Ridgemont Equity Partners, a middle market buyout and growth equity investor, has closed an equity investment in Simpleview, a provider of software and digital marketing services to destination marketing organisations (DMOs).
The existing management team, led by chief executive Ryan George and president Rich Reasons, will continue to run the business and has invested alongside Ridgemont in the transaction.
The financial terms of the transaction were not disclosed.
Headquartered in Tucson, Arizona, Simpleview provides a cloud-based comprehensive technology platform which connects DMOs around the world to travellers, meeting planners, and local businesses. The company’s services include customer relationship management software, content management systems, interactive marketing services and a vertical ad network. DMOs implement Simpleview’s products to attract travellers to their area and drive economic impact through a streamlined sales and marketing process.
“Simpleview is the clear leader in software and services for the DMO market,” says Kurt Leedy, a vice president at Ridgemont. “Our team has been highly impressed with the platform Simpleview has created and we share the Company’s vision for its next stage of growth. We look forward to working with the Simpleview management team and its talented group of innovators.”
“Our partnership with Ridgemont enables Simpleview to grow by scaling our already robust service offering and expanding our customer reach, both nationally and globally,” says George. “We are very excited to join forces with this experienced investment team and anticipate an even brighter future for our company, the destinations that we serve, and the tourism industry overall.”
ArchPoint Partners served as exclusive financial adviser to Simpleview and Silicon Valley Bank provided financing for the transaction.
