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Growth Equity
FINANCE | Investment Firms & Funds
mainsailpartners.com

Investments

43

Portfolio Exits

15

Funds

7

Service Providers

1

About Mainsail Partners

Mainsail Partners is a growth equity firm that invests exclusively in growing, bootstrapped companies. The San Francisco-based firm has a team of experienced operating professionals to help outstanding entrepreneurs scale their businesses and accelerate growth. Mainsail's investments include enterprise software and software-as-a-service (SaaS) companies Steelwedge, Netchemia and Zen Planner, as well as payments-as-a-service companies Paylease and nCourt. The firm has raised nearly $400 million in committed capital.

Headquarters Location

One Front Street Suite 3000

San Francisco, California, 94111,

United States

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Latest Mainsail Partners News

Instinct Announces Growth Equity Investment from Mainsail Partners

Nov 28, 2022

By Instinct Science, a fast-growing veterinary practice management software platform, plans to use the investment to accelerate product development for animal care centers. PHILADELPHIA–(BUSINESS WIRE)–Instinct Science, a veterinary practice management software and workflow platform, announced a significant investment from Mainsail Partners, a growth equity firm that invests in fast-growing software companies. Instinct plans to use the capital to accelerate product development and enhance services and support for veterinary hospitals everywhere. “The veterinary industry that we care deeply about faces some unique challenges. Instinct’s mission is to be part of the solution by building software that is actually loved by veterinary teams and those that operate veterinary centers,” said Caleb Frankel, VMD, founder and CEO of Instinct. “As we reflect on this exciting milestone, we’re constantly reminded of how impactful Instinct has become to our hospitals and we take this awesome responsibility seriously. We believe that we are just getting started and with this investment and the experience Mainsail brings as a partner, we’re looking forward to expanding our products and services for the long term. We see this as not just an investment in Instinct but also a vote of confidence in the broader veterinary world, animal care, and future veterinary teams.” Instinct provides practice management software as well as workflow and e-prescribing tools for the veterinary industry through their innovative Instinct EMR, Instinct Treatment Plan, and Instinct Scripts products. Instinct’s robust platform, combined with a flexible and easy-to-use interface, makes it attractive to veterinary hospitals of all sizes, including corporate-owned centers with multiple locations looking to modernize. Their products help veterinary centers automate charge capture and enhance workforce efficiency and staff happiness. Hospitals that use Instinct benefit from functionality such as decision support tools, electronic smart boards, digital treatment sheet and anesthesia management, diagnostic and payment integrations, built-in referral management tools, patient safety warning systems, and advanced billing and reporting tools. “This is an exciting opportunity and a responsibility we take personally,” said Taylor McKinley, Partner at Mainsail Partners. “As pet owners ourselves, we appreciate the importance of pet care that is delivered safely and efficiently, and we believe the Instinct team has built a trailblazing solution to make the lives of veterinary teams, and ultimately pet owners, better,” added McKinley. “We look forward to working with Caleb and the team to continue building long-term value for leading veterinary centers and the customers they serve.” The investment closed in the first half of 2022 and financial terms are not being disclosed. Taylor McKinley, KC Kanoff, and David Gersholowitz joined Frankel on the board of directors. In addition, Gayle Crowell, former software company CEO and seasoned board director with extensive experience in technology company operations, sales, marketing, and C-level management, has joined the board as Executive Chair. About Instinct Science Instinct’s practice management platform is the patient nerve center for some of the most advanced veterinary care centers. Founded in 2017 by Frankel and a team of veterinary and technology professionals, Instinct has seen over 60,000 users on their platforms in veterinary centers spanning 4 continents. Their suite of products power many of the industry’s leading university veterinary teaching centers and multispecialty/emergency advanced care centers. For more information, visit www.instinct.vet . About Mainsail Partners Mainsail Partners is a growth equity firm that partners with founders of bootstrapped software companies to help them realize their potential. For nearly 20 years, Mainsail has been helping management teams navigate the challenges and opportunities that come with rapidly scaling a software company. The firm includes women and men who are former software company operators who have seen these challenges first-hand. Mainsail offers assistance across a variety of functional areas including talent, finance, customer success, sales and marketing, product management, and R&D. With offices in Austin and San Francisco, the firm has raised over $2.2 billion in committed capital and invested in more than seventy companies. For more information, visit www.mainsailpartners.com or follow the firm on LinkedIn . Contacts

Mainsail Partners Investments

43 Investments

Mainsail Partners has made 43 investments. Their latest investment was in Instinct Science as part of their Growth Equity on November 11, 2022.

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Mainsail Partners Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/28/2022

Growth Equity

Instinct Science

Yes

3

8/23/2022

Growth Equity

SmartMoving

$41.5M

Yes

3

7/28/2022

Growth Equity

Fexa

$40M

Yes

5

3/31/2022

Growth Equity

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$99M

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10

3/17/2022

Growth Equity

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$99M

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10

Date

11/28/2022

8/23/2022

7/28/2022

3/31/2022

3/17/2022

Round

Growth Equity

Growth Equity

Growth Equity

Growth Equity

Growth Equity

Company

Instinct Science

SmartMoving

Fexa

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Amount

$41.5M

$40M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

3

3

5

10

10

Mainsail Partners Portfolio Exits

15 Portfolio Exits

Mainsail Partners has 15 portfolio exits. Their latest portfolio exit was Nexus Systems on September 13, 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

9/13/2022

Acquired

$99M

10

1/4/2022

Acquired

$99M

2

10/19/2021

Merger

$99M

1

6/30/2021

Acquired

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$99M

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10

12/2/2020

Acquired

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$99M

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10

Date

9/13/2022

1/4/2022

10/19/2021

6/30/2021

12/2/2020

Exit

Acquired

Acquired

Merger

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

10

2

1

10

10

Mainsail Partners Acquisitions

6 Acquisitions

Mainsail Partners acquired 6 companies. Their latest acquisition was SyncroMSP on July 01, 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

7/1/2021

$99M

Acq - Fin

2

11/7/2013

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$99M

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10

2/6/2008

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$99M

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0

11/9/2007

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$99M

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0

8/22/2005

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$99M

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0

Date

7/1/2021

11/7/2013

2/6/2008

11/9/2007

8/22/2005

Investment Stage

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

Note

Acq - Fin

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Sources

2

10

0

0

0

Mainsail Partners Fund History

7 Fund Histories

Mainsail Partners has 7 funds, including Mainsail Partners VI.

Closing Date

Fund

Fund Type

Status

Amount

Sources

4/19/2022

Mainsail Partners VI

$915M

2

2/26/2020

Mainsail Partners V

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$99M

10

2/25/2016

Mainsail Partners IV

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$99M

10

6/21/2012

Mainsail Partners III LP

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$99M

10

12/3/2007

Mainsail Partners II LP

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$99M

10

Closing Date

4/19/2022

2/26/2020

2/25/2016

6/21/2012

12/3/2007

Fund

Mainsail Partners VI

Mainsail Partners V

Mainsail Partners IV

Mainsail Partners III LP

Mainsail Partners II LP

Fund Type

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Status

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Amount

$915M

$99M

$99M

$99M

$99M

Sources

2

10

10

10

10

Mainsail Partners Service Providers

1 Service Provider

Mainsail Partners has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

Service Provider

Associated Rounds

Provider Type

Counsel

Service Type

Partnership data by VentureSource

Mainsail Partners Team

5 Team Members

Mainsail Partners has 5 team members, including , .

Name

Work History

Title

Status

C. Jason Payne

Founder

Current

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Name

C. Jason Payne

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Work History

Title

Founder

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Status

Current

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