Winshuttle Secures $12 Million in Growth Equity Funding from Summit Partners
Investment Positions Winshuttle for ERP Usability Platform Expansion
Bothell, WA and Palo Alto, CA – September 14, 2010 – Winshuttle, the ERP Usability Company, announced today that it has raised $12 million in growth equity financing from Summit Partners. The funding comes on the heels of a record-breaking first-half 2010 performance and will be used to accelerate the company’s already rapid global expansion.
Founded in 2003, Winshuttle has aggressively moved to the forefront of the ERP usability market by designing solutions such as Winshuttle TRANSACTION, QUERY, and the new STUDIO suite, allowing non-technical users to solve critical data or business process challenges without programming. By letting users work with their favorite desktop applications to effectively run the complex business processes supported by SAP®, Winshuttle’s platform saves customers significant time and money while improving employee productivity and satisfaction.
“Given our current customer momentum, our growing global footprint, and the recent launch of an important new product suite, Winshuttle is perfectly poised to rapidly scale our business,” said Lewis Carpenter, CEO of Winshuttle. “Even though we have strong cash and profit positions, we felt that a quality investor like Summit Partners would help position us to act more strategically in evaluating new market entries and potential acquisition targets.”
“ERP Usability represents a significant market opportunity, and we believe Winshuttle will lead the way,” said Greg Goldfarb, a Principal at Summit Partners who has joined the company’s board of directors. “We found in Winshuttle a compelling mixture of a talented team, solid performance metrics, and innovative technology together with a clear focus on providing increasing value to their customers.”
Added Brandon Roach, a Vice President at Summit Partners, “Winshuttle is committed to building software that enables easier and faster interaction with SAP. As a result, the company has built a very satisfied and loyal customer base.”
About Summit Partners Summit Partners (www.summitpartners.com) is a growth equity investor that provides private equity and venture capital to rapidly growing companies. Founded in 1984, Summit has raised more than $11 billion in capital and has provided growth equity, recapitalization and management buyout financing to more than 300 growing companies across a range of industries and geographies. Summit Partners seeks outstanding management teams that have built their companies to market leadership. Notable investments in the software sector include McAfee, Hyperion Software, GoldenGate Software, ProClarity, and Unica.
In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners Limited, a firm authorized and regulated by the Financial Services Authority. Summit Partners Limited is a limited company registered in England and Wales with company number 4141197, and its registered office is at 20–22 Bedford Row, London, WC1R 4JS, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.
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