Event marketing platform RainFocus has announced a US$40m strategic growth investment from JMI Equity, a growth equity firm focused on investing in software companies.
The funding will be used to for expansion and accelerating the company’s product development efforts, says the RainFocus CEO JR Sherman (pictured), former President at Lanyon and Active Network.
“The culture and team at JMI are uniquely suited and equipped to augment our strong leadership team, guide implementation of scalable infrastructure, and fuel our growth. JMI’s extensive history of success in the SaaS space made them the ideal partner for the disruptive strategy at RainFocus,” says Sherman.
The funding will enable RainFocus to focus on strategic growth and development including acquiring industry leaders for its executive team.
RainFocus was launched in 2014 and, says Sherman: “RainFocus is accelerating with significant and ambitious goals. This partnership with JMI allows us to achieve our mission and bring SaaS innovation to our industry at an exponential pace.”
In conjunction with the investment, David Greenberg and Larry Contrella, General Partner and Principal at JMI, respectively, have joined the RainFocus Board of Directors.
“We’re thrilled to partner with the RainFocus team in the next phase of their growth,” says Greenberg. Contrella adds: “We see tremendous potential for RainFocus to further transform the event marketing industry through the company’s market-leading product and commitment to delivering a significant return on investment to their customers.”
RainFocus is a complete event management platform built from the ground up to service all events from one dashboard. The company is headquartered in Lehi, Utah. Learn more at RainFocus.com