Our Highlights

• Aug 24, 2024

  EAM Announces Investment Team Promotions

  EAM announced the promotions of two investment team members. Benjamin Tahmoush and Michaela Thompson have been promoted from Analyst to Associate. As Associates, Ben and Michaela will be responsible for working with EAM and its portfolio companies to identify and evaluate investment opportunities, make acquisitions and to support other growth initiatives. Ben Tahmoush, Associate Ben joined

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  August 24, 2024

  EAM Announces Investment Team Promotions

  EAM announced the promotions of two investment team members. Benjamin Tahmoush and Michaela Thompson have been promoted from Analyst to Associate. As Associates, Ben and Michaela will be responsible for working with EAM and its portfolio companies to identify and evaluate investment opportunities, make acquisitions and to support other growth initiatives.

  Ben Tahmoush, Associate

  Ben joined EAM in 2023. Prior to EAM, Ben was an Investment Banking Analyst at Citigroup where he focused on software coverage. Previously, Ben held internship roles at Battery Ventures and Mucker Capital. Ben received a BBA from the University of Michigan – Ross School of Business.

  Michaela Thompson, Associate

  Michaela joined EAM in 2022. Prior to EAM, Michaela held an internship at Battery Ventures where she focused on sourcing and executing investments in industrial technology.  Michaela received a BS from Boston College – Carroll School of Management.

  About EAM

  EAM is a growth-focused private equity firm. EAM provides equity capital and strategic and operating support to growth companies in the technology and tech-enabled services sectors. With decades of investment experience and operating experience, the firm has earned a reputation for value-creation, serving as steadfast partners to Founders and CEOs. The firm is based in Boston. For more information, please visit http://www.equalityam.com.

• Jul 1, 2024

  Mindoula Founder & CEO Steve Sidel recognized as an EY Entrepreneur of the Year®

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  July 1, 2024

  Mindoula Founder & CEO Steve Sidel recognized as an EY Entrepreneur of the Year®

  Steve Sidel, Founder and CEO of Mindoula, an EAM portfolio company, was named a winner of Ernst and Young’s 2024 Entrepreneur of the Year® (EOY) award for the Mid-Atlantic region. The EOY program celebrates and recognizes business leaders who demonstrate outstanding directorship, under which their companies have experienced remarkable growth and success. Steve was selected by a panel of judges for outstanding pursuance of, as Ernst and Young described it, “long-term value through entrepreneurial spirit, purpose, growth and impact” at Mindoula. EAM congratulates Steve Sidel and Mindoula for receiving this significant honor.

  About Mindoula   

  Mindoula is a next-generation population health management company that identifies, engages, and serves complex and rising-risk populations with behavioral health, medical and social challenges across the continuum of care. Mindoula deploys teams of 24-7 virtual and in-person care extenders — powered by adaptive data science, proprietary psychometrics, predictive analytics and a multi-platform technology suite — to deliver proven outcomes and guaranteed ROIs. Mindoula’s data-driven, member-centric approach has made it a market leader in complex and specialty population health management, collaborative care and behavioral health network extension. Mindoula contracts with payers, primary care and women’s health practice groups, health systems, and hospitals, extending their capabilities and helping them achieve their population health management goals. Headquartered in Silver Spring, Maryland, Mindoula currently operates in VA, DE, PA, WV, LA, NV, FL, NJ, NY, NC, OH, NE, MO, IL, KY, and DC, with national expansion plans to meet the growing need for integrated whole person care. For more information, please visit www.mindoula.com.

  About EAM (Equality Asset Management)

  EAM is a growth-focused private equity firm. EAM provides equity capital and strategic and operating support to growth companies in the technology and tech-enabled services sectors. With decades of investment experience and operating experience, the firm has earned a reputation for value-creation, serving as steadfast partners to Founders and CEOs. The firm is based in Boston. For more information, please visit http://www.equalityam.com.

   

   

• Jun 23, 2022

  Evention Announces Strategic Growth Investment from Equality Asset Management

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  June 23, 2022

  Evention Announces Strategic Growth Investment from Equality Asset Management

  Evention Announces Strategic Growth Investment from Equality Asset Management

  Investment Will Support Evention’s Domestic and International Growth

  CHICAGO, June 23, 2022 /PRNewswire/ — Evention LLC (“Evention”), a leading provider of software to hotels, restaurants, and retailers, announced today that it has secured an investment from Equality Asset Management (“Equality”), a Boston-based growth equity firm. Evention will continue to be led by its founders and Co-Managing Partners, Mike Baldinger, Erik Nejman, and Brian Roth. Financial terms were not disclosed.

