[December 12, 2018] |
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ShootProof Announces Strategic Investment by Providence Equity
ShootProof (the "Company"), a leading global provider of online gallery
software and related services for professional and semi-professional
photographers, today announced a significant growth investment by
Providence Strategic Growth (PSG), the growth equity affiliate of
Providence Equity Partners (News - Alert), a premier global asset management firm
focused on the media, communications, education and information
industries. Terms of the transaction were not disclosed.
Founded in 2010, ShootProof is a user-friendly, technology-enabled
platform that allows photographers to share and sell their work
commission-free. ShootProof is a one-stop shop for photographers around
the world, offering a suite of professional tools to address all of
their business needs, including online photo proofing, customizable
password-protected galleries and mobile apps, invoicing, contracts and
printing through its extensive network of partner labs. The Company also
provides tools that help photographers manage their ongoing businesses,
including email marketing and a dashboard for monitoring sales activity.
Tens of thousands of photographers in 38 countries use ShootProof's
galleries and services, which are available in 18 languages.
"PSG has deep experience and an impressive track record of partnering
with founder-led software and technology-enabled services businesses,
making them the ideal partner for ShootProof as we look to scale our
platform and capitalize on market opportunities that we believe will
accelerate our growth," said Colin Breece, Co-Founder of ShootProof.
Robert Swarthout, Co-Founder of ShootProof, added, "We are passionate
about providing photographers with the tools they need to run successful
and sustainable businesses. PSG shares our vision for technology
innovation, and their strategic and operational expertise in building
vertical SaaS (News - Alert) companies wil be invaluable as we expand our platform
with new services that enhance the user-experience and help
photographers focus on what matters most."
"ShootProof has built an exceptional brand and strong reputation in a
large, highly fragmented vertical market combining software and
payments," said Matthew Stone, Principal at PSG. "Colin and Robert have
built an excellent technology platform, and we have been impressed with
the company's growing offering and deep customer relationships. We are
very excited to partner with this talented team to build on ShootProof's
success."
GrowthPoint Technology Partners served as financial advisor to
ShootProof. Weil, Gotshal & Manges LLP served as legal advisor to PSG,
and Nelson Mullins Riley & Scarborough, LLP served as legal advisor to
ShootProof.
About ShootProof
ShootProof is a leading provider of online gallery software and sales
tools for professional and semi-professional photographers around the
world. The user-friendly platform enables photographers to share and
sell their photos commission-free in customizable galleries and apps,
and deliver a better client experience with digital downloads, proofing,
printing, and more. Founded in 2010, ShootProof serves tens of thousands
of photographers in 38 countries, offering 18 different languages for
galleries. ShootProof is headquartered in Atlanta, GA. For more
information, please visit www.shootproof.com.
About Providence Strategic Growth Capital Partners L.L.C.
Providence Strategic Growth ("PSG") is an affiliate of Providence Equity
Partners ("Providence"). Established in 2014, PSG focuses on growth
equity investments in lower middle market software and
technology-enabled service companies, primarily in North America.
Providence is a premier global asset management firm that pioneered a
sector-focused approach to private equity investing with the vision that
a dedicated team of industry experts could build exceptional companies
of enduring value. Since the firm's inception in 1989, Providence has
invested in more than 180 companies and is a leading equity investment
firm focused on the media, communications, education and information
industries. Providence is headquartered in Providence, RI, and also has
offices in New York and London. For more information on PSG, please
visit http://www.provequity.com/private-equity/psg,
and for more information on Providence, please visit www.provequity.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181212005794/en/
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