Camden Partners Wants to Help Companies Streamline the Proposal Process to Accelerate Sales
The Baltimore-based firm today announced an investment in Proposal Software, Inc., which helps relieve a major bottleneck in the sales process through accurate and efficient proposal management
Camden Partners today announced a growth buyout of Proposal Software, Inc., a leading provider of cloud-based sales, proposal generation, content management, and compliance software. The growth buyout is the third investment made by the Baltimore-based private equity firm in 2015, and the second involving cloud technology companies.
“Generating proposals that contain accurate, up-to-date information can be time-consuming and resource-intensive, creating a bottleneck in the sales process,” said Jason Tagler, Camden Partners managing member. “We believe Proposal Software’s cloud platform can help relieve that bottleneck and accelerate sales.”
Tagler, who joined Camden Partners in 2005 and leads software and technology services investments for the firm, led the growth buyout of Proposal Software and recruited seasoned SaaS executive, Craig McSavaney, to join the firm as Chief Executive Officer.
“We’re very fortunate to not only have the most successful product in our category and to serve some of the biggest and most demanding clients in the world, but also to now have owners with the vision, experience, and resources to help the company reach its extraordinary potential,” McSavaney said. “With demand for our products growing daily, this investment couldn’t have come at a better time or from a stronger, more capable firm.”
Proposal Software is the second cloud/SaaS investment Tagler led in 2015 for Camden Partners. In March, he led a growth-round investment in Steelwedge Software, the leader in cloud supply chain planning and sales and operations planning (S&OP) solutions. That company was named a leader in the sector by Gartner, a technology research firm.
Proposal Software, the deal announced today, accelerates the sales process by bringing greater efficiency and accuracy to the activity of generating sales proposals and responding to RFPs. By managing content, allowing for collaboration across departments, and streamlining the review process, Proposal Software helps firms be more productive throughout the organization.
According to a 2014 study by InsideSales.com, the market for sales acceleration technology is more than $12 billion.
Based in Broomfield, Colo., Proposal Software works with global financial services, technology, asset management, healthcare, legal, and manufacturing organizations to help them respond to RFPs faster and accelerate their sales processes.
According to Tagler, who will chair the Proposal Software Board of Directors, the investment will be used to help Proposal Software accelerate product development, expand sales and marketing, and continue to provide high quality service to its growing customer base. He will serve on the Board alongside McSavaney and co-founder and CTO, Steven Heffter, who both personally invested in this round of financing.
Camden Partners, founded in 1995 and led by Greater Baltimore Committee chairman David Warnock, focuses on seed and growth stage investments in technology, business services, education and healthcare companies.