  “Evention has been providing financial automation software that improves accuracy, reduces operating costs, and enables compliance for more than 15 years,” said Mike Baldinger, Evention Co-Founder and Managing Partner. “We’re experiencing rapid growth fueled by new products, market expansion, and the macro shift to improve and automate financial processes.”

  “This partnership allows Evention to continue its mission of empowering our customers with financial and back-office automation,” added Erik Nejman, Co-Founder and Managing Partner. “Equality has tremendous experience supporting growth software companies like Evention and we’re excited to welcome them as a partner to our company and to our amazing customers across the globe.”

  “Mike, Erik and I are thrilled about Evention’s next chapter of growth and continuing to build upon our long track record of success,” noted Brian Roth, Co-Founder and Managing Partner.

  Evention was founded in 2004 to solve the data and payroll complexities associated with tips and gratuity calculations. Initial customers were single-location hotels, but management companies and global hospitality and retail brands followed. Today, the Company has thousands of customers across verticals utilizing its cloud-based automation solutions for accounting, payroll, and other financial transactions, reducing administrative time, and increasing profitability. Evention’s growing product portfolio, as well as international presence, positions it as a trusted partner to some of the biggest names in hospitality, restaurants, and retail.

  “Finance and accounting offices are undergoing a modernization that is driving demand for software products that provide clear ROI,” said Oscar Loynaz, Principal at Equality. “Evention streamlines mid and back-office processes while improving transparency and employee engagement. We’re excited to partner with Mike, Erik, Brian and the team at Evention to support their continued success and accelerating growth.”

  “Evention’s focus on building highly valuable automation software that meets the needs of complex operating environments has enabled the Company to serve global brands with very high customer satisfaction” said Jeff Del Papa, Co-Founder and Managing Director at Equality. “With a broadening product portfolio, deep domain expertise, and global footprint, Evention is very well positioned to support customers as they seek the benefits of automation. ”

  McDonald Hopkins acted as legal advisor to Evention. Goodwin Procter LLP acted as legal advisor to Equality.

  About Evention LLC

  Based in Chicago, IL, Evention leverages automation to reinvent legacy accounting processes. Evention’s Software as a Service (SaaS) solutions simplify back-office processes for various verticals – from retail to restaurant to grocery, hospitality, casino, and others. By streamlining the management of cash, credit card reconciliation, tips and gratuities, and group billing processes, Evention’s automated solution suite decreases costs and increases efficiency. With robust controls and comprehensive reporting capabilities, Evention’s solutions guarantee financial transparency and security. Evention serves thousands of customers across the globe.

  About Equality Asset Management

  Equality Asset Management is a growth-focused private equity firm. Equality provides equity capital and strategic and operating support to growth companies in the technology and tech-enabled services sectors. With decades of investment experience and operating experience, the firm has earned a reputation for value-creation, serving as steadfast partners to Founders and CEOs. Equality is based in Boston. For more information, please visit https://www.equalityassetmanagement.com.

  Evention
  Brian Gosizk (brian.gosizk@eventionllc.com) – 312.953.4600

  Equality Asset Management
  Andrew Chironna (achironna@prosek.com) – 646.818.9047

   

   

   

   

• Nov 18, 2021

  SaaS Ecommerce Provider Miva Announces Strategic Growth Investment from Equality Asset Management

  Investment will Support the Growth and Expansion of Miva’s Customer Base and Products

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  November 18, 2021

  SaaS Ecommerce Provider Miva Announces Strategic Growth Investment from Equality Asset Management

  SaaS Ecommerce Provider Miva Announces Strategic Growth Investment from Equality Asset Management

  Investment will Support the Growth and Expansion of Miva’s Customer Base and Products

  November 18, 2021 – San Diego, CA – Miva, Inc., a leading mid-market and enterprise ecommerce platform announced it has secured a significant equity investment from Boston-based growth equity firm, Equality Asset Management. The company will continue to be led by CEO, Rick Wilson. Financial terms of the deal were not disclosed.

  “Emerging from the pandemic, the ecommerce industry is well positioned for growth as more merchants diversify their revenue sources and reevaluate customer engagement online,” said Rick Wilson, CEO of Miva. “As we double down on the things that continue to differentiate us in the market and focus on our growth, we are thrilled to partner with Equality Asset Management to enter the next phase in our evolution.”

  For more than twenty years, Miva has provided a flexible and modern ecommerce platform to retailers, wholesalers and distributors, equipping them with the tools and capabilities needed to scale their ecommerce operations.

