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FastSpring

The Deal

Bought By
Chris Lueck and Tom Tzakis
Year
2013
Vehicle
Pylon Capital, Chris Lueck's first search fund, backed by Search Fund Partners, Pacific Lake Partners, ETA Equity, The Cambria Group, Red Forest Capital and Endurance Search Partners
Kind
Software

A Santa Barbara digital-commerce and payments platform for software sellers.

What Happened Next

Grown from $8M to over $30M of recurring revenue, then a majority sold to Accel-KKR in February 2018.

They sold a majority 5 years in, in 2018, and stayed with the company.

Bought at exit by Accel-KKR, whose page carries that firm's own announcement of it.

Backed by the Same Firms

Endurance Search Partners

Search Fund Partners

Pacific Lake Partners

ETA Equity

The Cambria Group

Red Forest Capital

Method & Source

This record is double-sourced: it joined when the purchase and, where the company has traded on, the exit could both be read in primary accounts.

These sources name who runs the business and when the firm invested, rather than saying in a sentence that the searchers bought it. The pairing rests on the row's other sources: a person named beside the company elsewhere. The index host's card, lists the company against its own 2013 investment and its own 2018 exit and names nobody. The index host's company page, names Chris Lueck co-chief executive and marks the company exited beside its own 2013 investment. Its roster files the search as partner with a launch year of 2011. Nothing on it says who bought the company.