L Squared Recapitalizes Lumaverse Technologies
L Squared to partner with Lumaverse and existing investor PSG to accelerate organic and inorganic growth
NEWPORT BEACH, Calif. - L Squared Capital Partners (“L Squared”) announced today that it is leading a recapitalization of Lumaverse Technologies (“Lumaverse”), one of the leading providers of constituent management and engagement software for education, nonprofits and businesses, alongside existing investor PSG, a leading growth equity firm partnering with middle-market software and technology-enabled services companies.
Lumaverse is comprised of a suite of software solutions that help solve volunteer, membership, event and fundraising management challenges. The company empowers groups to build lasting connections with their communities by providing increased engagement, data-driven insights and streamlined processes. Lumaverse products include leading solutions in these areas: online sign ups, appointment scheduling, registration, volunteer and event management, membership and donor management, and crowdfunding.
“Lumaverse has built a differentiated software platform within an attractive market segment that we believe is poised for strong growth,” said Adam Kimura, Partner at L Squared, who will join the Lumaverse board. “We are excited to partner with PSG and management to support the company’s next phase of growth. We plan to accelerate the company’s development both organically and through acquisitions to further enhance the value proposition for its large, growing customer base.”
“We are eager to collaborate with L Squared with its strong track record in our core markets. We value our partnership with PSG, which led to robust growth over the past three years, including the opportunity to serve over 55 million users,” said Mike Barros, CEO at Lumaverse. “The agility, commitment, and passion of our team, especially through the pandemic, will fuel continued success in our next chapter. Every day, we steadfastly meet our customers where they are and empower them to change the world, together.”
“In our view, Mike and the rest of the Lumaverse team have done a stellar job building and scaling a platform to help education and nonprofit organizations connect with their constituents more effectively and efficiently,” said Matt Stone, Managing Director at PSG, who will remain on the Lumaverse board. “We look forward to building on our partnership with Lumaverse as it seeks to continue its growth and continues to expand its platform with new capabilities to deliver value to its customers.”
Canaccord Genuity advised Lumaverse and PSG on the transaction. Weil, Gotshal & Manges LLP served as legal counsel to PSG, and Morgan, Lewis & Bockius LLP served as legal counsel to Lumaverse. Vedder Price served as legal counsel to L Squared.
About L Squared Capital Partners
L Squared Capital Partners is an investment firm headquartered in Newport Beach, CA that seeks to make long-term investments in leading growth companies that operate in targeted sectors: Education Technology, Tech-Enabled Services & Software, and Industrial Technology & Services. Our unique investor base of family offices enables us to focus on long-term value creation driven by revenue and earnings growth, not financial engineering or market timing. The principals of L Squared have worked together for over a decade and have over 80 years of combined experience investing in growing private companies. For additional information, please visit www.LSquaredCap.com.
PSG is a growth equity firm that partners with middle-market software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 80 companies and facilitated over 325 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City and London. To learn more about PSG, visit www.psgequity.com.
We empower people to change the world, together. Focused on education, nonprofits, government, healthcare, and businesses, Lumaverse expands on the power of SignUpGenius by coupling it with technologies that solve volunteer, membership, event and fundraising management challenges. Lumaverse builds simplicity into software solutions that light the way to increased engagement, data-driven insights, and streamlined group management. By coordinating people and events, our solutions help organizations build lasting connections.
Lumaverse Technologies is comprised of SignUpGenius, NonProfitEasy, TimeTap, Fundly, Membership Toolkit, AtoZConnect, Learning Stream, GoSignMeUp, and RegistrationMax. The companies operate as stand-alone brands within the Lumaverse platform while being increasingly integrated into a suite. For more information, please visit www.lumaverse.com.
Provided for informational purposes only and is not intended as investment advice or an offer or solicitation with respect to the purchase of any investment. Investing with any investment firm is suitable only for qualified investors that fully understand the risks of such an investment. L Squared Capital Partners and Providence Strategic Growth Capital Partners L.L.C are investment advisers registered with the United States Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Investments with L Squared Capital Partners and Providence Strategic Growth Capital Partners L.L.C. are only offered in accordance with applicable securities laws.
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