Bryan is responsible for analyzing, executing, and monitoring investments within Gryphon’s Software Group.
Niall is responsible for analyzing, executing, and monitoring investments within Gryphon’s Software Group.
Currently serves on Gryphon Company Boards:
Paul joined Gryphon in 2019 as an Operations Advisor in Gryphon’s Software Group. He has more than 40 years’ experience managing and investing in software and related services companies during which he participated in over 50 investments in software and related services companies and served on the board of directors of over 30 software and related services companies.
At Gryphon, Paul works with Gryphon’s investment professionals to evaluate new investments and then works with the management teams of Gryphon portfolio companies to maximize short- and long-term operating and financial performance through strategic, commercial, and operational improvements. Paul previously was a Director of the board of Gryphon portfolio company FieldRoutes.
Gryphon Investors (“Gryphon”), a leading middle-market private equity firm, announced today that it has acquired Rootstock Software (“Rootstock” or “the company”), a leading provider of cloud-based Enterprise Resource Planning (“ERP”) software to manufacturing, distribution, and supply chain organizations, which are increasingly seeking cloud-native, purpose-built ERP solutions to streamline business operations. Both Salesforce Ventures and the company’s management team re-invested in the deal alongside Gryphon. Terms of the deal were not disclosed.
Rootstock provides a market-leading, composable cloud ERP solution built on the Salesforce Platform. The company’s software helps manufacturers, distributors, and other organizations run their everyday business operations by linking customers, suppliers, and employers to critical data across their organizations at any time and from anywhere. Rootstock has embedded deep industry knowledge and business logic into the design of the platform, which combines cutting-edge, enterprise-grade technology infrastructure, integrated analytics, advanced reporting, and AI / ML capabilities. Headquartered in San Ramon, CA, Rootstock serves a blue-chip client base across North American and international markets.
Jon Cheek, Deal Partner and Head of Gryphon’s Software Group, said, “Global supply chain challenges over the last two years have highlighted the need for manufacturers and distributors to modernize the technology that controls their core business operations and processes. Rootstock’s ERP platform provides best-in-class cloud software that improves the connectivity between companies and their customers, suppliers, and employees. We’re pleased to partner with Salesforce and the Rootstock management team to address the strong and increasing market demand for the company’s solutions.”
“We are excited by the relationship that Rootstock has built with Salesforce to enable a modern, flexible product that drives efficiency for all organizations but that is uniquely differentiated by the symbiotic value it provides to users of the Salesforce ecosystem,” said Sandy McKinnon, Principal of Gryphon’s Software Group.
Rootstock’s management team will be led by David Stephans, who as part of the transaction has been named CEO of the company following his nine year tenure as an executive with Rootstock, while founder Pat Garrehy will join Rootstock’s Board of Directors alongside several industry veterans and operating advisors.
“Gryphon’s deep experience growing businesses organically and through acquisitions, particularly in the software sector, will position Rootstock to take advantage of robust opportunities both in the U.S. and internationally,” said Mr. Stephans. “We look forward to working closely with the Gryphon team as we continue to innovate and build upon our success.”
Added Mr. Garrehy, “I am pleased to have found such an exciting home for the company I have built over the past fifteen years, and I am looking forward to the tremendous opportunity ahead for Rootstock in partnership with Gryphon to accelerate growth, deepen our Cloud ERP products, and better serve our customers.”
Lightning Partners served as financial advisor and Reed Smith served as legal advisor to Rootstock in this transaction. William Blair served as financial advisor and Gibson Dunn served as legal advisor to Gryphon in this transaction.
Rootstock Software’s Cloud ERP solutions help manufacturers, distributors, and supply chain organizations digitally transform their operations. Built on the Salesforce Platform, Rootstock provides customers the benefits of an enterprise cloud environment and an ERP system that is intuitive, flexible, and digitally connected. The company offers training, product knowledge, and support to help customers configure Rootstock Cloud ERP to meet their needs. This comprehensive offering empowers clients to deliver a superior customer experience, streamline and scale their operations, and out-service the competition. For more information, visit www.rootstock.com.
