Demonstrates Union Square Advisors’ continued momentum in providing strategic M&A advice to disruptive software companies
On June 28, 2017, Progress Software announced it has acquired Kinvey, a privately-held company based in Boston and leader in Backend as a Service (BaaS) technology. This acquisition is a key part of the Progress strategy to provide the best platform to build and deliver modern cognitive-first applications.
Kinvey is used by organizations across industries to build and deploy modern applications including, Schneider Electric, VMware, Bell and Howell, and Thomas Jefferson University and Jefferson Health. From mission-critical consumer and business experiences for global insurance, manufacturing and media companies, to HIPAA-compliant and life-critical apps for healthcare, health implant manufacturers and pharma, Kinvey powers more than 31,000 apps, used by more than 100 million end-users.
“At Kinvey, we pride ourselves on providing an unparalleled developer and operational experience for building and deploying modern applications, while staying ahead of the feature curve to support our customers as they think of innovations for their digital business,” said Sravish Sridhar, Founder & CEO, Kinvey. “Cognitive-first is the future of new application experiences, and we are thrilled to join Progress as a core component of their leading product portfolio for delivering on this future for our customers.”
Kinvey is the pioneering enterprise mobility platform company, providing mobile Backend as a Service (mBaaS) for the digital enterprise that helps global enterprises, agencies, and developers launch successful and engaging apps and entire digital businesses, fast. Kinvey’s patented platform provides comprehensive support for native, hybrid, and mobile Web applications and out of the box enterprise capabilities including identity management, rapid integration with enterprise data sources, a data store and file store for new mobile data, ability to run customized business logic, and a rich set of mobile engagement services. Kinvey is available on multiple cloud platforms, and is offered via multi-tenant and dedicated cloud deployment models, including a HIPAA Compliant edition for life sciences and healthcare requirements. Enterprises such as Farmers Insurance and VMware and healthcare providers such as Thomas Jefferson University Hospitals leverage Kinvey as a part of their digital strategies. For more info, visit www.kinvey.com.
About Progress Software
Progress offers the leading platform for developing and deploying mission-critical business applications. Progress empowers enterprises and ISVs to build and deliver cognitive-first applications, that harness big data to derive business insights and competitive advantage. Progress offers leading technologies for easily building powerful user interfaces across any type of device, a reliable, scalable and secure backend platform to deploy modern applications, leading data connectivity to all sources, and award-winning predictive analytics that brings the power of machine learning to any organization. Over 1,700 independent software vendors, 80,000 enterprise customers, and 2 million developers rely on Progress to power their applications. For more info, visit www.progress.com.
About Union Square Advisors
Union Square Advisors is a leading technology-focused investment bank that offers strategic mergers & acquisitions advice and execution as well as agented private capital financing services. Founded in 2007, with offices in San Francisco and New York, Union Square Advisors works with leading public and private technology companies, private equity and venture capital firms across the technology landscape with a primary focus on Software, Software-Enabled Services, IT Infrastructure and Internet/Digital Media/Marketing Technology. Since inception, Union Square Advisors has advised on over 80 transactions, valued in excess of $90 billion. For more information, please visit www.usadvisors.com.