Predict your next investment

Private Equity
springmountaincapital.com

See what CB Insights has to offer

Investments

48

Portfolio Exits

13

Funds

4

About Spring Mountain Capital

Spring Mountain is a private investment management firm that focuses on alternative asset investing and offers investors a wide range of strategies designed to produce attractive risk adjusted returns.

Spring Mountain Capital Headquarter Location

650 Madison Avenue 20th Floor

New York, New York, 10022,

United States

212-292-8300

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Latest Spring Mountain Capital News

Thentia secures US $10M Series B led by Spring Mountain Capital and BDC Capital

Apr 22, 2022

Thentia secures US $10M Series B led by Spring Mountain Capital and BDC Capital CPE News (4.21.2022) – Thentia has raised additional US $10 million in Series B1 funding led by existing investors Spring Mountain Capital and BDC Capital. The Series B1 builds on the initial US $10 million Series B round led by Spring Mountain Capital with participation from BDC Capital. Founded by Julian Cardarelli, Thentia is a leading government software-as-a-service (SaaS) provider. The Series B1 funding will enable Thentia to invest aggressively across all parts of the business, including growing and enhancing its product and engineering, while also scaling customer-facing services and support teams, with the goal of creating a world-class customer experience across all markets. photo credit: Thentia News Release Thentia raises an additional $10M from existing investors BDC Capital and Spring Mountain Capital following rapid growth Funding will fuel rapid growth and support Thentia’s unprecedented expansion across North America TORONTO, April 19, 2022 /CNW/ – Thentia, an industry-leading government software-as-a-service (SaaS) provider, announced today it has closed an additional $10 million Series B1 investment led by existing investors Spring Mountain Capital and BDC Capital. This latest investment further deepens Thentia’s relationship with New York City-based Spring Mountain Capital and BDC Capital, building on an initial $10M Series B round in spring 2021 that helped the company accelerate its go-to-market strategy and grow its position across the U.S. as the industry-leading SaaS platform for the government technology sector. Thentia provides its technology to agencies located in nearly two thirds of the North American market. The announcement comes during a period of significant growth and achievement for Thentia, which was recently named one of the 100 Fastest Growing Companies in Toronto 2022, ranking in the top third of companies based on funding, employee growth, revenue, and other notable growth triggers. Over the past year-and-a-half, Thentia has grown its employee base by 300% and has significantly expanded its customer base in new and existing markets across North America, now with more than 8.5 million active licensees across the globe using its platform, Thentia Cloud, a revolutionary end-to-end software-as-a-service solution for government. This additional funding will enable the company to invest aggressively across all parts of the business, including growing and enhancing its product and engineering, while also scaling customer-facing services and support teams, with the goal of creating a world-class customer experience across all markets. Following its success within the State of Oklahoma, Thentia is pleased to announce that it is opening its regional headquarters in Oklahoma City to serve the needs of its Oklahoma clients and those of adjacent States effective immediately. Thentia’s workforce is distributed evenly across the United States and Canada, with a new regional team growing in the United Kingdom to focus on European markets. “Thentia’s robust and innovative platform provides an essential solution for government agencies wishing to achieve digital transformation in their organizations, allowing them to move their processes into the 21st century while providing the best user experience for citizens as well as critical data that will aid in decision-making,” says Jamie Weston, Managing Director, Spring Mountain Capital. “We’ve been incredibly impressed by Thentia’s performance as it gains traction in markets across the U.S., and we’re thrilled to continue supporting its growth with this latest investment.” Sean Brownlee, Partner of BDC Capital’s Industrial, Clean and Energy Technology (ICE) Venture Fund, says Thentia’s tremendous success is a testament to its world-class team with deep expertise in regulation. “Thentia has assembled a top-tier team of visionary leaders and regulatory experts that truly understand their clients’ needs because they have firsthand insight into the problems they face every day,” says Brownlee. “This expertise allowed them to develop a sophisticated cloud-based solution that supports key regulatory functions and has successfully disrupted the underserved regulatory licensing industry.” Thentia Chief Executive Officer, Julian Cardarelli, says he is grateful for the continued support of Thentia’s partners as the company makes significant strides in fulfilling its ambitious goals, including becoming the state-supported cloud-based agency software provider across all 50 U.S. states and the leading provider, globally. “SMC and BDC have been incredible partners and their support has been crucial in Thentia’s success over the past year as we grew our client base, evolved our product, and made major inroads in markets across the U.S.,” he says. “This additional funding positions us to scale more rapidly to meet the incredible response to our platform in every market that we are entering.” Thentia’s rapid growth and success have also attracted the attention of other leading North American investors. In 2021 and 2018, Thentia partnered with Espresso Capital on two credit facilities that supported key investments and acquisitions. Thentia was advised on the financing round by Blake, Cassels & Graydon LLP. About Thentia Thentia is a global company with teams operating in the United States of America, the United Kingdom, and Canada and is trusted by regulatory bodies and government agencies worldwide with more than 8 million active licensees across the globe using its platform. Thentia was developed by subject matter experts with a mission to transform government technology through best-in-class capabilities. Its secure, modern and elegant solution, Thentia Cloud, is revolutionizing the way regulatory bodies and government agencies manage data and licensing by bringing the entire process into the 21st century with speed, automation, ease of use, and best-in-class support. For more information, visit thentia.com. About Spring Mountain Capital Spring Mountain Capital is a New York-based private investment management firm that focuses on alternative asset investing. The SMC Growth equity team focuses on providing expansion capital to companies capitalizing on breakthrough innovations, paradigm shifts, or fundamental market or behavioral changes. SMC invests in two sectors of the U.S. economy undergoing the most change and with the highest growth potential: enterprise technology and healthcare companies. For more information, visit: smcgrowthcapital.com. About BDC Capital BDC Capital is the investment arm of BDC, the bank for Canadian entrepreneurs. With over $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers businesses a full spectrum of capital, from seed investments to growth equity, supporting Canadian entrepreneurs who have the ambition to stand out on the world stage. Visit bdc.ca/capital. For more information or to arrange an interview, please contact: Carolyn Goard

