AUSTIN, TX and NISSWA, MN – May 16, 2023 – Greenridge Growth Partners today announced the sale of GrowthZone, a leading provider of membership management software, to Lead Edge Capital. Greenridge invested in GrowthZone in 2019 and helped the company achieve significant and consistent growth over the past four years.
GrowthZone’s Association Management Software is used by associations across dozens of industries including business, chambers of commerce, real estate, construction, transportation, medical, and others. GrowthZone AMS unlocks the full potential of member-based organizations with an integrated solution that combines a powerful CRM, marketing automation tools, member engagement solutions, and payments. By seamlessly integrating with core processes, it empowers associations to optimize operations and scale efficiently, effectively, and sustainably – enabling staff to focus on reaching strategic goals and fulfilling their core mission.
“Our partnership with Greenridge has been instrumental in our success over these past few years,” said Lisa Barnett, CEO of GrowthZone. “The Greenridge team directly supported us across numerous strategic endeavors, including organizational growth and key executive hires, critical product improvements, sales and marketing effectiveness, and the realization of new revenue streams such as payments. They added value to all facets of our business and truly felt like an extension of our team. I’m grateful for their partnership and the pivotal role they played in helping us achieve this milestone.”
Since Greenridge’s investment in 2019, GrowthZone added over 40 employees and almost 1,000 new customers. The product, customer, and organic market expansion achieved by GrowthZone during its partnership with Greenridge has cemented the company’s position as a leading provider of membership management software to non-profit associations.
“Lisa and the rest of GrowthZone’s management team have been tremendous partners,” said Ben Moss, Partner and Co-Founder of Greenridge. “This achievement for the company is a testament to the mission-critical value that its solution provides to the thousands of associations which rely on it every day. We are proud to have worked alongside GrowthZone’s exceptional team, and we are excited for their next phase of growth with Lead Edge.”
“GrowthZone exemplifies what it means to be a customer-focused company,” added Jack Cardwell, Partner and Co-Founder of Greenridge. “Their team is tirelessly committed to serving associations with world-class software, and it has been an honor to partner with them to help achieve that goal.”
William Blair acted as exclusive financial advisor to GrowthZone on the transaction. Raymond James served as exclusive financial advisor to Lead Edge Capital.
ABOUT GROWTHZONE
GrowthZone is a leading provider of Association Management Software, helping over 4,000 member-based organizations grow and retain membership, generate additional revenue, engage and communicate with members, and streamline day-to-day operations. For more information, visit www.growthzone.com.
ABOUT GREENRIDGE GROWTH PARTNERS
Greenridge Growth Partners is a software-focused private equity firm based in Austin, TX. Greenridge seeks to invest alongside outstanding entrepreneurs and business owners looking for the right partner to help them build market-leading businesses. The firm pursues a sector-focused approach within the lower middle market, with an emphasis on enterprise software and technology-enabled service businesses. For more information on Greenridge, visit www.greenridgegrowth.com.