RuffaloCODY, the leading provider of technology-enabled fundraising and enrollment management services for higher education and high affinity-based nonprofit organizations, announced today that Summit Partners, a growth equity investor in rapidly growing companies, has made an investment in the company. Lazard Middle Market advised RuffaloCODY on this transaction.
“This commitment by Summit Partners will assist RuffaloCODY with plans to significantly expand our national and international presence and extend service offerings in both existing and new markets,” said Duane Jasper, RuffaloCODY President and CEO. “Summit’s experience working with high-growth organizations like RuffaloCODY will help accelerate our cutting-edge development and innovation.”
Added Al Ruffalo, RuffaloCODY Founder and Executive Chairman, “Our four-year partnership with exiting equity investors North Bridge Growth Equity and Westview Capital Partners was very successful, and provided a strong foundation for future growth. They helped double our business and solidify our market presence, and we are grateful for the support and confidence they placed in our firm.”
RuffaloCODY has delivered outstanding results and continued growth, providing nonprofit clients with data-driven services and initiatives unique to the marketplace. The company has been recognized by Inc. Magazine as one of America’s fastest-growing private companies for more than seven consecutive years, and it has also received recognition for job creation.
“We are investing in a strong management team, a compelling business model, and a market-leading company,” said Len Ferrington, a Principal with Summit Partners who will be joining the RuffaloCODY Board, along with Summit Managing Director C.J. Fitzgerald. “We look forward to assisting Duane Jasper, Al Ruffalo and the RuffaloCODY team as they continue to grow the company.”
In addition, the company recently announced plans to move into a new 88,000-square-foot-facility near the Kirkwood Community College campus early next year. The new facility will house all Cedar Rapids operations and provide space for the anticipated growth from 500 to 800 full-time staff over the next few years. RuffaloCODY plans to hire in the areas of software development, project management, data management and graphic design, as well as various client and corporate support positions.
Founded in 1991 and headquartered in Cedar Rapids, IA, RuffaloCODY employs more than 500 full-time staff throughout the United States, Canada and Australia. The company is the leading provider of technology-enabled fundraising and enrollment management services for higher education and high affinity-based nonprofit organizations. Today, RuffaloCODY serves more than 900 nonprofit organizations and institutions of higher education.
About Summit Partners
Summit Partners is a growth equity firm that invests in rapidly growing companies. Founded in 1984, Summit has raised nearly $15 billion in capital and provides equity and credit for growth, recapitalizations and management buyouts. Summit has invested in more than 365 companies globally in technology, healthcare and other growth industries. These companies have completed 130 public offerings, and more than 135 have been acquired through strategic mergers and sales. Summit Partners has offices in Boston, Menlo Park, London and Mumbai. Notable companies financed by Summit Partners include AlphaSmart, Heald College, Hyperion Solutions, McAfee Associates, RightNow Technologies, Trident University International, Unica, WebEx Communications and Wildfire Interactive.
In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners Limited, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners Limited is a limited company registered in England and Wales with company number 4141197, and its registered office is at 20–22 Bedford Row, London, WC1R 4JS, UK. This document is intended solely to provide information regarding Summit Partners’ potential financing capabilities for prospective portfolio companies.