Pamlico Invests in SaaS Government Technology Company Cartegraph
Pamlico Capital ("Pamlico") and the management team of Cartegraph Systems, Inc. ("Cartegraph" or the "Company"), a provider of SaaS-based asset management solutions to local governments, announced today that Pamlico has completed a growth investment in the Company. CEO Jake Schneider and the Cartegraph management team will continue to lead the growth of the Company moving forward. Specific terms of the transaction were not disclosed.
Based in Dubuque, IA, Cartegraph devotes itself to cities, counties, and government agencies seeking to be more effective, efficient, and productive in their daily operations. The Company builds software that empowers users to capture infrastructure asset data, analyze it, and use it to prepare for the future.
“Cartegraph is at a great moment on our journey to building high-performance government. Our team and our technology are the best they’ve ever been—and we have some big ideas to continue to grow,” said Jake Schneider, Cartegraph President and CEO. “After getting to know the team from Pamlico, I’m confident they share our vision and are absolutely the right partner for this next chapter of Cartegraph’s story.”
“Pamlico was seeking a technology investment focused on the local government market, as we see tremendous opportunity for increased efficiencies in cities and counties, which can be accelerated through software adoption. When we met the Cartegraph management team, we knew they were passionate about this opportunity,” said Eric Wilkins, Pamlico Partner. Christiane Felts, Pamlico Vice President added, “We look forward to driving additional core product innovation, while also expanding the existing offering to more broadly address the asset management and business operations needs of Cartegraph’s civic clients.”
Pamlico invested in Cartegraph in partnership with founder Scott Taylor. Scott will remain as an ongoing shareholder, consistent with Pamlico’s desire to partner with and grow founder-owned businesses.
“It has been such a privilege to grow this business for nearly 23 years,” said Taylor. “I truly believe that Cartegraph is revolutionizing the way local government operates. The company is primed for growth and this investment from Pamlico is coming at the right moment. I am excited for Cartegraph’s continued success.”
Cartegraph was advised by GLC Advisors (exclusive financial advisor) and Bryan Cave LLP (legal advisor). Pamlico was advised by Alston & Bird LLP (legal advisor).
Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $200 million alongside founders and proven leaders in its target industries: communications, healthcare, services and software. The firm, based in Charlotte, NC, has assets under management of almost $3.5 billion. For additional information, please visit www.pamlicocapital.com.