Today, we’re excited to announce that we’re adding AddShoppers to our portfolio via a minor debt financing. AddShoppers, a Charlotte-based software company, develops marketing automation software to drive growth for leading commerce brands.
We’ve known Jon West, co-founder/CEO, and the AddShoppers team from our days at Bronto Software. In fact, they were one of the first partners in the Bronto AppCenter. Our expertise in the eCommerce space and familiarity with their software means we can be a valued partner as they continue on their growth path.
Today, we’re excited to announce our investment of $2.8m into Corevist, a Raleigh-based software company that develops and sells a B2B e-commerce platform to manufacturers worldwide.
Corevist was founded in 2008. Through the years, Corevist has won numerous awards including an NC IDEA grant and being listed as an Inc. 5000 company four times.
We invested in Corevist because we are impressed with Sam Bayer, the founder/CEO, and his leadership team and their track record in growing bootstrapped, consistently and profitably, over many years. We are also excited because of the potential of B2B e-commerce and the ability to leverage our expertise with Corevist in this space. Our focus at Jurassic is to invest in regional B2B software companies in order to help scale them to the next level. Corevist fits the bill perfectly.
This investment is also our first investment as part of Jurassic. As an added bonus, we got the “band back together” with Chaz Felix, Bronto’s co-founder and long-time COO, to join me and Joe as an investor.
Last month, Kevin Mosley and I launched Jurassic Capital to provide another investment and exit option for the region’s B2B software entrepreneurs.
Our thesis is simple. It is hard to get a software business off the ground and even harder to get it to a few million dollars in revenue. But usually, it takes another set of skills to scale it to tens of millions in revenue. That’s a different fish and that’s where we come in.