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Discovery Data

Discovery provides proprietary data regarding registered investment advisers, brokers, broker dealers, and insurance agents to mutual fund companies, insurance companies, and other providers of investment products.
Investment snapshot Industry: Software
Year Invested: 2016
Year Exited: 2018
Outcome: Sold to Northlane Capital Partners
Status: Exiteds
Sagemount team Blair Greenberg Curt Witte Cameron Eskandari
Company info www.discoveryco.com
New York, NY

Company case study

The acquisitions and integrations of Discovery Data, Meridian IQ, and FMG, created a leading provider of data on investment advisors and insurance agents.

Investment Structure / Thesis

  • Based on a thesis in sales intelligence, Sagemount built proprietary relationships with both management teams and ownership groups, and in 2016 combined Discovery and Meridian IQ while taking a majority equity stake to create the niche market leader
  • Merger of the top two players in the space immediately created a clear market leader with recurring revenue, strong cash flow, and steady ACV growth
  • Subsequent acquisition of FMG added new data sets, widening the moat and enhancing the product offering
  • Drove growth by utilizing account-based marketing and B2B data consumption focused on helping sales teams be more efficient with customer prospects and leads

Value Creation by Sagemount

  • Architected initial combination of Discovery Data and Meridian IQ
  • Sourced and closed the acquisition of FMG, bolstering market position and ACV growth
  • Interviewed and brought in an operational CFO who improved financial reporting and controls
  • Built the end market’s first “Datalink” – a real-time API synchronization between the Salesforce CRM and the Company’s sales intelligence database
  • Increased enterprise 2.3x in just over two years through a strong acceleration in product and the go to market infrastructure

Discovery Data Investment Growth Chart

Company news
  • NCP Invests in Discovery Data
    • Discovery Data,  
    • Company News
    Aug 9, 2018
  • Discovery Data Acquires Financial Media Group
    • Discovery Data,  
    • Company News
    Jun 8, 2018
  • Bregal Sagemount Acquires Majority Stake in Discovery Data, Inc.
    • Discovery Data,  
    • Company News
    May 25, 2016
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    • *All Equity Deals LTM Nov 22, except Scorpion (LTM Dec 2022) and Enhesa (2022YE Revenue). Debt Deals are LTM between Sep-NOV 2022, PF for recent transactions.

Case studies included on this website are illustrative and represent portfolio companies, current or past, where Sagemount has worked with portfolio companies on value enhancement initiatives. Quotes and information provided serve to illustrate Sagemount’s expertise in working with management teams, and should not be construed as a testimonial concerning any investment advisory recommendations provided by Sagemount to its clients. These case studies are objectively representative of current and past investments and are provided for illustrative purposes only. Past investments and results are not necessarily indicative of any future investment or results. The historical results above are not intended as a representation or warranty by Sagemount as to the actual composition or performance of any future investments that would be made. The nature of, and risks associated with, any future investments may differ substantially from those prior investments. See the Disclaimers page for additional legal disclaimers.

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