CyberGrants, LLC, an Andover, Massachusetts-based provider of software-as-a-service (SaaS) solutions supporting employee engagement, grants management and corporate social responsibility, received an equity investment from Waud Capital Partners, LLC, a middle-market private equity firm headquartered in Chicago, IL.
Coincident with the investment, Mark Layden, software executive with over 25 years of leadership experience within the application software industry, including both start-up companies as well as large global enterprises such as SAP AG and FICO, has been appointed as the company’s Chief Executive Officer. Following it, Sean and Karen Flanagan, the company’s founders, will retain a significant ownership position alongside Waud Capital and will continue to have an active role with the company.
Mr. Flanagan will also serve on its board of directors.
Founded in 1999 by Sean Flanagan, CyberGrants provides a fully-hosted web-based integrated grants management and employee engagement suite to large companies and foundations worldwide, including 40% of the Fortune 100. Through its solutions, the company connects companies, foundations, employees and not-for-profits to support the delivery of more than $2.5 billion of charitable giving worldwide annually.