  The company creates more agility for its B2B and D2C customers at every step of the sales journey. Whether integrating with existing systems, delivering curated shopping experiences, or creating a customizable online store for direct sales, the platform’s rich functionality, ease of use and customizable nature have positioned it as a technology of choice for thousands of companies globally.  Miva’s low total cost of ownership and high customer satisfaction ratings also continue to receive industry recognition, as customers unlock new sources of revenue on the platform.

  “For both mid-market and enterprise businesses alike, the requirements to manage back-end systems and supply chains have become increasingly complex due to the intricacy of product catalogs, price books and multiple customer touch points,” said Jeff Del Papa, Co-Founder and Managing Director at Equality. “Miva was early in recognizing the need to introduce affordable and configurable solutions that drive automation and reduce operating costs. We are pleased to partner with Rick and the team at Miva to support their future growth and success.”

  “Miva has made significant investments in its software and is poised to grow organically and through strategic acquisitions. We are excited to support this strategy for expansion, in partnership with Miva’s management team,” added Oscar Loynaz, Vice President at Equality.

  First Analysis acted as the exclusive financial advisor to Miva for the transaction. Sheppard Mullin LLP acted as legal advisor to Miva. Goodwin Procter LLP acted as legal advisor to Equality.

  About Miva, Inc. 

  Miva offers a flexible, adaptable and scalable ecommerce platform that allows businesses to drive sales, maximize average order value, cut overhead costs, and increase revenue. Miva has been helping businesses realize their potential for over 20 years by empowering retail, wholesale, and direct-to-consumer sellers across all industries to transform their business through ecommerce. Learn more at www.miva.com.

  About Equality Asset Management
  Equality Asset Management is a growth-focused private equity firm. Equality provides equity capital and strategic and operating support to companies with long-term growth potential in the technology and tech-enabled services sectors. With decades of investment experience and operating experience, the firm has earned a reputation for value-creation, serving as steadfast partners to Founders and CEOs. Equality is based in Boston. For more information, please visit www.equalityassetmanagement.com.

   

  Media Contacts:

  Miva

  Marissa Pasillas (miva@walkersands.com) – 815.721.3086

  Equality Asset Management

  Beatrice Broderick (bbroderick@prosek.com) – 857.301.6949

   

• Aug 27, 2021

  The Art and Science of Scaling with Wendy Cebula

  The Art and Science of Scaling with Wendy Cebula Wendy is an Operating Partner at Equality Asset Management. She has more than twenty years of operating experience in high growth technology enabled businesses, both public and private. Her prior firms include edX, Vistaprint, MotherNature.com and Partners First. Equality Asset Management is a growth-focused private equity

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  August 27, 2021

  The Art and Science of Scaling with Wendy Cebula

  The Art and Science of Scaling with Wendy Cebula

  Wendy is an Operating Partner at Equality Asset Management. She has more than twenty years of operating experience in high growth technology enabled businesses, both public and private. Her prior firms include edX, Vistaprint, MotherNature.com and Partners First.

  Equality Asset Management is a growth-focused private equity firm. Equality provides equity capital and strategic and operating support to companies in the technology and tech-enabled service sectors. For more information, please visit www.equalityassetmanagement.com.

  Chris Keller of Archean Capital: Your experience was heavily influenced by your time at VistaPrint which you joined when it had $1 million of revenue and helped scale to over $1 billion; what were some of the key decisions in that growth?

  Wendy: Vistaprint’s founder and CEO had audacious ambitions for the company and for the customer value proposition. As an operator that meant constantly reassessing what we were doing well and what we needed to do better. The most impactful decisions came from challenging the status quo. For example, at certain periods in our growth, we needed smart, well-rounded employees who could quickly get up to speed on any domain. At other times, we’d recruit individuals with deep domain expertise. The profile of the person who figured out how to land our first channel partnership was different than that of the person who scaled sales and marketing globally. Constantly growing talent from within while recognizing when we needed outside perspective matched our talent with our business requirements.

  We also were deliberate about building scalable capabilities. An example was our approach to customer support. We piloted our approach from our corporate office. They identified customer needs and tested processes and tools. To scale, we ran a global site selection project and chose Jamaica which had an education system centered around hospitality and an enthusiastic labor pool. We identified the right balance between local leadership and ex-pats who knew the Vistaprint way. Our Montego Bay location grew to hundreds of team members and became an employer of choice while giving Vistaprint a cost and service advantage. We had many interesting 8:00am flights, working on our laptops among a plane full of vacation bound passengers enjoying free champagne.

