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15 Years OfBuilding Businesses & Exceptional Outcomes
For 15 years, we’ve been honored to partner with visionary founders who continually redefine industry standards and work to create product category-leading companies that have a positive impact on their respective stakeholders. Each milestone we’ve achieved is a testament to the unwavering dedication and collaborative spirit of our founders and management teams. As we reflect on our 15 years, we’re proud to recognize the collective growth and accomplishments of our portfolio companies and team.
Since our inception, we set out to build a distinctive firm – one that places founders at the forefront and cultivates purpose-driven partnerships, paving the way for accelerated growth. Today, we’re honored to have partnered with over 60 portfolio companies across a variety of sectors, working closely with founders and their teams. Click through to revisit our growth journey over the years.
Please see the footnote for a list of related disclosures.
175
Total Transactions
2008Seedlings of Serent
Serent Capital was founded with the goal of helping exceptional, bootstrapped companies scale through an operational approach. We proudly closed our first fund and opened our office in San Francisco, powered by a small but mighty team.
2013Cultivating Expertise and Nurturing Growth
With the closing of our second fund, we established ourselves as investors with profound industry expertise across multiple sectors. Subsequently, we started the development of our Growth Team and Sourcing Functions to implement strategic initiatives for our portfolio companies.
New Investments
- CallAssistant / Strategic Fundraising (CASFI)
- Equinox Healthcare
- Tricolor Auto
- Cardon Outreach
- C2 Education
- minuteKEY
- Intygral
- United Allergy Services
- Safety Services Company
- Knowland
- Aftermath
- Optimal Blue
2017Breaking Barriers: Surpassing the Billion-Dollar Milestone
We successfully closed Fund III, marking a significant milestone of having raised over $1 billion in capital commitments since our inception. The team expanded impressively, nearing 40 dedicated team members. Building on our vertical expertise, we ventured into new markets across the United States, as part of our continuous growth journey.
New Investments
Exited Investments
- Equinox Healthcare
- CallAssistant / Strategic Fundraising (CASFI)
- Tricolor Auto
- Intygral
- Cardon Outreach
- Diamond Mind
- Commissions Inc. (CINC)
- Mercury Network
2020Expanding Our Reach Beyond Borders
We continued our trajectory of geographical expansion. Starting in 2018, we made our first investment in Canada and built on this foundation by opening our second office in Austin, Texas—a warm ‘howdy’ to the Lone Star State. Our global reach extended even further when we made our inaugural investment in New Zealand and closed our 4th fund at $750 million of capital commitments.
New Investments
- Motility
- Progress Learning
- CoConstruct / Buildertrend
- KORE Software
- Axiom Medical
- MeridianLink
- Aria Care Partners
- GDS Link
- KEV Group
- Real Green Systems / WorkWave
- Payliance
- Davisware
- ePayPolicy
- Sceptre Hospitality Resources
- Landscape Management Network
- Professional Health Care Network
- Revinate
- Quorum
- Actionstep
- Employer Direct Healthcare
- Procurement Partners
- Book4Time
- Dyad
Exited Investments
2022Paving the Way for Enhanced Growth
We closed our 5th and most recent fund, our largest to date at $1.1 billion of capital commitments. This provided us with the opportunity to expand and evolve our growth resources while continuing to create value for our companies. Notably, these efforts translated to $1.38 billion in revenue* over the last twelve months across our portfolio companies.
*Revenue generated excludes the following portfolio companies: People 2.0, CoreLogic, MeridianLink, and WorkWave.
2023The Serent Story: 15 Years of Growth and Counting
In 2023, we were excited to celebrate 15 years of Serent! With our bustling offices in San Francisco and Austin, Texas, growth was at the core of our operations. Boasting a team of over 80 members, more than 60 platform investments, and $5 billion of assets under management, we are eager and ready for the next 15 years of purpose-driven partnerships and growth.
New Investments
Exited Investments
In Review2023
We consider it a privilege to contribute to our founders’ journeys and celebrate alongside them. Looking back at 2023, we were devoted to fostering growth, not only in our portfolio companies but within our own team, working to innovate and operate at the highest level.
2023 Highlights
12,000+
employees across all companies*
$2.27B+
in revenue generated across the portfolio*
32
value creation initiatives implemented
Advice From FoundersFounder Spotlight
To commemorate 15 years of Serent, here are insights from the remarkable founders we've partnered with for fellow founders just starting on this transformational journey.
For me, scaling a business required an obsessive focus on realizing my ever crystalizing vision… while containing that desire to chase new endeavors along the way. Persistence toward a clear vision was my most potent weapon in the pursuit of success.
Change is good – and required – for growth. Recall that from Day 1 to this first transaction – things changed. A lot. Why would you think that would stop?
Consciously separate how you view yourself as a founder, your job as a CEO, and your inherent value as a person. When it comes time for big decisions, failure to think through our emotions on these distinct roles can, at best, lead to confusion and, at worst, place us as the impediment to the full potential of the very thing we want to succeed.
Always focus on providing value. Does that planned feature have value for the people using the product or is it just a shiny idea? What unique pain or opportunity can you help address for your company’s partners? What does your team value in a work environment and what can you do to enable that?