Spring Mountain Capital Investments

48 Investments

Spring Mountain Capital has made 48 investments. Their latest investment was in Thentia as part of their Series B - II on April 4, 2022.

CBI Logo

Spring Mountain Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/20/2022

Series B - II

Thentia

$10M

No

2

3/8/2022

Series B

Genomenon

$20M

Yes

5

3/2/2022

Series B

EverWash

$6M

Yes

7

2/16/2022

Series A

Subscribe to see more

$99M

Subscribe to see more

10

2/7/2022

Series C

Subscribe to see more

$99M

Subscribe to see more

10

Date

4/20/2022

3/8/2022

3/2/2022

2/16/2022

2/7/2022

Round

Series B - II

Series B

Series B

Series A

Series C

Company

Thentia

Genomenon

EverWash

Subscribe to see more

Subscribe to see more

Amount

$10M

$20M

$6M

$99M

$99M

New?

No

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

2

5

7

10

10

Spring Mountain Capital Portfolio Exits

13 Portfolio Exits

Spring Mountain Capital has 13 portfolio exits. Their latest portfolio exit was OpenSlate on November 09, 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

11/9/2021

Acquired

$99M

5

10/8/2021

IPO

6

8/2/2021

Acquired

10

6/2/2021

Acquired

Subscribe to see more

Subscribe to see more

10

1/8/2021

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

Date

11/9/2021

10/8/2021

8/2/2021

6/2/2021

1/8/2021

Exit

Acquired

IPO

Acquired

Acquired

Acquired

Companies

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

Acquirer

Subscribe to see more

Subscribe to see more

Sources

5

6

10

10

10

Spring Mountain Capital Acquisitions

1 Acquisition

Spring Mountain Capital acquired 1 company. Their latest acquisition was Iron Solutions on June 06, 2008.

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

6/6/2008

$99M

Acquired

Date

6/6/2008

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Acquired

Sources

Spring Mountain Capital Fund History

4 Fund Histories

Spring Mountain Capital has 4 funds, including SMC Private Equity Holdings.

Closing Date

Fund

Fund Type

Status

Amount

Sources

7/10/2020

SMC Private Equity Holdings

Diversified Private Equity

Open

$24.57M

2

3/20/2020

SMC Holdings II LP

Subscribe to see more

Subscribe to see more

$99M

10

1/15/2020

SMC Private Capital Fund

Subscribe to see more

Subscribe to see more

$99M

10

4/10/2017

SMC Growth Capital Partners II

Subscribe to see more

Subscribe to see more

$99M

10

Closing Date

7/10/2020

3/20/2020

1/15/2020

4/10/2017

Fund

SMC Private Equity Holdings

SMC Holdings II LP

SMC Private Capital Fund

SMC Growth Capital Partners II

Fund Type

Diversified Private Equity

Subscribe to see more

Subscribe to see more

Subscribe to see more

Status

Open

Subscribe to see more

Subscribe to see more

Subscribe to see more

Amount

$24.57M

$99M

$99M

$99M

Sources

2

10

10

10

Spring Mountain Capital Team

7 Team Members

Spring Mountain Capital has 7 team members, including current Founder, Senior Managing Director, John Steffens.

Name

Work History

Title

Status

John Steffens

Founder, Senior Managing Director

Current

Gregory Paul Ho

President, Chief Operating Officer

Current

Robert Ian Brous

Chief Financial Officer

Current

Avi Faliks

Managing Director

Current

Garey M. Fuqua

Managing Director

Current

Name

John Steffens

Gregory Paul Ho

Robert Ian Brous

Avi Faliks

Garey M. Fuqua

Work History

Title

Founder, Senior Managing Director

President, Chief Operating Officer

Chief Financial Officer

Managing Director

Managing Director

Status

Current

Current

Current

Current

Current

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.