Advised Chatmeter, a leader in local search marketing and reputation management for multi-location businesses, on a strategic investment by funds advised by Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, a premier asset management firm. Terms of the deal were not disclosed.
Chatmeter helps enterprise retail brands and agencies managing multiple locations increase their revenue. Since being the first Local Brand Management platform in 2009, they now analyze and improve over 1,900,000 storefronts for their reviews, rankings, and listings. They help retailers make a distinct impact on revenue by identifying several areas in their online presence that drives customers to choose their stores over competitors. Chatmeter clients include Sears Home Services, Caliber Collision, Sherwin-Williams, OneMain Financial, Save-A-Lot, Pinnacle Health System, and Dickey's BBQ.
“As a first-time founder, selecting the right adviser that could guide us was essential. Working with such an experienced team at Capstone Headwaters was key to our success. Not only did they open many doors for us, they prepared us properly for all the hard work, and kept us focused despite several challenges along the way. Everyone at Capstone Headwaters was professional, knowledgeable, and worked tirelessly to get us across the goal line,” remarked Collin Holmes, Founder & CEO of Chatmeter. “We believe PSG’s strategic investment will enable Chatmeter to accelerate the necessary growth of our technology, team and services to support multi-location brands,” added Mr. Holmes. “PSG’s deep industry experience and proven track record of helping scale SaaS-based companies make them the ideal partner for Chatmeter as we enter our next phase of growth.”
“Collin and his senior management team have done a remarkable job generating impressive revenue growth at Chatmeter while operating the business in a very capital efficient manner,” said David Michaels, Managing Director and Head of TMT at Capstone Headwaters. “The opportunity to work with the Chatmeter team to help them generate several attractive options and ultimately choose the best partner was very rewarding. The strategic investment from PSG is an ideal outcome for Chatmeter and its stakeholders and positions the company to continue its growth trajectory and extend its leadership position in the local brand management software market.”
“Chatmeter empowers brands with the ability to orchestrate and manage location-specific data and derive insights from customer feedback in a manner that makes a tangible impact on brand visibility, reputation and discovery at a hyper-local level. We have been particularly impressed with the customer value proposition around Chatmeter’s social listening and sentiment analysis capabilities,” said Gopi Vaddi, Managing Director at PSG. “We look forward to partnering with Collin and the entire Chatmeter team to build on the company’s success, support the robust product pipeline designed to capitalize on the hugely unmet need in multi-location marketing, and fuel both organic and inorganic growth opportunities.”
