Private equity firm Apax Partners’ acquisition of CyberGrants from Waud Capital Partners underscores how the landscape for social good software is growing. As employees, consumers and shareholders expect social responsibility more often, corporations are increasingly adopting corporate social responsibility (CSR) programs. CyberGrants provides Software-as-a-Service (SaaS) services for CSR, employee engagement and volunteer management.
Making an Impact with CSR Tech
The deal to acquire CyberGrants closed in July 2021. The acquisition was the first of three in the CSR technology space that ultimately led to the creation of a single company. In August, Apax reached agreements to acquire EveryAction from Insight Partners and Social Solutions from Vista Equity Partners.
The two companies were merged with CyberGrants to form Bonterra, resulting in the largest M&A transaction in the history of the social good software sector, according to Apax. The combined company brings together EveryAction’s omnichannel engagement platform for non-profits, with Social Solutions’ case management software and CyberGrants’ grant making and employee engagement software.
CyberGrants’ platform allows its customers, including more than half of the Fortune 100 companies, to scale their CSR programs and transform grants and giving initiatives into impact that closely aligns with their corporate mission and values. Its network connects 10 million employees and their employers with 650,000 non-profit organizations.
Social Good Ecosystem
Apax Partners’ acquisition of CyberGrants and subsequent merger with EveryAction and Social Solutions has given it significant scale in the CSR software market. As companies are put to the test to prove that they are investing in social good, employee well-being and engagement, corporations are looking for enhanced agility in managing and expanding their corporate philanthropy programs. The market for corporate social responsibility software is rapidly evolving, driving growth for technology companies and increasing M&A interest in the space.
For more Deals of the Year coverage, see Mergers and Acquisitions Reveals the 2022 Middle-Market Deals of the Year.
