“Membership Management” and Back-Office Software Provider for Golf, Other Private Clubs Now Set to Accelerate Growth With Strategic Acquisitions
(Cincinnati, OH) – Battery Ventures, a global investment firm, has made a significant growth-equity investment in Clubessential LLC, a fast-growing provider of Web-based software for golf, city, yacht and other private clubs. Clubessential intends to use the new capital to accelerate growth by investing in product innovation, sales and marketing, and acquisitions. Specific terms of the deal were not disclosed.
Clubessential, which is based in Cincinnati, sells front- and back-end “software-as-a-service” (SaaS) applications to private clubs to help them manage various aspects of their operations. The company’s main product is a suite of modules designed to automate various club operations; inform and engage members; and leverage operational and customer data.
The product—called the “Clubessential Unified Suite”—is a turnkey solution that allows club members to log into club websites, check their accounts, make reservations or update their profiles. The back-end suite includes a full accounting system to support club operations, including retail and food-and-beverage, point-of-sale solutions. The company also offers customer-relationship management, mobile-app and online-payment products. Overall, the technology allows clubs to deliver higher levels of service to members, partly by leveraging cutting-edge analytics.
Clubessential was founded in 1998 and has about 175 employees in Cincinnati as well as Austin, TX; Raleigh, NC; Kansas City; and Boston.
Battery has invested in many industry-specific, Web-software companies like Clubessential, a category of companies which generally offer customers highly specialized products as well as high-quality support and services, said Morad Elhafed, a Battery Ventures partner who will join Clubessential’s board.
“Clubessential’s growth rate is impressive, and the company has built an extremely strong business providing software to the private-club market,” Elhafed added. “The sector is large but fragmented, and we believe Clubessential can serve as a solid platform for consolidation and growth in the industry. We are thrilled to be the first institutional investor in the company.”
“Several years ago, we realized we would need external equity financing to support our growing operations, launch new products and enter new markets,” said Dr. William Ivers, Clubessential’s CEO. “We had been speaking with Battery since 2013 - they were our favorite partner choice because of their history in SaaS investing, their knowledge of our target markets and their skill in accelerating growth and acquisitions. In 2015 our growth jumped with the introduction of the Unified Suite and our entry into the resort market – we knew it was time to add a strong financial partner.”
Your discussion is quite close to me because I also understand the meaning of software development. By the way, when I created my own team, I needed to know more about various services. In addition, this dashboard development company has helped me to get service of web and mobile application. It is important to know for what purpose you want to find or hire a specialist to work on your project, because the most fundamental factor is knowledge.
ReplyDeleteYou know, I need to find such information and I need to have a company with web development. It’s necessary for creating my own website better. I hope someone will help me
ReplyDeleteThere are many companies that develop websites. You can find all the information on the internet. It is also advisable to find out all the information about it before contacting the company. My friend has his own online store, and he uses the services of a website development company that he found on this link https://www.shtudio.com.au/services/web-development/. You can see this information, suddenly this is exactly what you are looking for.
ReplyDeleteIt is good to have a proven company that can develop software for you. I will need help in this area soon and I want to find development specialists who will make me quality software.
ReplyDeleteThe main thing is that you should be confident in the reliability of the company to which you apply. Not all companies can provide quality services. However, I was recently recommended to read about how to build a slack clone. They say you can learn some pretty useful information for those who need software.
ReplyDeleteGreat Read! Understanding the nuances of club management software can be a game-changer for facilities. It's intriguing how such software can streamline operations. For further insights into effective project management within this domain, check out this comprehensive guide about The Guide to Project Manager Roles in Project Development. It really emphasizes the PM's pivotal role in tech integration!
ReplyDelete