Follow the Money: DoctorLogic Raises $7M; Geoforce, TPG Growth Make Acquisitions

In this weekly roundup of funding, merger, and acquisition activity in North Texas, you’ll also find news from Match Group, On the Road Lending, Oakview Capital, Sales Benchmark Index, TPG Capital, Mark Cuban, P10 Holdings, Cloudvisory, Metro Energy Savers, and Trudela Partners.

funding

What companies are finding funding or having a big exit? From startup investments to grants and acquisitions, Dallas Innovates tracks what’s happening in North Texas money every Thursday. Sign up for our e-newsletter to stay in the loop.

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DoctorLogic raises a $7M series A funding round

DoctorLogic, a Plano-based healthcare website marketing platform, announced a $7 million series A funding round led by Unbundled Capital, an Austin-based private equity firm.

Kip Young, president of DoctorLogic, said in a statement that the series A investment will be used to scale its “people and systems” to continue developing the company in the healthcare digital marketing category. Unbundled’s founder Peter Freeland will join the DoctorLogic board of directors.

Founded in 2003 by Stuart Lloyd and Ray Myers, DoctorLogic works with more than 330 medical practices in the field of aesthetics, dentistry, surgery, and general medical. Its software includes a proprietary “Content Creation Engine” showcasing its customers’ online presence, helping them acquire new patients and measure their marketing efforts.

The full solution covers a range of marketing services including SEO, social media, pay-per-click advertising, content, managed chat, and video production. According to DoctorLogic, its software has helped its customers acquire more than 100 million new website visitors.

Match Group invests in connected safety platform Noonlight

Dallas-based Match Group has invested in and partnered with connected safety platform Noonlight for the rollout of a series of new safety features for its suite of dating apps.

Match Group is the parent company of Match, Tinder, OkCupid, Plenty of Fish, and others. No financial details of the investment were released.

The safety features will roll out starting on Jan. 28 with Tinder, according to a statement. Among the tools included are emergency assistance, location tracking, photo verification, and an in-app Safety Center.

On the Road Lending gets up to $10M through Goldman Sachs loan

On The Road Lending, a Dallas-based financial nonprofit, announced this week that it’s receiving a loan of up to $10 million from the Goldman Sachs Urban Investment Group.

The funds are expected to be used to expand an initiative geared toward underserved communities across the southeastern U.S.

“Ultimately On the Road Lending fuels economic mobility and long-term success by providing the engine that drives people’s dreams,” Michelle Corson, On the Road Lending’s founder and CEO, said in a statement. “We’re grateful to have Goldman Sachs recognize through its investment that a car loan through On the Road Lending is life-changing because owning a reliable car increases job opportunities by removing transportation barriers. It also improves quality of life through better access to health care, education, and even healthier food choices.”

Founded in 2013, the nonprofit works with clients to improve their credit, avoid predatory lenders, and purchase fuel-efficient, reliable cars with low-interest loans through its impact investment loan fund, a U.S. Department of the Treasury certified Community Development Financial Institution.

Oakview Capital raises over $33M in pooled investment fund

Oakview Capital Management, a Dallas investment firm, reported in a filing with the Securities and Exchange Commission that it has raised $33.975 million in a pooled investment fund.

Launched in 2010 by Patrick Malone and Corey Henegar, Oakview Capital says it employs a “fundamental value, private equity approach to actively investing in the public equity markets and removing the rigid investment mandates associated with traditional portfolios.”

Sales Benchmark Index gets strategic investment

Dallas-based management consulting firm Sales Benchmark Index has received a strategic investment from CIP Capital, which will be used to accelerate growth and to invest in its people, specialty practice areas, client service capabilities, and benchmarking solutions, according to FinSMEs.

The amount of the investment wasn’t released. Sales Benchmark Index is exclusively focused on revenue growth.

SBI’s management team will continue to lead the firm during the next phase of growth and will retain a significant ownership stake alongside CIP Capital after the investment, according to FinSMEs.

SBI expects to double its headcount over the next 12-18 months as part of its growth plan and will also selectively pursue acquisitions to help expand its practice areas within the commercial functions of revenue growth.

TPG Capital invests in Kelsey-Seybold Clinic in Houston

TPG Capital, which is headquartered in Fort Worth and San Francisco, has invested in Houston’s Kelsey-Seybold Clinic, the first Accredited Accountable Care Organization in the nation recognized by the National Committee for Quality Assurance, according to a statement.

It’s a non-controlling, strategic investment in Kelsey-Seybold Management Services, which is the management services organization that serves the Kelsey-Seybold Medical Group, according to the Fort Worth Business Press.

TPG Capital is the private equity platform of TPG, a global alternative asset firm.

