Funds advised by Apax have reached an agreement to acquire CyberGrants, a provider of Software-as-a-Service solutions for corporate social responsibility, employee engagement, and volunteer management, from Waud Capital Partners.
Mark Layden, CEO of CyberGrants, said, “The market for corporate social responsibility software is rapidly evolving as organizations look for enhanced agility to manage their expanding, and increasingly sophisticated, CSR programs to achieve social impact, and we’re excited to partner with Apax for the next phase of our journey. Their experience and know-how of both enterprise software and charitable giving markets will be of great value as we continue to enhance our platform to better support customers. I would like to thank Waud Capital Partners for their unwavering support over the past six years.”
Jason Wright, partner at Apax, said, “We are thrilled to partner with CyberGrants and we look forward to supporting them in their mission to help organizations maximize their impact. For over a decade, Apax and the Apax Funds’ portfolio companies have strived to achieve measurable ESG and CSR objectives, and we continue to look for ways to increase our positive impact on society and the environment. These initiatives are made easier with the help of companies like CyberGrants.”
Adam Garson, principal at Apax, added, “CyberGrants’ longstanding relationships with an extensive list of blue-chip customers is testament to the quality of their software platform. They have made significant investment in their product in recent years to drive customer satisfaction and impact outcomes, and we look forward to supporting Mark and the team as they look to improve their platform and grow their product into new markets.”
Matt Clary, partner at Waud Capital Partners, commented: “Mark and his team have built a cloud leader in the emerging category of CSR, and have stayed focused on product excellence, customer commitment, and delivering on their social mission around the globe. We are very proud to have been their partner during this exciting period of growth and know they will continue to have success with their outstanding new partner, Apax.”
Apax was advised by Evercore (financial advisor) and Skadden, Arps, Slate, Meager & Flom (legal advisor). CyberGrants and Waud Capital Partners were advised by Raymond James (lead financial advisor), Shea &Co. (co-financial advisor), and Kirkland & Ellis LLP (legal advisor).