JMI Equity, a growth equity firm focused on investing in software companies, has made a strategic growth investment in Canto, a provider of digital asset management (DAM) software. Canto will utilize the additional funding to expand its customer-facing teams, accelerate and broaden its product development initiatives and drive growth across its target markets.
“As we transition to an increasingly digital society, Canto is well-positioned to continue to provide greater efficiency and functionality to customers across its target markets,” added Peter Arrowsmith, managing general partner at JMI Equity. “We are excited to partner with Jack and his team to grow Canto’s business and cement its position as a leader in digital asset management.”
“As online platforms drive the future of business and shape how companies interact and communicate with potential customers, it is increasingly important to have a dedicated solution to manage the assets that drive engagement,” said Jack McGannon, CEO of Canto. “Canto’s industry-leading platform offers a simple, secure and effective solution to manage collaboration within companies and facilitate consistent communications with potential and existing customers. With the support of JMI, we are excited to build on our success and continue to help our clients realize the power of digital asset management to level up and achieve more for their brands.”
Canaccord Genuity Group Inc. served as Canto’s financial advisor on the transaction, and Cooley LLP provided legal counsel. Goodwin Proctor LLP served as legal counsel for JMI.