/15/2013

Acq - Fin

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$99M

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10

Date

12/3/2020

5/3/2019

1/25/2016

11/27/2013

2/15/2013

Investment Stage

Acq - Fin

Take Private

Acq - Fin

Acq - Fin - II

Acq - Fin

Companies

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Valuation

$991

$991

$991

Total Funding

$69.2M

$24.97M

$99M

$99M

Note

Acq - Fin

Take Private

Acq - Fin

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Sources

5

6

3

10

10

JMI Equity Fund History

14 Fund Histories

JMI Equity has 14 funds, including JMI Equity Fund X.

Closing Date

Fund

Fund Type

Status

Amount

Sources

3/1/2021

JMI Equity Fund X

$1,700M

1

12/11/2018

JMI Equity Fund IX

Diversified Private Equity

$1,200M

1

8/20/2014

JMI Equity Fund VIII

Diversified Private Equity

$1,000M

1

4/24/2014

JMI VII DE AIV A

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$99M

10

4/24/2014

JMI VII DE AIV Blocker

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$99M

10

Closing Date

3/1/2021

12/11/2018

8/20/2014

4/24/2014

4/24/2014

Fund

JMI Equity Fund X

JMI Equity Fund IX

JMI Equity Fund VIII

JMI VII DE AIV A

JMI VII DE AIV Blocker

Fund Type

Diversified Private Equity

Diversified Private Equity

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Status

Amount

$1,700M

$1,200M

$1,000M

$99M

$99M

Sources

1

1

1

10

10

JMI Equity Partners & Customers

1 Partners and customers

JMI Equity has 1 strategic partners and customers. JMI Equity recently partnered with Empathica on .

Date

Type

Business Partner

Country

News Snippet

Sources

Vendor

Empathica

Canada

JMI to Help Drive Continued Strong Growth of Empathica's Industry-Leading. Customer Experience Management Software Provider Empathica Secures US$7 Million Financing from JMI Equity -- re> TORONTO, April 25 /PRNewswire/ --.

`` It is our vision at Empathica Inc. to become the world 's leading retail customer experience management company , and partnering with JMI Equity will help us achieve this objective , '' said Mr. Amos .

1

Date

Type

Vendor

Business Partner

Empathica

Country

Canada

News Snippet

JMI to Help Drive Continued Strong Growth of Empathica's Industry-Leading. Customer Experience Management Software Provider Empathica Secures US$7 Million Financing from JMI Equity -- re> TORONTO, April 25 /PRNewswire/ --.

`` It is our vision at Empathica Inc. to become the world 's leading retail customer experience management company , and partnering with JMI Equity will help us achieve this objective , '' said Mr. Amos .

Sources

1

JMI Equity Service Providers

6 Service Providers

JMI Equity has 6 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Growth Equity

Counsel

General Counsel

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Service Provider

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Associated Rounds

Growth Equity

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Provider Type

Counsel

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Service Type

General Counsel

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Partnership data by VentureSource

JMI Equity Team

18 Team Members

JMI Equity has 18 team members, including current Founder, Managing Partner, Harry Gruner.

Name

Work History

Title

Status

Harry Gruner

Founder, Managing Partner

Current

Charles Noell

Founder

Current

Randy Guttman

Controller

Current

Peter Arrowsmith

General Partner

Current

Paul Barber

General Partner

Current

Name

Harry Gruner

Charles Noell

Randy Guttman

Peter Arrowsmith

Paul Barber

Work History

Title

Founder, Managing Partner

Founder

Controller

General Partner

General Partner

Status

Current

Current

Current

Current

Current

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