Maven Capital Partners leads the £6m MBO of ProspectSoft
Funding package will support the roll-out of new cloud-based SaaS software – Prospect 365
Maven has completed the £6 million management buy-out of ProspectSoft Limited, which provides niche, award-winning Customer Relationship Management (CRM) and e-commerce software for the Business-to-Business (B2B) market. Its technology can be fully integrated with clients’ existing accounting and Enterprise Resource Planning (ERP) packages including market-leading systems such as Access Dimension, Exchequer, Pegasus and Sage.
The business will utilise the funding from Maven to help roll out its new Cloud-based SaaS software application Prospect 365. The product was officially launched in December 2016 following several years of development and will benefit existing customers who choose to migrate as well as new customers. Prospect 365 will offer clients a range of new compelling features and interface all hosted on a secure Cloud environment.
The overall market is experiencing strong growth with the SaaS based CRM segment growing in excess of 30% per annum as more businesses realise the benefits in helping to grow sales and to differentiate on service levels.
ProspectSoft solutions streamline business processes such as marketing activity, sales lead capture, pipeline management and forecasting. Its flexible CRM and e-commerce software provides clients with intelligent and actionable data. The real time information generated on customer behaviour provides a valuable insight into patterns and trends which can be utilised by sales teams to make live decisions on customer accounts.
The high degree to which ProspectSoft’s software communicates with the customers’ accounting or ERP system is a key differentiator and is helping drive revenue growth as customers continue to seek systems that have the capability and functionality to manage increasing complexities. ProspectSoft prides itself in delivering systems that work first time for customers who depend on a solution and are looking to avoid the high costs associated with the larger CRM providers.
Andrew Ferguson, Partner at Maven, said: “This is an opportune time for Maven to invest in an established and growing software business like ProspectSoft. Following a period of research and development of its Cloud-based SaaS platform, the new software is being rolled out and has already received positive customer feedback. ProspectSoft benefits from a proven management team who intend to capitalise on the strong market dynamics for CRM systems and build a high value, recurring income focussed business. We are delighted to be supporting them in the delivery of their plan.”
Andrew Ardron, Managing Director at ProspectSoft, said: “Maven’s investment in ProspectSoft validates everything we have done to grow the business thus far, but more than that, it gives us the opportunity and impetus we need to make the most of our Prospect 365 platform and ensure we deliver its integration and efficiency benefits to thousands of SME businesses across the UK. Maven is very supportive of our culture, SME focus and our growth plans. We believe this investment will be good for ProspectSoft, our customers and staff, helping us to build a strong and successful future for everyone involved. I, and the other members of the ProspectSoft management team, look forward to this new chapter.”