The amount of the investment was not disclosed. An article in Fortune estimated the investment by Austin-based Vista Equity Partners at $400 million.
AlertMedia, which has 200 employees, plans to use the infusion of capital to accelerate its long-term growth strategy, according to a spokeswoman. It also plans to continue to hire employees and to expand into new markets, according to a news release.
AlertMedia has raised $60 million since its founding in 2013, according to Fortune. And its major existing investors including JMI Equity, Next Coast Ventures, Silverton, and Brian Cruver, the founder and CEO will retain a significant ownership stake in the company. In addition, Cruver will remain as CEO and on the company’s board.
AlertMedia provides emergency communications software to more than 2,000 companies in more than 130 countries. Its customers include Walmart, JetBlue, Coca-Cola, Bottling, DHL, and Volvo. AlertMedia’s technology identifies risks to company locations or people and communicates that information instantly. The company says it minimizes response times during emergencies and other business-critical events.
“We help organizations communicate more effectively during emergencies, which has never been more relevant given the volume and severity of crises around the world,” Cruver said in a news release. “Vista shares our belief that every business should ensure its employees are safe, informed, and connected—and that emergency communication software has the power to improve outcomes. We are thrilled to have the experience of the Vista team on our side, providing guidance and support as we continue to build AlertMedia into a best-in-class global enterprise.”
The investment in AlertMedia comes from Vista’s Foundation Fund, which invests in middle-market enterprise software, data, and technology-enabled companies.
“For years, organizations slowly increased focus on employee safety and emergency preparedness. With the COVID-19 pandemic, protecting the health and safety of employees while maintaining the ability to serve customers in a crisis has become an organizational imperative and competitive advantage,” Ryan Atlas, Managing Director at Vista Equity Partners said in a news release. “At Vista, we invest in category-leading companies to help accelerate innovation and maximize growth. We are excited to partner with Brian and the AlertMedia team to help companies protect their people and maintain business continuity.”
The transaction is expected to close in the second quarter of this year.