Suralink and Luminate Capital Partners Announce Strategic Growth Investment
SALT LAKE CITY, June 1, 2022 - Suralink, the leader in request list and workflow management software for professional services firms, today announced that it received a strategic growth investment from Luminate Capital Partners.
Suralink's SaaS application integrates dynamic request list and assignment workflow functionality with a secure file hosting and sharing platform. The company's solution serves as a single hub for client interaction, increasing efficiency and improving the client experience for accounting firms and their clients. Suralink's solutions are currently used across accounting firm groups, including audit, tax, and advisory, as well as by internal corporate audit teams, security consultants, financial services firms, and investment firms. Suralink's customer base spans more than 20 countries and includes industry leaders like MNP, Armanino, Sikich, UHY, Elliott Davis, PKF Littlejohn, and others.
"This is an important milestone for us as a company," said Tim Ballantyne, Founder and CEO at Suralink. "We have always believed in the value our products provide to our customers and industry and have a vision for a broader platform as we continue to scale. We chose to partner with the Luminate team because we felt they shared in that vision for the future. With this investment, Luminate's history of successfully scaling SaaS companies, and our team's deep domain knowledge, we are poised for even greater success in the coming years. We could not be more excited about what's ahead for us, for our customers, and for our industry."
"We have been very impressed by Suralink's product and customer-focused culture, which is why we believe they are the market leader," said Andrew Baldwin, Partner at Luminate. "We are thrilled to partner with and support Tim and his team on this next chapter of growth," added Dave Ulrich, Partner at Luminate.
Mark Haidet, Operating Partner at Luminate, further said, "There is a big opportunity for Suralink as it extends its competitive differentiation and scale throughout the world's leading professional services firms."
"The success Suralink has had over the last three years is remarkable," said Nate Grossman and Steve Wolfe, Co-Founders at Growth Street Partners, existing investors in Suralink. "We look forward to continuing to work with the team as the company moves forward in its next phase of growth and continues to further its leadership position in this growing category."
Vista Point Advisors provided M&A advisory services to the shareholders of Suralink and legal advice was provided by Goodwin Proctor.
Kirkland & Ellis provided legal advice to Luminate. Terms of the transaction were not disclosed.
Suralink is the leader in request list management and approval workflow, helping businesses simplify the document workflow process while improving the client experience. The company's SaaS application integrates a dynamic request list and assignment workflow solution with a secure file hosting platform to serve as a single location for client interaction. Suralink's technology, combined with its industry expertise, helps more than 750 clients worldwide ensure security, simplicity, transparency, and accountability throughout the document workflow process. For more information, visit www.suralink.com.
About Luminate Capital
Luminate Capital Partners is a private equity firm managing almost $2 billion with a focus on growth software companies. Luminate partners with management teams to drive growth. Luminate's portfolio of market leaders has included Axonify, Compliance & Risks, Conexiom, LiquidFrameworks, Oversight Systems, PDI, StarCompliance, and Thought Industries. For more information, visit https://www.luminatecapital.com
About Growth Street Partners
Growth Street Partners provides early growth capital to rapidly growing SaaS and technology-enabled services companies located in underserved U.S. markets. The firm partners with founders who have personally lived through the problems their businesses solve. Investments include Pear Deck, ChildcareCRM, Visual Lease, Hotel Effectiveness, Suralink, HR Acuity, Govenda, PikMyKid, PublicInput, and uConnect. The firm has $200 million in assets under management across two funds. For more information, visit www.growthstreetpartners.com.