AlertMedia Inc., an Austin-based company that provides emergency communications for businesses and other organizations, has secured a major investment from Austin-based Vista Equity Partners.
Terms of the deal weren't disclosed, but a source familiar with it told Fortune that the investment totals $400 million and represents a controlling stake in the business. AlertMedia's prior investors — JMI Equity, Next Coast Ventures, Silverton Partners and founder and CEO Brian Cruver — will keep a significant stake, as well. AlertMedia plans to rapidly hire additional talent and expand into new markets with the financial influx.
Launched by CEO Brian Cruver in 2013, the company monitors threats worldwide and makes and sells software that companies or governments can use to push out mass notifications and even receive messages back from recipients. It has raised $57 million and reported last year more than $20 million in annual recurring revenue.
In 2020, the company created a threat monitoring division and tapped Sara Pratley, a former CNN executive and journalist, to lead it.
