Doxim Inc., a Markham, Ontario based provider of customer engagement and content management SaaS solutions for financial services organizations, has completed a recapitalization with GI Partners acquiring a majority stake in the company from Strattam Capital, LLC. Financial terms were not disclosed.
Doxim’s existing management team will maintain a significant ownership in the company.
In October 2014, Strattam Capital, in partnership with Doxim’s management team led by founder and CEO Chris Rasmussen, acquired a majority stake in the company.
Founded in 2000, Doxim helps over 1,700 clients in the financial services industry digitize the consumer experience to create better connections at every touch-point and dramatically improve service at a fraction of current operating costs. Doxim’s offering includes its enterprise content management platform and statements solutions, which comprise digital composition, delivery, and archiving, as well as print services. The Doxim Customer Engagement Platform enables omni-channel customer experience that improves long-term loyalty and drives wallet share.
Chris Rasmussen, CEO of Doxim, said “We are excited to welcome GI as a partner for this new chapter and thank the Strattam team for helping us build the foundation for our next phase of growth. We have become the technology provider of choice for financial institutions across North America with relentless passion for delivering quality, innovation, and superior customer service. GI’s experienced team and commitment to the growth of our business strengthen the promise we have made and direction we have outlined to our valued clients, partners, and employees.”
“It has been wonderful to see Doxim’s progress since our initial investment,” said Bob Morse, Managing Partner and co-Founder of Strattam. “When we first met Chris, we were impressed by his goals for the company, and we knew that we had the people and tools to make those goals reality. We agreed to a 5-Point Plan before we signed the deal to make a meaningful difference in the company’s growth curve by augmenting its process, team and market reach. What the company has achieved is outstanding, even by the ambitious goals we had at the outset. Chris and the team have done a fantastic job in positioning the company for future growth.”
Travis Pearson, Managing Director at GI Partners said, “Doxim’s leadership in customer engagement solutions, its sizable market opportunity, and the company’s intense focus on its clients’ success all combine to create a unique opportunity. We are excited and proud to partner with Chris and the Doxim leadership team to help them continue their emphasis on innovation and growth.”
Doxim represents the second portfolio investment in GI Partners Fund V, a $2.8 billion fund raised in 2017. Shea & Company acted as exclusive financial advisor and Wilson Sonsini Goodrich & Rosati acted as legal advisor to Strattam. Kirkland & Ellis acted as legal advisor to GI Partners. Additional terms of the transaction were not disclosed.
photo credit: Doxim