Nexus Systems Raises Growth Capital from Mainsail Partners

Transaction Press Release

Growth Award Announcement


Nexus Systems Profile

  • Nexus Systems is a leading provider of integrated procure-to-pay (P2P) software for medium and large enterprises.
  • Nexus Systems’ flagship product, NexusPayables, is a comprehensive SaaS software solution that automates and manages the entire accounts payable (AP) process from purchase to payment.
  • The solution provides the operational efficiency, visibility and control required to improve cash management, and lower processing cost for companies handling high invoice volumes.
  • The company is headquartered in Falls Church, Virginia and employs about 100 professionals.

Mainsail Profile

  • Mainsail Partners is a private equity firm specializing in middle market, late venture, management buyouts, recapitalizations, growth equity, and growth capital investments.
  • The firm is headquartered in San Francisco, CA and focused on funding growth for “bootstrapped” technology companies.

Transaction Notes

  • Nexus Systems was founded in 2000 by Tom Coolidge and Jennifer Coolidge.
  • Like many entrepreneurs, they recognized a market opportunity and bootstrapped the growth for over a decade.
  • In 2015, the management began to explore opportunities to accelerate its growth.
  • Seabrook Partners positioned Nexus Systems around the sophistication of its technology platform, its SaaS-based revenue model and leadership position in the large and growing P2P market.
  • Seabrook Partners marketed Nexus Systems to middle market growth equity firms that have demonstrated continued success in the enterprise/SaaS software sector. The process was highly competitive with numerous firms submitting term sheets.
  • Nexus Systems secured $28 million in growth equity from Mainsail Partners to accelerate product development, enhance sales and marketing and grow its onboarding and client professional services.
  • In May 2017, the transaction was recognized as the “Deal of the Year” by the ACG National Capital Region chapter.