It is paramount to live in a continuous optimization posture and hire great leaders across each functional area of the business to implement, maintain, and optimize your processes. There is no way to scale and stay ahead of competitors without continuous process optimization and solid leaders underneath you.
Clear communication and strategic alignment will be your pillars. Regular updates, open dialogue (and pushback), and a collaborative vision for the future will pave the way for mutual success. By capitalizing on Serent’s network and understanding, you can explore new growth avenues, build a world-class team, and form innovative partnerships.
My journey with Serent Capital has been an amazing ride. Our employees and clients have been given a great opportunity to be a part of a successful new organization, and we look forward to the new products resulting from a well-organized and prioritized product roadmap. Serent Capital has been completely supportive of me, and we are true partners, looking out for the good of our company together.
The product is never done. Recognize there will always be more to do. Be explicit and caluclated about your roadmap in service to your top company goals and KPIs.
Surround yourself with people who have scaled businesses before. From team members to board members, to fellow founders, to advisors, to lawyers, to consultants, find the people who have scaled businesses and learn everything you can from them. They’ve gone through many of the same challenges you are wrestling with or are about to face and will be incredible guides on the exciting journey ahead.
Entrepreneurship can be a roller coaster of success and failure and emotional highs and lows; don’t let those define you. Build a team you trust as soon as possible. Do not neglect your health or your relationships. Be careful about who you partner with and even more cautious with whom you take money from.
I’ve learned the hard way that scaling a business to $20M+ ARR has less to do with the product and more to do with hiring the right people, remaining focused, and setting achievable goals. Once you have that formula right, move out of the way and let your team do their job.
I founded FranConnect at age 28 with no capital or venture investment. We had happy clients and were very profitable but had a weak management team structure. Finding and hiring super-qualified folks was challenging. That’s when we found Serent, and after 10 years together, it’s been a great partnership and good friendship.
Stay true to your mission, and continue to trust your instincts. You know your business best. Be open to both corporate and personal growth and change, and with that trust, the process. Lean on Serent for those areas that you are not an expert in or have the resources to do well.
Establishing and running a business demands unwavering fortitude. It necessitates qualities like courage, inquisitiveness, discipline, and resilience.
Serent is a fantastic team to work with. Take full advantage of their expertise and direction while continuing to trust the same instincts that have made your business successful.
Our AccoladesAward-Winning Approach
The Founder-Friendly Investors award is awarded by Inc., a third-party that is not affiliated with Serent Capital. Serent Capital has paid an application fee to participate in this process. Inc’s recognition is not indicative of Serent’s future performance and does not reflect the experience of, or any rating by, Serent’s investors. TheBluWave Top 50 PE award is awarded by BluWave, a third-party that is not affiliated with Serent Capital. Serent Capital has not paid an application fee to participate in this process. BluWave’s recognition is not indicative of Serent’s future performance and does not reflect the experience of, or any rating by, Serent’s investors. The Growth Cap award is awarded by Growth Cap, a third-party that is not affiliated with Serent Capital. Serent Capital has paid an application fee to participate in this process. Growth Cap’s recognition is not indicative of Serent’s future performance and does not reflect the experience of, or any rating by, Serent’s investors.
EventsBuilding Community
Growth TeamUnlocking Your Growth Potential with Serent
Your growth journey accelerated. Gain hands-on support from our team of 25+ top-tier former consultants and operators across five areas that help our portfolio companies execute on strategic growth initiatives.
Accelerating growth alongside management teams
-
25+Growth Team Members
-
150Strategic Initiatives
-
$0Charged in Consulting Fees
- Value Creation Operators
- Centers of Excellence
- Human Capital
- Operating Directors
- Cross-Portfolio Operations
Spencer Calvert,
VP, Value Creation Operations
VP, Value Creation Operations
InsightsRevisiting the Highlights
Investment CriteriaCreating Category Leaders
We partner with emerging technology and tech-enabled service businesses that are driving change in local economies and communities and build them into category-leading companies.
Investment Sectors
We have deep industry expertise across dozens of B2B software sectors.
-
$15MM to $250MM
in Enterprise Value (smaller for add-ons) -
$5MM to $100MM
Recurring Revenue (or a path on $10MM) -
20% - 1000%+
Growth -
30-100% Ownership
Minority or Majority Transactions -
Growth Technology & Services
Vertical Specific B2B Software, Data, Payments, or Tech-Enabled Services Companies -
Profitability
Business that are profitable or have a path to profitability
*The above characteristics describe Serent's typical investment parameters, but there can be no guarantee that all portfolio companies in which Serent invests will have these features.
TeamMeet Our Team
Explore the newest members of the Serent team who bring fresh perspectives and innovative ideas, together with those stepping into new roles to drive our companies forward.
Snapshots of Serent
The Serent team has always enjoyed a culture that empowers team members and focuses on career growth. But we also know how to have fun! Shared experiences like these have allowed us to create connections that enrich our portfolio. Serent would not be where we are today without the people (past and present) who have left their fingerprints on the Firm.