CreativeCo moves forward with 10 more investments and 1 exit
CreativeCo, a growth equity studio based in Charlotte, is pleased to announce 10 investments in early-growth stage B2B software companies and a strong exit that demonstrates our thesis. CreativeCo has now invested in 30 companies since we started in March 2020.
Six new companies joined our portfolio in the second half of ’22. During the summer, we invested in Miami-based Aura Salonware, a SaaS operating platform for beauty salons; and Atlanta-based Pointivo, a SaaS solution for autonomous asset inspection in telecom, energy and facilities markets. Then things picked up in Q3-Q4, and we invested in New York-based Dalia, a SaaS solution for high volume automated recruiting; Raleigh-based Allstacks, a SaaS engineering team performance management solution; Atlanta-based Speedscale, a platform for Kubernetes-based software testing; and Charlotte-based CivicEye, a SaaS platform for municipal law enforcement.
We were also pleased to make four follow-on investments since our last update. Charlotte-based DebtBook, a SaaS public finance platform, is now deservedly our largest holding as we added to our position with a $2.2M investment in the company’s series A round led by Elephant VC. In addition, we expanded positions in Pittsburgh-based IRALogix, a platform for IRA providers; Charlotte-based Rabbu, a platform for short term rental investors; and Charleston-based CaseStatus, a SaaS client automation solution for law firms.
This summer, Atlanta-based SingleOps completed a $74M growth equity deal with FTV Capital. Rewind back three years to 2019 when we were just starting CreativeCo and we met Sean McCormick and his team doing about $1M ARR. SingleOps was the exact target for our early growth equity thesis — potential to lead a SaaS vertical, >100% growth, capital efficiency, and a team with solid growth experience. It was appropriate that SingleOps was our very first CreativeCo investment (we wrote about it then). Sean and the team executed their subscriptions & payments growth plan adeptly from our first investment in their series A round led by Atlanta Ventures; to our follow-on investment in their series B round led by Five Elms Capital; and then to our exit via their growth equity deal with FTV. We’re very appreciative of this partnership and the outcome that demonstrates our attractive early growth equity risk / return opportunity.
When we have conviction on a business, we’ll invest in a convertible note or SAFE. Since our last update, we had some nice “conversions” that we can share. Camp Hill PA-based ReturnLogic, a SaaS returns management platform for e-commerce merchants, completed an $8.5M series A round with Mercury Fund in Austin. In addition, Atlanta-based Coginiti, a collaborative SQL tool for enterprise data teams, completed a seed round with our friends Circadian Ventures leading the deal (great things ahead for Rick Hall and team at Coginiti).
The other big news is that Ashley Gautreaux is now a CreativeCo Partner. Ashley joined our team when CreativeCo was just a slide deck back in the beginning of 2019. We love the progress we’ve made together and collectively recognize that we’re still just getting started. It’s so clear that she’s a partner in this journey with us!
As always, we truly appreciate all our collaboration with friendly firms that share our investment style. Please do reach out to us: christian@creative.co / artem@creative.co / ashley@creative.co / travis@creative.co
CreativeCo portfolio companies
- Aiwyn — SaaS for work-to-cash professional services cycle
- Allstacks — SaaS for engineering team performance
- Apty — SaaS for digital adoption management
- Aura Salonware — SaaS and payments for beauty salons
- Case Status — SaaS for legal client automation
- CivicEye — SaaS for municipal law enforcement
- Coginiti — Collaborative SQL editor for enterprises
- Cue Intelligence — SaaS for call center productivity
- Dalia — SaaS for high volume recruiting automation
- DebtBook — SaaS for debt and lease management
- DriverReach — SaaS for driver recruitment and compliance
- Fullcast — SaaS for sales operations planning
- IRALogix — SaaS for IRA investment firms
- Krista — SaaS for intelligent automation
- Leasecake — SaaS for location lease management
- Medxoom — SaaS for third party insurance administrators
- NVISIONx — enterprise data inventory and security platform
- OneRail — SaaS for same day delivery or pickup
- Pointivo — SaaS for autonomous asset inspection
- POS Nation — SaaS POS and payment processing
- Rabbu — platform for single family property investors
- Rent Ready — multi-family apartment turn management
- ReturnLogic — SaaS for e-commerce returns
- SingleOps — SaaS for landscaping businesses
- Social Studies — influencer marketing
- Speedscale — SaaS for Kubernetes software testing
- Spotio — SaaS for field sales teams
- Subsalt — synthetic data platform
- Tracks N Teeth — aftermarket construction equipment parts
- Ziflow — SaaS for collaborative content review and approval
