GrowthZone, a Nisswa, MI-based provider of cloud-based association management software, was acquired by Greenridge Investment Partners, an Austin, Texas-based private equity firm.
In conjunction with the funding, Greenridge’s Jack Cardwell and Ben Moss have joined the GrowthZone Board. RF Investment Partners of New York and Chicago provided debt financing and an equity co-investment for the transaction.
The company intends to use the funds to continue to invest in product and the customer support.
Led by CEO Scott Juranek, GrowthZone provides a comprehensive membership management software solution to a range of associations and chambers of commerce. The products enable its customers to manage many aspects of their organizations’ operations, including contact management, membership billing, member recruitment, event management, and member communication and engagement.
The company’s association management software has been used by over 3,000 member-based organizations to grow and retain membership, generate revenue, engage and communicate with members and prospects, and streamline their day-to-day operations.