Haveli Investments Acquires Certinia

Differentiated, Best-in-Class PSA Solution in Rapidly Expanding Market Poised for Accelerated, Profitable Growth

AUSTIN, Texas & SAN JOSE, Calif.--(BUSINESS WIRE)-- Haveli Investments, L.P. (“Haveli” or “Haveli Investments”), a technology-focused private equity firm, today announced that it has entered into a definitive agreement to acquire Certinia (“Certinia” or the “Company”), formerly FinancialForce, from Advent International and Technology Crossover Ventures. Certinia's Services-as-a-Business platform includes Professional Services Automation (“PSA”), Customer Success, Services CPQ, ERP and FP&A solutions. Haveli will fund the transaction from Haveli Investments Software Fund I L.P., with participation from partners including General Atlantic, a leading global growth equity firm. Salesforce (NYSE: CRM) will continue as a shareholder in Certinia.

Certinia’s industry-leading PSA software powers and connects all aspects of professional services operations, from services estimation and delivery to customer success management and financial planning and accounting. Certinia’s suite of offerings, including ERP and Customer Success solutions, offers a system of record for people-centric services engagements. The Company delivers a complete services-as-a-business platform and has transformed services delivery for 1,400 customers in more than 30 countries.

Ian Loring, Senior Managing Director and Executive Chair of the Haveli Software Fund, commented: “Certinia is the gold standard system of record for end-to-end software for professional services organizations, and its demonstrated continued ability to deliver market-leading capabilities underscores the Company’s impact and future potential. We are thrilled to partner with Certinia for Haveli’s first enterprise software investment, and we look forward to collaborating with the talented team there to continue its strong growth trajectory.”

Mike Stewart, Principal at Haveli Investments, said: “Certinia has an incredibly strong offering with a loyal and growing customer base. Given our team’s collective experience working with high potential companies in the enterprise software space, we believe Haveli is very well positioned to support Certinia through its next stage of growth and drive value creation for all of its stakeholders.”

Scott Brown, President and CEO of Certinia, stated: “Haveli has assembled a world-class team of investment professionals, and we are thrilled to partner with them as we enter this exciting next chapter for Certinia. We are very well positioned in a rapidly expanding market, and with Haveli as our new PE partner, we are confident we can take full advantage of growth opportunities and further enhance our ability to meet our customers’ ever evolving needs and help them achieve their full potential.”

The transaction is subject to customary closing conditions and is expected to close in August 2023.

Ropes & Gray LLP and Morgan Stanley served as legal and financial advisers to Haveli on the transaction.

About Haveli Investments

Haveli Investments is an Austin-based private equity firm that seeks to invest in the highest quality companies in the technology sector through control, minority or structured equity and debt investments with a focus on software, data, gaming and adjacent industries. The firm partners with innovative companies, entrepreneurs and management teams throughout a company’s life cycle. Haveli’s experienced team of investors and diverse industry experts will provide operational and strategic support, enabling portfolio companies to focus on driving innovation and increasing growth, scale and operating margins. Underscoring Haveli’s investments is an unwavering focus on DEI and sustainability. For more information, please visit www.haveliinvestments.com, or follow Haveli on LinkedIn, @Haveli Investments.

Haveli, Haveli Investments, the Haveli logos and related names are registered trademarks or service marks of Whanau Interests LLC. All rights reserved.

About Certinia

Certinia (formerly FinancialForce) delivers a Services-as-a-Business platform that powers and connects all aspects of services operations, from services estimation and delivery to customer success management and financial planning and accounting. The company’s Professional Services Automation (PSA), Customer Success, and ERP solutions—delivered on Salesforce’s leading cloud platform—provide services businesses with the ability to run a connected services business, deliver with intelligence, and achieve business agility. Headquartered in San Jose, California with offices around the world, Certinia is backed by Haveli Investments and Salesforce Ventures. For more information, visit www.certinia.com.

Certinia, the Certinia logo, FinancialForce, FinancialForce.com, and the FinancialForce logo are trademarks or registered trademarks of Certinia Inc. or its licensors. Any third-party brands or names referenced herein may be trademarks of their respective owners.

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For Haveli:

Investors

Caroline Bal Doherty

Haveli Investments

(512) 831-2523

cdoherty@havelii.com

Media

Hugh Burns/Paul Caminiti/Pamela Greene

Reevemark

(212) 433-4603

HaveliTeam@Reevemark.com

For Certinia:

Media

Sue Sutton/Mike Tomlinson

Certinia

prteam@certinia.com

Source: Haveli Investments, L.P.