Case Study

has been acquired by

The Situation

Managize Corp. was plowing new ground in the retail supply chain management software area. Although the software solution was well researched and intelligently programmed, market adaptation was extremely slow. Long sales cycles coupled with other market dynamics made new sales difficult. The company was not profitable as was burning cash every month.

Managize had raised $8 million in its Series A round of financing. The venture capital firm backing Managize was beyond its comfort level and wanted out quickly. In addition, the venture firm had lost confidence in the firm's management. The venture firm did not want to continue contributing additional capital in order to keep the firm alive. It wanted a transaction completed promptly.

The Response

After an extensive and expedited search, we found several interested buyers. Negotiations were quick—in keeping with the wishes of the venture capital backer who owned a majority of the shares.

The Solution

We completed a transaction with Escalate. Escalate is based in Redwood Shores, CA and provides enterprise e-commerce applications for integrated selling. Escalate is backed by Accel Partners, the Barksdale Group, Charter Growth Capital, and Norwest Venture Partners and employs 135 people.

In Review

The transaction closed in 72 days since we had begun the assignment. It was not top dollar, but we hustled and closed the deal in record time.