Silversmith Capital Partners, a Boston-based growth equity firm, has made a majority growth investment in Proven Optics, a financial management software company.
Proven Optics was founded in 2020 by William Miller and Ben Perkins to provide IT and finance leaders with analytics and insights to make business decisions by automating the financial management of IT budgets. The investment will be used to further product development of Proven Optics’ suite of software products and will allow the company to invest in sales and marketing. The investment was made from Silversmith’s fourth growth equity fund, a $1.3 billion fund raised in July 2022.
“As a rapidly growing profitable business in a large market, Proven Optics is a great fit for Silversmith,” states Danielle Waldman, Silversmith vice president. “We are excited to serve as the first institutional investor and support Bill and Ben in the company’s next stage of growth.”
Kirkland & Ellis served as legal counsel to Silversmith Capital Partners and Porter Wright served as legal counsel to Proven Optics.