Cross Atlantic Capital Partners Invests in Rootstock Software®
RADNOR, Pa, June 1, 2011 – Cross Atlantic Capital Partners today announced its investment in Rootstock Software, the market-leading Software as a Service (SaaS) provider of manufacturing enterprise software, serving discrete manufacturers in the mid-market. Terms of the deal were not disclosed.
Rootstock Software was launched in 2008 in response to the growing need for a SaaS solution for mid-market manufacturers to cut costs, improve processes, and increase revenue for its users. Rootstock, in conjunction with its partners, delivers these critical manufacturing capabilities to an underserved market with minimal IT infrastructure investment.
“Led by Founder and CEO Pat Garrehy, we were drawn to Rootstock because of the strength of the management team, who have demonstrated deep expertise and prowess within the manufacturing software systems industry,” said Don Caldwell, Founder and CEO of Cross Atlantic. “We believe the combination of Rootstock’s management team, proprietary SaaS infrastructure and their business partnerships gives them a tremendous advantage over the competition. We are very excited about this investment,” he added.
About Rootstock Software
Rootstock Software was launched in 2008 in response to the growing need for a SaaS solution for mid-market manufacturers to cut costs, improve processes, and drive revenues. Rootstock partners with industry leaders to deliver these critical manufacturing capabilities to the underserved mid-market with minimal IT infrastructure investment. For more information about Rootstock, please visit rootstock.com.
About Cross Atlantic Capital Partners
Based in Radnor, Pa., Cross Atlantic Capital Partners (“XACP”) is one of the leading venture capital firms based in the mid-Atlantic region, with over $500 million under management. XACP invests primarily in early- to mid-stage technology companies in the United States. Leveraging its deep, multi-disciplined network of global contacts, and the operational experience of its investment team, the firm actively assists its entrepreneurs and portfolio companies. The XACP portfolio currently includes a diverse array of companies focusing on Enterprise Software, SaaS, IT Services, Telecommunications, Financial Services, and other innovative technologies.