Existing investors Vista Equity Partners and the MicroEdge management team, led by CEO Preston McKenzie, will retain majority ownership.
As part of the deal, Breal Sagemount co-founders Daniel Kim and Adam Fuller will join the MicroEdge board. Additional terms were not disclosed.
“We are very pleased to bring on Bregal Sagemount as an investor,” said McKenzie. “We are proud of our accomplishments since our founding in 1985. With the continued support and guidance of Vista Equity Partners and the addition of our new investor, Bregal Sagemount, we are in a great position to continue our upward trajectory by expanding our products and services to help our clients achieve the greatest possible impact with their giving and philanthropic initiatives.”
MicroEdge provides grant making, fund management, donor management, and corporate social responsibility software for giving organisations and corporations.
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