We are told that the partnership with Clearhaven will accelerate Korbyt’s growth trajectory by expanding reseller and technology partnerships, facilitating customer support growth, as well as supporting additional innovation in Korbyt’s industry-leading, cloud-native SaaS platform. Financial terms were not disclosed.
“We are thrilled to partner with Clearhaven Partners in this next chapter of our company’s growth,” said Ankur Ahlowalia, CEO of Korbyt. “Clearhaven’s deep software industry expertise and shared vision for growth align well with our strategic objectives. Together, Korbyt and Clearhaven will accelerate momentum as the leading provider of cloud-native digital signage and corporate communications software, further invest in the product portfolio and our experienced and passionate team, and continue exceeding customer expectations through best-in-class customer support.”
The cloud-based Korbyt Anywhere SaaS platform is described as a next-generation technology platform for corporate omni-channel communications and content management, enabling organizations to create and distribute compelling messages and visualize mission-critical data to boost contact center agent and frontline worker productivity.
Korbyt is a workplace experience technology partner of choice for 400 global enterprises, including 60 of the Fortune 100 across many industries, including financial services, manufacturing & distribution, healthcare, retail, insurance and higher education.
The Korbyt Anywhere platform enables content and data to be seamlessly shared across multiple channels such as digital signage, employee desktops, mobile devices, meeting rooms and more. Korbyt’s customers benefit from a single, highly configurable platform with robust native integrations and machine learning technology that empowers communications, IT, marketing and operations teams to visualize real-time content and better engage with both employees and customers.
Christopher Ryan, Managing Partner at Clearhaven Partners commented, “At Clearhaven, we see an enormous opportunity in workplace experience technology, as legacy solutions no longer meet enterprises’ growing need for enhanced communication and engagement solutions for distributed employees and customers. Korbyt is well positioned to capitalize on this tremendous market opportunity through its innovative platform that allows organizations to natively deliver market-leading workplace experience technology across a diverse set of endpoints and use-cases through a single integrated platform.”
Clearhaven Partners is a growth-oriented software and technology private equity investment firm. Clearhaven invests exclusively in software and software-driven companies across major thematic areas driving business software demand. Clearhaven brings experience and operating support to its portfolio companies to help them scale profitably and realize their next-stage potential.
“Clearhaven’s investment in Korbyt marks an exciting starting line for the next era of the Company’s growth and innovation,” commented Michelle Noon, Co-Founder and Managing Partner of Clearhaven. “We were impressed with Korbyt’s product vision and success in bringing a true cloud-first approach to address the digital communication demands of the modern workplace. Our alignment with Ankur and the management team underpins our enthusiasm for this partnership and investment.”
McAfee & Taft acted as legal counsel to Korbyt and Virgo Capital, who remains a minority investor in the business. Kirkland & Ellis LLP acted as legal counsel to Clearhaven Partners in the transaction.
Clearhaven Partners is a Boston-based private equity firm focused exclusively on investments in software and technology businesses. Clearhaven was founded by an investor-operator team to partner with differentiated, growing software and technology companies with up to USD 100 million in revenue. Clearhaven brings a collective 50+ years of software investing and operating experience to its portfolio companies through its partnership approach with management and its value creation playbook to help companies scale profitably.