Chartbeat, a media software platform and a portfolio company of Cuadrilla Capital, received a strategic growth investment from the private credit group of Bain Capital. Bain Capital will join Cuadrilla as an institutional investor in Chartbeat.
The additional capital from Bain Capital will empower Chartbeat’s continued investments in product innovation and pursuit of additional complementary acquisitions.
“Since acquiring Lineup Systems and Tubular Labs last year, we’ve worked to unite all three products into a single platform to maximize both reach and revenue for our clients, the largest media organizations in the world,” John Saroff, CEO of Chartbeat, said. “We are excited to bring these solutions to market as a fully integrated platform to deliver greater value across editorial, analytics, sales and finance. Expanding our partnership to include Bain Capital, a firm with deep software and media expertise, alongside Cuadrilla, provides us with additional resources to fuel our growth and deliver the innovations our clients have come to expect from us.”
“Chartbeat has established a leading, differentiated position in the media operations software space because they consistently and effectively deliver an exceptional user experience to digital publishers,” Brad Charchut, partner, and David Healey, director, at Bain Capital Credit, said. “We look forward to contributing our deep, cross-platform experience and insight in SaaS to accelerate Chartbeat’s growth and innovation. Together with John, Chartbeat’s team, and Cuadrilla, we are aligned with the company’s mission of creating lasting value for media organizations.”
“In the two years since we backed Chartbeat, they’ve completed two acquisitions, created a category-defining solution suite and more than tripled in size, all against the backdrop of a challenging macroeconomic environment,” Jonah Sulak and Vikram Abraham, co-founders and managing partners at Cuadrilla, said. “We are thrilled with Chartbeat’s progress and are equally as excited to welcome Bain Capital as a capital partner to help accelerate Chartbeat’s growth and innovation roadmap.”
Lincoln International served as financial advisor and Alston & Bird served as legal advisor to Chartbeat and Cuadrilla. Proskauer Rose served as legal advisor to Bain Capital.
