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Monthly Archives: January 2018
Ballast Point Ventures III, LP (“BPV”) is pleased to announce that Frontier Capital has led a majority recapitalization of its portfolio company PowerDMS, an Orlando-based policy management software company. BPV invested in PowerDMS in 2014 to help the Company grow its sales and marketing team and further enhance its technology platform by offering new features to its customer base.
Founded in 2001 by Chief Executive Officer Josh Brown, PowerDMS offers a software as a service, cloud-based compliance and content management solution that helps organizations reduce risk and liability. The Company provides software tools to organize and manage all of a company’s critical documents and respective industry accreditation standards, as well as allow for training and testing of employees. PowerDMS serves customers in law enforcement, public safety, and healthcare and has achieved significant organic growth in these markets during BPV’s investment period.
Robert Faber, a Partner with BPV, will continue to serve on PowerDMS’s board of directors subsequent to the majority recapitalization. He remarked, “We are very pleased to have partnered with Josh Brown and his team as they have built a successful software company in Florida. We are proud of the growth that PowerDMS has shown during our investment period and want to thank Josh and his team for their excellent work since we invested. We think that PowerDMS has found a great partner in Frontier Capital to help the Company reach its goal of being the market leader in crucial content management, and we are excited about remaining shareholders for the next leg of the journey.”
“Ballast Point Ventures has been a great partner throughout our relationship. Their expertise and thoughtful leadership helped us mature without compromising our culture or customer satisfaction,” said Josh Brown, Founder and CEO of PowerDMS. “The team at BPV was immensely helpful in bringing its strong Florida network to bear as we scaled our operations, and we added numerous key team members as a result of BPV’s introductions. Now, with Frontier Capital as a partner, we are enthusiastic to expand this growth and continue to provide our customers with a world-class product.”
PowerDMS, headquartered in Orlando, Florida, is a cloud-based policy management software company. The platform provides practical tools to organize and manage crucial documents and industry standards, train, and test employees, and uphold proof of compliance, thereby helping organizations reduce risk and liability. PowerDMS simplifies document management through powerful collaboration, process, and automation. For more information on PowerDMS, please visit https://www.powerdms.com/
Ballast Point Ventures, headquartered in Tampa, Florida, is a later stage venture capital and growth equity firm founded in 2002 to provide expansion capital for rapidly growing, privately owned companies, with a particular emphasis on companies located in the Southeast and Texas. The BPV partners have more than 80 years of combined experience investing in and building high-growth companies in several industries, including health care, software, technology-enabled business services, communications, and consumer. BPV has $360 million under management and seeks to make initial equity investments ranging in size from $4 million to $10 million. For more information on Ballast Point Ventures, please visit http://ballastpointventures.com/