About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $9 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.
About Salesforce Ventures
Salesforce Ventures helps enterprising founders build companies that reinvent the way the world works. Since 2009, we’ve invested in and partnered with more than 400 of the world’s most tenacious enterprise software companies from seed to IPO, including Airtable, Databricks, DocuSign, Guild Education, Hopin, monday.com, nCino, Snowflake, Snyk, Stripe, Tanium, and Zoom. Salesforce Ventures leverages our decades of expertise in the cloud and our long-term relationships with key decision-makers at thousands of businesses around the world to give our portfolio companies an unfair advantage, help them build credibility, and accelerate growth. Salesforce Ventures has invested in more than 25 countries with offices all over the world including in San Francisco, Irvine, New York, London, Tokyo, and Sydney. Follow @SalesforceVC and learn more at www.salesforceventures.com.
Rootstock Software is a global provider of cloud ERP solutions built on the Salesforce Platform that offer manufacturing, distribution, and supply chain organizations a single platform to grow and manage their businesses.
Meazure Learning, the premier provider of high-stakes online testing services for the higher education and professional testing markets, announced today the acquisition of Scantron Corporation’s Certification and Licensure business. The acquisition includes the Certification and Licensure business’s test center network, related assessment software, exam development, psychometric, and client services and solutions expert teams. The acquisition positions Meazure Learning for continued growth by augmenting its best-in-class remote proctoring with a scaled, global test center network and expanded exam development services, broadening its offering for the professional certification and licensure testing market.
Meazure Learning saw increased demand for its market-leading online proctoring platform when the COVID-19 pandemic forced test centers to close. Today, program owners want to provide test-takers the choice of taking exams securely in remote environments or in a traditional test center. A multi-modal delivery solution provides convenience and flexibility for test-takers to sit for an exam when and where they choose. Meazure Learning is meeting this growing market demand by increasing its existing network of 300 test centers in Canada to over 1,600 test sites globally with the addition of Scantron’s Certification and Licensure test center network.
In addition to expanding its secure delivery solutions, the acquisition will also strengthen Meazure Learning’s exam development and psychometric services. The exam development and psychometric team will double in size and more importantly, the combined expertise of the two organizations will give clients access to additional capacity, thought leadership, research, and innovative best practices.
“The acquisition of Scantron’s Certification and Licensure business aligns with Meazure Learning’s purpose of helping move people forward in their educational and professional pursuits.” said Tim McClinton, CEO of Meazure Learning. “The combination of our best-in-class remote proctoring platform and newly expanded global test center network provides our customers and partners with the flexibility, reach, and innovative technology to deliver an exceptional candidate experience and superior outcomes for test-takers.”
About Meazure Learning
Meazure Learning – created from the merger between ProctorU and Yardstick – provides secure, reliable, and convenient test development and administration solutions for academic and professional credentialing programs. As the most experienced online proctoring provider and a leader in innovative psychometric practices, we believe testing requires a balanced partnership between human-first services and advanced technology. We empower our partners, test-takers, and industry through our purpose to move people forward in their educational, professional, and personal lives. To learn more, visit us at www.MeazureLearning.com.
About Scantron Certification and Licensure
Scantron’s Certification and Licensure business includes assessment development, psychometric, and client services from a deeply experienced and tenured team, state-of-the-art, proprietary assessment technology, and a global test center network. Built on more than 30 years of experience and leadership in the science of psychometrics, professional test development, and internet-based test delivery, the companies’ combined offerings will provide an enhanced set of products and services while continuing to provide the expertise clients have come to rely on. The Scantron Certification and Licensure business has a location in Morrisville, North Carolina. The additional assets of Scantron are not part of the acquisition and will continue to operate under the Scantron brand.
Bobby is responsible for analyzing, executing, and monitoring investments within Gryphon’s Software Group, including Ncontracts and Meazure Learning.
