A Louisville-based software company has been acquired.
Sierra Interactive, which offers lead generation software for real estate teams, is joining ASG, a portfolio company of Alpine Investors that buys and builds vertical software-as-a-service companies, according to a news release. Terms of the deal were not disclosed.
Sierra Interactive was founded in 2007 by Ben Peskoe. The company has since grown to more than 85 team members working remotely across the U.S. and the world.
In the release, Peskoe said the Sierra Interactive's growth has accelerated in recent years.
With that growth, we began to get a real sense of the huge opportunities in front of us — as well as the challenges that would come along with them,” he said. “To keep delivering new, innovative features and support at the scale and pace we wanted to, we needed to find a partner whose vision for Sierra was as big as our own, and we found it in ASG.”
Apline Investors, a private equity firm specializing in investments in the software and services industries, is currently investing out of its $2.25 billion eighth fund. ASG, backed by Apline, has made more than 45 acquisitions since 2016, resulting in exits for 70 founders.
“We are thrilled to expand our footprint within real estate software,” said Alice Song, president and head of M&A at ASG, in the release. “Sierra has built an incredible product that helps real estate agents and teams accelerate their business. We’re excited to empower Sierra and its talented team in their next chapter of growth, while leveraging what we’ve already learned about real estate tech from our acquisition of loan officer software leader Homebot in 2020.”
Peskoe and COO Brandon Hedges will continue to help lead the Sierra Interactive. They are joined by incoming CEO Peter Maglathlin, an experienced software leader who has co-founded and operated multiple businesses, and CTO Jeffrey Campbell, who has led technology teams and programs at several startups, most recently at Stripe, the release states.
Peak Technology Partners served as financial advisor and Dentons acted as legal counsel to Sierra Interactive. Willkie Farr & Gallagher LLP served as legal counsel to ASG.
