SaaS Capital Adds Opus to Portfolio with $7.0 Million in Capital
May 23, 2019
CINCINNATI, SEATTLE, NEW YORK, May 23, 2019 – SaaS Capital, the leading credit provider to software-as-a-service (SaaS) companies, today announced that it has provided $7.0 million to support the acquisition of Opus Alacra by NewForce Equity Partners.
“We are delighted to work with SaaS Capital to finance our continued customer acquisition growth, product expansion and Innovation in KYC Due Diligence and Entity Data Aggregation technologies for our customers,” said Kelvin Dickenson, President of Opus.
“SaaS Capital was able to move quickly to facilitate our purchase of this great asset from GTCR,” noted Doug Bergeron, Managing Partner at NewForce.
Opus is the leading provider of global compliance and risk management solutions. The company’s easy-to-use SaaS solution allows financial services clients to reduce the time and cost of client onboarding while improving the speed and accuracy of the customer due diligence process.
“It has been great to work with the team at Opus to facilitate this transaction and enable the stand-alone business to now focus 100% on serving its customers.” said Todd Gardner, Managing Director of SaaS Capital. “The world is getting pretty complicated and it’s harder than ever for large financial institutions to keep track of their customers. Opus makes it easier to do just that.”
Opus Alacra, the leading provider of know your customer (KYC) technology and Entity reference data solutions, was founded on a simple premise: that faster, better decisions in compliance and risk management give businesses an extraordinary advantage in the marketplace. Today, the world’s largest financial institutions rely on Opus to free their business from the complexity of managing their KYC, AML, entity data management, regulatory reporting and compliance risks. By combining the most innovative automation platforms with unique entity data solutions, Opus turns information into action so that businesses thrive. Visit www.opus.com to learn more.
About NewForce Equity Partners
NewForce Equity Partners is a Silicon Valley-based private equity fund that acquires and revitalizes small to midsize recurring revenue tech businesses. NewForce brings deep operational expertise and resources to its portfolio companies and often partners with existing owners and investors to realize the full potential of a business with new funding and precise strategic focus.
About SaaS Capital
SaaS Capital is the leading provider of long-term Committed Credit Facilities to SaaS companies. Focusing exclusively on the SaaS business model, SaaS Capital delivers faster decisions, more capital, and longer commitments. SaaS businesses have used SaaS Capital’s Committed Credit Facilities, instead of equity, to finance growth and create hundreds of millions of dollars in enterprise value without sacrificing significant ownership or control. SaaS Capital has offices in Cincinnati and Seattle. Visit www.saas-capital.com to learn more.
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