Meazure Learning, the leading provider of online test development and delivery solutions for higher-education and professional testing organizations, today announced Tim McClinton as its new Chief Executive Officer.
Meazure Learning is the newly established brand combining ProctorU, the largest provider of identity verification and online proctoring services, and Yardstick Assessment Strategies, a leader in exam development, delivery, and psychometric services. Meazure Learning is a portfolio company of Gryphon Investors, a leading middle-market private equity firm based in San Francisco.
McClinton brings over 20 years of EdTech and educational venture leadership experience in driving growth across a broad portfolio of services and markets. McClinton will lead Meazure Learning’s continued expansion into the professional credentialing and higher-education markets through new and innovative assessment services backed by advanced technology and security.
“Tim’s proven success in leading businesses that provide advanced technology, assessments, and related services to help people move forward in their lives is a perfect fit with our mission,” says Meazure Learning board chair Steve Hoffman. “He brings a strong track record of building human-centered technology solutions to help individuals reach their educational and professional goals.”
Most recently, McClinton served as President at Ascend Learning, leading its Safety and Security business across several brands to provide assessment and training solutions for safety and security professionals. At Ascend, McClinton led the digital transformation of the Safety & Security segment and accelerated expansion into new high-growth markets like cybersecurity and EHS software. Prior to Ascend, McClinton served as President and Managing Director at ACAMS and General Manager at Becker Professional Education, two Adtalam Global Education companies.
“We are thrilled to have Tim joining the Meazure Learning team,” adds Carl Theobald, Operating Partner to Gryphon Investor’s software group. “We continue to see strong market demand for online assessment and exam integrity services, and Tim is the perfect person to lead us through the next stage of our growth.”
McClinton holds a BA from DePaul University, an MBA from the University of Notre Dame – Mendoza College of Business, and several professional designations.
About Meazure Learning
Meazure Learning – created from the merger between ProctorU and Yardstick – provides secure, reliable, and convenient test development and administration solutions for academic and professional credentialing programs. As the most experienced online proctoring provider and a leader in innovative psychometric practices, we believe testing requires a balanced partnership between human-first services and advanced technology. We empower our partners, test-takers, and industry through our mission to move people forward in their educational, professional, and personal lives. To learn more, visit us at www.meazurelearning.com.
About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $8.3 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.
Gryphon Investors (“Gryphon”), a leading middle-market private equity firm, announced today that it has executed definitive documentation for the sale of its portfolio company FieldRoutes (“FieldRoutes” or “the Company”) to ServiceTitan, a leading software provider for the trades. Gryphon originally invested in the Company, formerly known as PestRoutes, in January 2020. The transaction is subject to the completion of closing conditions set forth in the definitive agreement, including obtaining regulatory approvals.
FieldRoutes, headquartered in McKinney, Texas, is a leading provider of software for pest control, lawn care, and other field service businesses. The Company serves residential and commercial field service companies, automating many aspects of field service operations for enterprise and small business customers with office management, advanced route optimization, payment processing, digital sales, marketing, and customer acquisition capabilities.
Jon Cheek, Managing Director and Co-Head of Gryphon’s Software Group, said, “We are proud of what the FieldRoutes team has accomplished over the past two years and are extremely pleased to have this successful outcome represent the first exit for the Gryphon Software Group. Our conviction in the opportunity for software innovation in the field services industry was perfectly complemented by FieldRoutes’ product and thought leadership in the market, which we are confident will persist as the company combines with ServiceTitan. We continue to be excited by this sector and will look for further opportunities to partner with market-leading field services software businesses.”
William Chaney, CEO of FieldRoutes, added, “Under Gryphon’s ownership, we completed several strategic initiatives and operational improvements to create significant value. Implementing our enhanced billing and payment platform, accelerating new product development for our core markets, and rebranding the company and expanding into the lawn care industry all contributed to significant growth over the course of our two-year partnership with Gryphon. We are now excited to continue our growth with ServiceTitan.”
