Acquired by the Riverside Company Inc., a St. Petersburg, Florida-based software company that develops web-based membership management software for member-based organizations of all types and sizes, has been acquired by the Riverside Company for an undisclosed amount.

Riverside will help the company continue to grow domestically and internationally. Deerpath Capital provided financing for the transaction.

Established in 1998 by CEO William H. Stover Jr. and CTO M. Hutcheson Craig, provides a software-as-a-service (SaaS-model) product that consists of a front-end online community and back-end membership software.
The software provides a front-end where users access a customized member website and private online community to create member profiles, connect with other members, register for events, join groups, collaborate via blogs, wikis, forums, and other features. The organization’s administrators uses the backend and access a system to manage member information, process dues and donations, conduct email marketing, manage events and conferences, create enterprise-level reports, gather business intelligence, and more.
The company currently serves nearly 1,000 customers globally ranging from small-staff associations to multinational corporations.

Following the investment, Stover and Craig will remain significant owners in the business and continue in their current roles as CEO and CTO, respectively.



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