Riverside Company Partners with YourMembership.com, Investment Helps Further Accelerate Growth
RELEASE DATE: 1.31.2012
ST. PETERSBURG, Fla. - YourMembership.com Inc., a leading global provider of web-based membership management software, today announced that it has been acquired by the Riverside Company, a global private equity investment firm with more than $3 billion of capital under management. The investment from Riverside will help further accelerate YourMembership.com's corporate growth and product development.
"We believe YourMembership.com has a lot of room to continue growing due to its large addressable market that is not yet well served," said Loren Schlachet, Riverside Managing Partner. "Only a fraction of the tens of thousands of associations in the United States use membership management software, and the benefits of YourMembership.com's SaaS-model solution are compelling."
YourMembership.com joins a growing slate of software providers in Riverside's portfolio. Riverside has a software specialization that augments its strong generalist investor track record. The firm has made 18 software investments in its history and has dedicated senior advisors, transactors and operating partners with software industry expertise.
"We are excited to partner with a growth-oriented investor such as Riverside to continue expanding the features and functionality we offer customers," said William H. Stover Jr., CEO of YourMembership.com. "Riverside's global experience investing in high-growth software companies will be a strategic asset to our firm as we look to continue our rapid growth domestically and internationally."
YourMembership.com co-founders Stover and M. Hutcheson Craig will remain significant owners in the business and continue in their current roles as CEO and CTO, respectively. Ducker Worldwide Advisors served as financial advisor to YourMembership.com for the transaction.
The Riverside Company is a global private equity firm focused on acquiring growing businesses valued at up to $200 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in more than 275 transactions. The firm's international portfolio includes more than 75 companies, and it has $3.2 billion/€2.5 billion in assets under management. Visit www.riversidecompany.com or www.riversideeurope.com for more information.
About YourMembership.com Inc.
Established in 1998 YourMembership.com is a software company that helps member-centric organizations around the world provide more value to their members, expand their membership bases, and enhance overall operational efficiencies. YourMembership.com’s SaaS-model membership software solution features three integrated components – a complete member website, online community and membership management software – that transform how organizations capture valuable member data and transform that data into actionable information. For more information visit www.YourMembership.com.
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