Houlihan Lokey acted as financial advisor to Gryphon, and Kirkland & Ellis LLP served as Gryphon’s legal counsel.
FieldRoutes is a cloud-based and mobile SaaS provider for field service businesses. FieldRoutes’ platform automates many aspects of field service operations for enterprise and small business customers with office management, advanced route optimization, payment processing, digital sales, marketing, and customer acquisition capabilities. Contractors across the country rely on FieldRoutes to provide them with data-driven insights to become more efficient and drive revenue to their business, so they can grow quickly, scale intelligently and serve their customers relentlessly. In 2018 PestRoutes and Lobster Marketing joined together, and in 2021 unified under one brand, FieldRoutes.
About Gryphon Investors
Based in San Francisco, Gryphon Investors (www.gryphoninvestors.com) is a leading private equity firm focused on profitably growing and competitively enhancing middle-market companies in partnership with experienced management. The firm has managed over $7.5 billion of equity investments and capital since 1997. Gryphon targets making equity investments of $50 million to $300 million in portfolio companies with enterprise values ranging from approximately $100 million to $600 million. Gryphon prioritizes investment opportunities where it can form strong partnerships with owners and executives to build leading companies, utilizing Gryphon’s capital, specialized professional resources, and operational expertise.
Ncontracts, a leading provider of integrated risk management solutions for the financial services industry, announced that it has acquired the OnSemble intranet portal from Passageways, Inc. The OnSemble intranet portal provides a full communication platform that activates a company’s culture by keeping employees informed, aligned, engaged, and enabled.
“We are excited about the capabilities this team and product from OnSemble bring to our organization,” said Michael Berman, CEO of Ncontracts. “We’ve seen tremendous appetite for our intranet solution since acquiring BancIntranets in 2020 as it fills a large need in our customer’s internal communication and information sharing workflows. The addition of the OnSemble solution and customer base will allow us to accelerate the growth of this area of our business and bring new capabilities to our customers.”
With this acquisition Ncontracts will expand its comprehensive software platform that automates the development and updating of employee intranets for the financial services industry, which includes banks, credit unions, mortgage companies, and fintechs, to ensure that information needed for compliance and risk management can be rapidly shared and distributed across the organization.
“We’re thrilled to be joining the Ncontracts organization and continue to grow our intranet solutions,” said Thomas Millay, General Manager of OnSemble Software. “The OnSemble intranet portal has a strong base of customers in the financial services industry and combining our insights with the growing intranet portfolio at Ncontracts is great news for our customers and the marketplace.”
Ncontracts’ integrated risk management solution enables banks, credit unions, mortgage lenders, and fintech companies in all 50 US states to automate their risk management and compliance activities. Clients save time in assessing and managing risks related to the financial products they market to consumers and ensuring that their compliance activities are accurate and complete. The need for this “RegTech” software has become more critical as federal and state regulations have become more complex, and as the impact of COVID-19, PPP loans, and lending diversity and equity initiatives continue to evolve. Ncontracts was advised by Gibson, Dunn & Crutcher LLP throughout this transaction.
Ncontracts provides integrated risk management and compliance software to a rapidly expanding customer base of almost 4,000 financial institutions and mortgage companies in the United States. The company’s powerful combination of software and services enables financial institutions to achieve their risk management and compliance goals with an integrated, user-friendly, cloud-based solution suite that encompasses vendor risk, organizational risk, audit risk, and compliance risk management. The company has been named to the Inc. 5000 fastest-growing private companies in America for the 3rd consecutive year. For more information visit www.ncontracts.com or follow the company on LinkedIn and Twitter.
About OnSemble from Passageways
Started in 2003 at a business school competition at Purdue University, OnSemble is a business unit of Passageways, a SaaS provider of software that inspires and enables teams to do their best work. For nearly twenty years, Passageways’ OnSemble business unit has delivered world-class intranet solutions to midsize consumer services organizations. For more information, visit www.onsembleintranet.com.