  Chris: Can you discuss a decision that, looking back, was a pivotal one to Vistaprint’s success?

  Wendy: Early in Vistaprint’s lifecycle, one of our funding rounds fell through. We had just launched 2 new products which we were very excited about but that weren’t yet profitable. We knew we needed to cut our burn rate and we had heated discussions about whether to make big changes or to take a more measured approach. We made the difficult decision to cut resources to the bone, including turning off the new products to focus our resources on profitably growing our core. Later, we re-launched the products and began rebuilding our team with a clearer view. The decision didn’t just save the company. It helped us to appreciate the benefits of being bold and decisive, and identifying, prioritizing, and focusing on what is most important, and deprioritizing what isn’t.

  Chris: What, if any, mistakes were made along the way and how do you help management teams learn from your mistakes as opposed to learning by making their own?

  Wendy: I’ve certainly made too many mistakes to count. Shawn McGowan, also an Equality operating partner, and I have each held roles at several growth-stage companies and have been board members or advisors to others. While a given team might encounter a situation once or twice, Shawn and I may have collectively observed a similar situation many times. Our approach is to add these additional real-world data points and perspective to the pool of information available as management makes the decision.

  For example, we often talk to founders with a great product. Their growth plans now require them to successfully build out a sales and marketing team to accelerate growth, but they have little or no experience doing so successfully. Shawn and I have collectively vetted many sales and marketing leaders. We are available as thinking partners on the profile and interview approaches and as members of the interview team. In fact, we just leaned into a process to recruit a new CRO to one of our portfolio companies. While our participation doesn’t guarantee every hire will be a fit, it increases the probability of success.

  Chris: I’m glad you mentioned recruiting. One of your skills is human capital assessment. How does your expertise help Equality pre or post investment?

  Wendy: Shawn and I have experience building high performing teams. The fact that we are included in the deal process from day one affords us a real opportunity to get to know and evaluate teams pre-close.

  First, we ask the CEO to walk us through their organization design and team. We then ask each functional leader to do the same. In all diligence meetings we observe interpersonal dynamics, how challenging questions are handled, and each individual’s command of their metrics and domain. We form hypothesis to test throughout the diligence process. Are roles, responsibilities, and goals clearly defined and aligned with incentives? Is decision making appropriately distributed? Does the team have the mix of experience and skills to execute on their strategy? Is the team diverse and inclusive? What is the company culture?

  We do a lot of work with founders. The brilliance of a founder is often their vision, passion and commitment to their teams and ideas. This can produce very high-quality products and financial results, but it very often results in leadership teams and organizations that are non-traditional when compared to larger businesses. Fully assessing the capabilities of a team, identifying gaps, and helping leaders to focus on areas where they have a superpower is very important for achieving a long-term scalable organization and ultimately for driving growth and margins. Our approach gives us clear visibility into team strengths and weaknesses and provides a data driven approach to making team and organizational decisions.

  Chris: What’s been the greatest lesson you’ve learned as it relates to people & talent?

  Wendy: My greatest learning is the power in identifying someone’s superpower and finding a way to get them into a role that takes full advantage of those strengths.

  Chris: What do you like most about being an operating partner at Equality?

  Wendy: I get a lot of satisfaction from supporting individuals and teams. Moments where my advice or partnership have a positive impact on someone else’s success are very rewarding.

  At Equality, we are entrepreneurs at heart, and we apply that passion to supporting the entrepreneurs in which we invest. We use an operator-to-operator approach which means the operating partners participate in all aspects of the investment process. By the time a deal closes we have relationships with management, an understanding of the company’s strategy, areas of operating strength and opportunity, and are aligned both internally and with management on the post-close plan. We can do all of this with empathy, humility, and perspective, having spent many years in the shoes of the management team. Several founder/CEOs have shared feedback that they selected Equality as their partner in part because of the differentiated value our operating partners could bring. It is fun to be part of a team that values and benefits from our experience.

  Chris: What do you like to do outside of work?

  Wendy: At home I have a husband and two teenage girls. They would each be quick to tell you I run our household much like I’d run a business. We maintain a backlog of chores and graph our expenses to visualize year on year trends and variance to budget. We maintain a strong culture of transparency, accountability and 360 feedback. In my downtime I enjoy watching sports, working out at Orange Theory, taking our dogs for walks and reading.

  Chris: Classic! I can imagine family dinners with PowerPoint. Thanks for your time. I enjoyed it.