We are proud to have partnered with Tom, Jennifer and the rest of the Nexus management team as they scaled the company and unlocked tremendous value for property managers looking to automate their accounts payable process
AUSTIN, Texas (PRWEB)
September 13, 2022
Mainsail Partners, a growth equity firm that invests in bootstrapped software companies, announced the sale of Nexus Systems, a leading provider of accounts payable (AP) and payments automation software for the real estate and property management industries, to Bottomline Technologies.
“This combination represents another milestone in the Nexus growth journey,” said Tom Coolidge, co-founder and CEO of Nexus Systems. “We are excited to join the team at Bottomline to bring our shared vision of automation to the entire real estate and property management AP process.”
“The partnership with Mainsail was a catalyst in getting us to this point, including their support building our management team, collaborating on the right strategy for the company, and the hands-on help they provided in building out an industry leading procure-to-pay platform,” added Jennifer Coolidge, co-founder and President. “I believe they were the ideal partner at our stage of growth and were instrumental in charting the path we are on today.”
The Nexus procure-to-pay (P2P) solution takes a 360-degree view of customer and supplier needs, addressing pain points in the accounts payable process unique to real estate and property management. Nexus’ capabilities, customers and suppliers will join Bottomline’s Paymode-X B2B payments network, which processes over $300 billion in payments annually on behalf of 500,000+ businesses. Paymode-X also has been named a “Market Leader” in the Ardent Partners annual ePayables Technology Advisor report.
“We are proud to have partnered with Tom, Jennifer and the rest of the Nexus management team as they scaled the company and unlocked tremendous value for property managers looking to automate their accounts payable process,” said Gavin Turner, co-founder and Managing Partner at Mainsail Partners. “We wish the team the best and are excited to see what they can accomplish as part of the Bottomline family.”
One of the pivotal initiatives during Mainsail’s partnership with Nexus was the launch of the company’s digital payments solution and enhanced supplier platform to facilitate electronic payments between suppliers or service providers and property managers. Nexus and Mainsail also partnered to build out the executive team, strike new partnerships, enhance operations and customer experience, and optimize the company’s go-to-market strategy with the goal of reaching more property managers in search of innovative solutions.
Raymond James served as an advisor to Nexus Systems. Terms of the transaction were not announced.
About Nexus Systems
Nexus provides the fastest way for real estate companies to ditch paper checks and send secure payments to their suppliers. With its roots in AP automation, the 21-year-old software company has built a large, validated community of suppliers serving multifamily, CRE and other real estate segments. Using just clicks, real estate companies can connect to their suppliers and send them payment.
About Mainsail Partners
Mainsail Partners is a growth equity firm with offices in Austin and San Francisco that seeks to invest in rapidly growing, bootstrapped software companies. The firm has raised over $2.2 billion and invested in more than 60 bootstrapped companies since 2003. Mainsail has extensive experience investing in B2B software companies that the firm believes have the potential to be category leaders. Mainsail’s approach to driving value creation is anchored in a dedicated Operations Team that is purpose-built to help founders scale their businesses and accelerate growth. These women and men include former software company operators who leverage real-world experience, well-established best practices, and a true partnership ethos to support management teams. For more information, visit mainsailpartners.com or follow the firm on LinkedIn.
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