Cuban invests in Boston business software provider

Dallas billionaire investor and Dallas Mavericks owner Mark Cuban is one of 10 investors in a $35 million series E funding round by Catalant, a Boston-based software company that provides global enterprises with software solutions to access business expertise on demand.

The round was led by Goldfinch Partners, Australian investment firm, according to Crunchbase.

The company works with roughly 30 percent of the Fortune 100 to help them get from strategy to execution more quickly. Its software assets businesses to accelerate mission-critical work with more than 65,000 experts and 1,000 firms.

MERGERS & ACQUISITIONS

RealPage to acquire resident engagement solution Modern Message

RealPage, the Richardson-headquartered global provider of software and data analytics to the real estate industry, is going to acquire Modern Message, Inc. No terms of the deal were released.

Modern Message is a resident engagement solution used in the multifamily sector. Its Community Rewards engagement platform builds engagement through a mobile user interface that the company says is motivating, rewarding, fun, and interactive for property residents.

The Modern Message platform rounds out the RealPage ActiveBuilding resident portal platform, which allows for payments, resident communication, and the monetization of rentals and amenities, according to a statement.

“Modern Message provides a unique boost to our already powerful resident engagement platform,” Jon Pastor, senior vice president of consumer solutions at RealPage, said in a statement. “The two solutions joined together enable our clients to give residents a rich rewards experience, boost ancillary revenue, resident loyalty and reputation scores, and see greater adoption of their RealPage solutions. In short, we will be able to offer clients and residents the full potential of a resident portal.”

Geoforce acquires Canadian company Trakopolis

Dallas-based Geoforce has acquired Trakopolis, a Canadian provider of global traceability solutions and advanced analytics.

The acquisition comes a little more than a month after Geoforce, a provider of global traceability and Track and Trace solutions for field equipment and vehicles, received a majority investment from LLR Partners, making it a portfolio company of the private equity firm.

No financial details of the deal were released.

Geoforce’s cloud-based software platform delivers a unified view of multiples types of assets from non-powered equipment to powered equipment and vehicles via satellite and cellular-based devices.

Trakopolis provides insights into core business operations such as equipment utilization, fleet management, maintenance reporting, and worker safety, according to a statement. 

TPG Growth to buy Arkansas-based Denali Water Solutions

TPG Growth, the middle market and growth equity platform of alternative asset firm TPG, has agreed to buy Arkansas-based Denali Water Solutions, a provider of specialty waste and environmental recycling and disposal services in the U.S.

The purchase is being made through Denali’s management and The Firmament Group. No financial details were released on the deal, which is expected to close in early February.

Denali performs daily organic waste collection, processing, recycling, and disposal for municipal, industrial food processing, and downstream industrial customers.

TPG has dual headquarters in Fort Worth and San Francisco.

Dallas investment firm buys North Carolina private equity firm

Dallas-based alternative asset management investment firm P10 Holdings has agreed to buy a North Carolina-based private equity firm called Five Points Capital Inc.

P10 Holdings is a lightly publicly traded company on the Over-the-Counter Bulletin Board exchange that owns and manages RCP Advisors 2 LLC and RCP Advisors 3 LLC, according to the Winston-Salem Journal.

No financial details were released on the deal, which is expected to close by June 30.

California company buys Dallas-based Cloudvisory

Cloudvisory, a provider of continuous visibility, compliance, and security policy governance solutions for multi-cloud and data center assets, has been acquired by California-based FireEye Inc.

No financial details of the acquisition were released.

Cloudvisory offers a complete centralized security management solution for audit, compliance, micro-segmentation, and enforcement via cloud-native controls on various cloud platforms.

It was founded in 2018 and was led by co-founder and CEO List Kung prior to the acquisition, according to a statement.

Metro Energy Savers is acquired by Fort Worth’s Coltala Holdings

From left: Ralph Manning, CEO of Coltala; Paul Adams, CEO of Trudela; and Edward Crawford, President of Coltala.

Arlington-based Metro Energy Savers, a 35-year-old HVAC firm, has been acquired by Fort Worth-headquartered Coltala Holdings via its HVAC/Home Services acquisition platform Trudela Partners.

No financial information on the deal was released. This is Trudela’s second acquisition of the new year.

Metro Energy Savers serves communities in 28 locations in DFW, according to a statement. It will continue to provide service to its current customer base, while at the same time expanding its geographic footprint in the region. With the acquisition, service coverage is extended to the north, west, and southwest areas of DFW. Organic expansion is expected from the two divisions, further boosted by more acquisitions.

Coltala President Edward Crawford said his company’s culture of mission and margin runs through the Trudela team into every HVAC company Coltala buys and operates.

“People matter,” Coltala CEO Ralph Manning said in a statement. “When you take care of the employees who take care of your customers, profits follow. These businesses know this and we will continue to support this ethos.”

David Kirkpatrick contributed to this report.

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