Compusearch Software Systems, Inc. announced that it has attracted investment by the private equity firms JMI Equity and Arlington Capital Partners.
Chief Executive Officer Reid Jackson said, “I look forward to partnering with JMI Equity and Arlington Capital Partners. We believe Arlington’s extensive expertise in government contracting and JMI’s depth of knowledge in commercial software are highly complementary and will help to drive the next phase of the Company’s growth. Together, we will continue to help our government clients achieve real-time visibility, control, and transparency in their acquisitions, grants, and intragovernmental transfers through the effective use of the PRISM suite.”
“Over the past 5 years, Compusearch has doubled the number of clients and users that its products support while significantly expanding our line of products and services. We are excited to enter this next phase of growth with the strategic and financial support of our investment partners,” said Peter DiGiammarino, Chairman of the Board of Directors.
Compusearch is the leading provider of enterprise software and services that automate mandated business rules for public sector organizations with authority to spend, grant, or move funds. Compusearch’s PRISM and FedConnect products are installed at more than 80 agencies across the civilian, intelligence, and defense sectors. More than 40,000 federal employees rely on Compusearch’s technologies and services to perform their jobs efficiently.
“JMI is pleased to partner with Reid, Peter, and the entire Compusearch management team due to their track record of strong leadership. JMI has enjoyed a successful history of investing in companies addressing under-automated business processes. We believe that Compusearch addresses a clear pain point in the government procurement market. Their market leading PRISM solution, highly-capable technical team, and 100% compliance with government regulatory standards have positioned the Company for continued growth. We are excited to be part of this dynamic team,” said Bob Smith, General Partner at JMI Equity.
“The Federal Government has stated its intention to improve transparency in the procurement and contracting process while significantly increasing the ranks of the federal acquisition workforce. Over the past 25 years, Compusearch has built the most successful acquisition support software and services offerings in the industry and consequently is uniquely positioned to benefit from these trends. There are numerous potential opportunities across the Defense, Intelligence, and Civilian markets that, with our collective support, Compusearch is well positioned to pursue,” said Jeffrey Freed, Co-Founder and Managing Partner of Arlington Capital Partners.
The existing management team and 175 employees will remain with the Company along with the name Compusearch and the name of its products: PRISM Acquisitions, PRISM Grants, PRISM Intragovernmental, and FedConnect – brands that federal procurement and grants professionals have come to count on every day to support and manage government acquisitions.