The Carlyle Group, a global alternative asset manager, has taken a minority investment stake in DiscoverOrg. 22C also participated in the round. TA Associates maintains a “significant equity stake” in the sales and marketing intelligence company with TA Associates and executive management retaining majority control.
“The DiscoverOrg team has built the industry-leading intelligence platform for sales and marketing teams across the globe. Consistent revenue generation requires accurate and actionable data, and that is what DiscoverOrg delivers. We are delighted to partner with the management team to accelerate growth and foster innovation.”
- Patrick McCarter, Co-Head of U.S. Buyout Technology, Media & Telecom and Managing Director, The Carlyle Group
Randall Winn, 22C Capital Managing Member and former CEO of Capital IQ, noted, “We are exceptionally pleased to have been involved in DiscoverOrg’s success over the last few years as the team has built a truly unique data platform and developed into a world-class company. We are excited to be in a position to continue to work with DiscoverOrg and invest in [CEO] Henry [Schuck]’s vision.”
Funds will be used to accelerate database growth and the pace of product innovation. The money is non-restricted in its purpose “other than capturing our market opportunity more quickly,” said Chief Growth Officer Katie Bullard.
DiscoverOrg is coming off of another strong year of growth in revenue (ARR above $130 million), database coverage (124% increase in contacts), and employment (50% growth and the acquisition of RainKing). The firm has grown to 470 employees with 35 job postings on their website. According to Bullard, the firm is on pace to hit $160 million in revenue this year.
While Schuck has previously discussed an IPO, there have been “no specific conversations” concerning going public since, said Bullard.
Terms of the investment and market valuation were not disclosed.