TAMPA, Fla., Dec. 7, 2021 /PRNewswire/ — Embrace Software Inc. (Embrace), which acquires and invests in niche vertical-SaaS and on-premise software, today announced a $100 million credit commitment from CoVenture, an asset management firm investing across the capital stack of tech-enabled companies.
The funding from CoVenture will allow Embrace to continue to acquire software companies. The company previously completed a $20 million equity fundraising, bringing the total capital raised to date to $120 million. The company has already completed four acquisitions; AQ2 Technologies in March of 2021, EpowerDoc Inc, a HealthTech business in August, and Radiant RFID, an Industrial IOT business in October. Mohan Plakkot, founder and CEO of Embrace, brings his deep industry experience into play with each acquisition, having acquired over 20 software companies throughout his career.
“We see each acquisition as a partnership with the management teams that operate the business. Embrace builds on this trust by providing tools and in-house expertise to accelerate growth and profitability,” said Mohan Plakkot, CEO and Founder of Embrace Software Inc. “In Coventure we have a partner who truly understands our vision of blitz scaling software businesses through acquisitions and looks forward to building on this support.”
The Tampa-based company seeks out successful companies in the United States and Canada that provide industry-specific solutions within niche vertical market software. Embrace accelerates the existing growth of these companies and invests in their businesses to push them to their true potential. The company, which is led by entrepreneurs and enterprise technologists, looks for 100% buyouts or majority-owned investments in software companies with revenue in the range of $3 million to $30 million.
“Mohan’s ability to identify and execute acquisitions of software companies is only matched by his ability to drive ongoing profitability post-acquisition. CoVenture is extremely excited to partner with Embrace and to help drive continued growth,” said Michael Breitstein, Principal at CoVenture.
About Embrace Software
Embrace Software Inc. (Embrace) acquires and invests in niche vertical-SaaS software. The company operates under the belief that best practices followed by enterprise software are equally relevant for small software businesses. Led by entrepreneurs and enterprise technologists, the Embrace team has completed over 20 acquisitions in the vertical-Saas space. For more information visit embracesoftwareinc.
About Coventure
CoVenture is an asset management firm investing across the capital stack of tech-enabled companies, often providing the first institutional equity and/or debt financing to business operations across financial services, new forms of media, platform economies, or industries we are yet to imagine. For more information visit coventure.
