Imagineer Technology Group Acquired by Dynamo Software
The Founder and CEO of Synap, Jeremie Bacon, developed a Software as a Service (“SaaS”) company that built a Customer Relationship Management (“CRM”) and portfolio management solution for the alternative asset management industry. With this former firm, Backstop Solutions, they were able to achieve a 10% share of this $300m market, building revenue to $30m/year. With a change in their focus to a much larger market with a broad range of companies with a total addressable market of $5 billion, we had confidence that this CEO and his team had the experience, passion, and technical ability to build another such successful company: Synap/Imagineer.
Quick Facts for Investors
Why We Invested
The acquisition of Imagineer Technology Group confirmed our long-held belief in the primacy of the jockey over the horse. Bacon maximized the value of the company in the middle of an environment of unprecedented business challenges. Our deep research and due diligence process predicted his capability to salvage a deal with a return on capital when most CEOs would have failed. Additionally, our focus at VCapital on Midwest companies with reasonable pre-money valuations resulted in a better return on capital over many Silicon Valley deals.