Ncontracts, a Nashville, Tenn.-based provider of vendor compliance and contract management software and services, secured a significant growth equity investment from Mainsail Partners, a San Francisco-based growth equity firm focused on investing in growing and profitable companies.
The amount of the transaction was not disclosed.
The company plans to use the growth capital to grow its product development, compliance services and sales and marketing teams, as well as to pursue potential acquisitions.
Led by Michael Berman, CEO and founder, Ncontracts is a provider of vendor and contract management services for the financial institution industry. It combines vendor management services with a comprehensive and customizable vendor and contract management SaaS platform which features summaries of vendor contracts and alert notifications to assist clients in proactively managing vendor relationships.