2023
year in review
As we reflect on 2023, we are proud of the resilience and commitment shown by the leaders and teams of our portfolio companies. Despite the macroeconomic volatility, we are encouraged by the healthy growth of our companies, six new investments, eight realizations, and evermore progress across our portfolio growth initiatives. Our 2023 year in review recognizes these achievements and many more – all made possible by our entire team and the founders, executives, board members, and limited partners across our extended Spectrum Equity family.
- Investments
- Liquidity
- Portfolio Growth
- Recognitions
- Team
- Our Strategy
6 Investments
Cloud-based benefits administration software for third-party administrators, health plans, and ancillary payers
Intelligence for the lithium ion battery to electric vehicle and energy storage supply chain
HOA accounting and management software
Follow-on
Risk management and core processing software for the insurance industry
Follow-on
Cybercrime detection and disruption software
Follow-on
Omnichannel data-driven marketing platform
8 Liquidity Events
Acquired by IXL Learning
Acquired by BPP Education
Majority Recapitalization
Acquired by Redbrick
Open market sale and in kind distributions (NASDAQ: DH)
Company share repurchase (NASDAQ: GDRX)
Dividend Recapitalization
Dividend Recapitalization
Portfolio Growth
M&A
One company completed a transformative merger, doubling in size and creating a more comprehensive product platform. Four other companies completed acquisitions to bolster product capabilities and expand geographically.
Recruiting
We work hard to help our companies attract exceptional talent, and we strive to continue our relationships with proven executives beyond their successful exits. We are constantly growing our network and facilitating cross-pollination of talent across the portfolio.
48
Closed searches across
27 companies
27 companies
54%
C-Suite and Board placements
3.2x
Company head count growth since Spectrum’s investment
Portfolio Summits
Given Spectrum’s business model and industry focus, we have always encouraged our management teams to learn from each other and share best practices. To foster these collaborative relationships, we have organized a number of new in-person events for the functional leaders across our portfolio, building off the success of our longstanding CEO Summit.
CEO
60 CEOs, founders and board members shared their perspectives on leadership and addressed many of the macro and operational challenges they are confronting.
“The Spectrum CEO Summit is a great way to step out of my work and reflect on what I can do better as a leader and what best practices that I can learn from others.”
Jason Krantz, Founder & Executive Chairman of Definitive Healthcare
“I like the positive energy here. A key part of being a CEO is the positive energy that you show to your ecosystem, customers, employees, and investors.”
Shailu Satish, Co-founder & COO of DispatchTech
CTO and CPO Summit
60 technology and product leaders gathered to discuss the evolving role and impact of artificial intelligence on their companies and industries.
CFO Summit
30 finance leaders collaborated on the importance of rigorous budgeting during times of economic softness and the operational challenges and opportunities that arise as companies scale.
Sales and Marketing Summit
70 go-to-market leaders joined together to share insights on building cross-departmental alignment and managing high performance teams.
Industry Recognition
Portfolio Recognition
Spectrum Recognition
Spectrum Equity Ranks No. 3 Top Growth Equity Performer
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Spectrum Equity Named to Inc. List of Founder-Friendly Investors
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Refer below for disclosures
Team Recognition
Ben Spero Ranked No. 1 Software Investor
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Jeff Haywood Ranked Top Healthcare Investor
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Steve LeSieur Ranked Top Healthcare Investor
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Parag Khandelwal Recognized as 40 Under 40 Growth Investor
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Emily Calkins Named as Top Women Leader in Growth Investing
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Julia Kuo Chen Recognized as 40 Under 40: Future Leader of PE & Women to Watch List
Read More
Refer below for disclosures
Team
We were thrilled to welcome several new additions and extend congratulations on well-deserved investment team promotions. Additionally, we were delighted to announce the opening of Spectrum’s London office. Longstanding team member and Managing Director Parag Khandelwal leads the new office and is joined by Cameron Ghorbani and Joseph Haig. Our local presence in Europe will facilitate building stronger relationships in the community and enable us to be better partners with our portfolio companies.
Promotion
Cameron GhorbaniPrincipalPromotion
Joey HaigSenior AssociatePromotion
Kyle OlanderSenior AssociatePromotion
Clay McCollumSenior AssociatePromotion
Jeremy TepperSenior AssociateDan KimballChief Marketing Officer
Jacob ClarkVice President
Emily FoxVice President Market Research
Julia DiSalvioAssociate
Jeffrey FavuzzaAssociate
Betsy GoodfriendAssociate
Maximo MoyerAssociate
Anna YuAssociate
Kaitlyn VeloriaAssociate Market Research
Seth BerlinAnalyst
Nathan HoAnalyst
Savanna SilverAnalyst
Kate TavellaAnalyst
John BroekhuizenIT Manager
Brittany DanielewskiAdministration
Dimitra GaniAdministration
Katherine LawAdministration
Community Impact
We are committed to strengthening our community through dialogue, advocacy, volunteerism and financial resources.
Our Strategy
30 years of a focused, consistent growth equity strategy supporting innovative companies in the information economy
Sector Focus
- Internet-enabled software and data services in target vertical markets
Company Characteristics
- Rapid growth, emerging category leaders
- Proven value proposition and high customer advocacy
- Scalable operating leverage
Business Model Focus
- Enduring customer relationships and resilient revenue models
Transaction Structuring
- Flexible approach to structure, governance and ownership
- Primary and secondary capital
- Minority recapitalizations and change of control
Investment Size
- $25 - $200 million, additional capacity for follow-ons
Organizational Resources
- Tenured, cohesive team with deep domain expertise
- Senior resources focused on talent, legal, technology, finance and business operations
- Growing network of world-class executives