Silverback Acquisitions Raises $11.5M From Austin Ventures
Silverback Acquisitions, an Austin, Texas-based value-oriented consolidator of subscale enterprise software companies, has raised $11.5m in a seed funding round led by Austin Ventures.
AV has also committed a total equity growth-capital investment of up to $50m.
The company, which was launched in 2010 by Jack McDonald, who serves as Chairman and CEO, aims to make disciplined acquisitions of financially- and operationally-challenged enterprise software businesses and improve their performance by focusing on long-term customer success and a lean operating model emphasizing Internet-enabled partnerships and global sourcing.
Silverback Acquisitions will evaluate potential deals in the United States and abroad.
Chris Ney, most recently a Trilogy, Inc. executive, is Silverback’s president and COO, and on the founding team.