Rave Mobile Safety Announces Significant Investment from TCV

FRAMINGHAM, Mass., April 25, 2019 /PRNewswire/ — Rave Mobile Safety (Rave), the leading provider of critical communication and data platform solutions trusted to save lives, today announced it has received a significant investment from TCV, one of the largest growth equity firms backing private and public technology companies. The investment and expertise from TCV will help Rave fuel its product innovation and growth plans and position the company to continue to build on its market-leading portfolio of communication solutions deployed by top education and healthcare institutions, enterprises, and state and local public safety agencies.

“Today is a wonderful milestone for Rave and a testament to the tremendous results our customers have seen using the technology that they helped design to improve the safety of those they protect,” said Todd Piett, President and CEO of Rave Mobile Safety. “TCV has a history of investing in category-redefining companies and their partnership reaffirms our innovation track record, market-leading customer retention and the rising demand for holistic crisis and emergency management solutions. This investment will fast-track our vision for the business, and we’re eager to step into this next chapter of our company’s history.”

Since its inception in 1995, TCV has raised over $15 billion across 10 funds and invested over $11 billion in leading technology companies including Netflix, Facebook, Expedia, Spotify, Airbnb, GoDaddy, and Zillow. TCV also brings significant software buyout experience, having partnered with leading vertical market software companies, including ETQ, IQMS, Watermark, SMT, CCC, and Avetta.

“The Rave platform is unique in that it helps effortlessly bring together the various entities involved in citizen safety. We were impressed with Rave’s stellar customer base across multiple industries and steady product innovation in a market that is ripe for disruption,” said Kapil Venkatachalam, General Partner at TCV. “Rave will be able to leverage a broad range of TCV’s resources, including our deep sector knowledge and network of advisors to capitalize on growth opportunities in present and untapped market segments.”

“Today’s safety leaders are utilizing innovative technology to prepare better, respond faster, and communicate more effectively,” said Bob Burke, Venture Partner at TCV. “We are delighted to partner with an experienced executive management team and help shape the company’s expansion following on Rave’s 10 years of consecutive double-digit growth.”

Rave has over 5,000 customers deployed in the United States. The City of Chicago, Washington D.C. Schools, the City of Cincinnati, Iowa State University and City of Virginia Beach are some of the 1,100 customers added during the past year. Thousands of agencies and institutions across law enforcement, 9-1-1, state and local emergency management agencies, corporations, healthcare organizations, K–12 districts, colleges and universities depend on Rave’s solutions.

“The community in Virginia Beach has to not only account for the safety of our 450,000-plus citizens, but also for the millions of visitors who travel to our shores each year,” added Stephen Williams, Director – Emergency Communications Citizen Services for the City of Virginia Beach. “We recently upgraded to the Rave Mobile Safety platform from a legacy system because of Rave’s robust Mass Notification feature set and ability to deliver critical information to 9-1-1. Rave gives us that advantage and the peace of mind that comes from knowing we can shorten response times and handle spikes in activity during our busy tourist season.”

Shea & Company served as financial advisor to TCV. Raymond James & Associates acted as exclusive financial advisor to Rave Mobile Safety.

For more information about Rave, visit RaveMobileSafety.com.

About Rave Mobile Safety
Rave Mobile Safety, a trusted safety software partner, provides the leading critical communication and data platform trusted to help save lives. Used by leading education and healthcare institutions, enterprises and state and local public safety agencies, the award-winning Rave platform including Rave Alert™, Rave 911 Suite™, Rave Panic Button™, Rave Guardian™, Rave Prepare™ and Rave Eyewitness™ SwiftK12™ and Swift911™ protects millions of individuals. Rave Mobile Safety is headquartered in Framingham, Mass. For more information, please visit https://www.ravemobilesafety.com/.

About TCV
Founded in 1995, TCV provides capital to growth-stage private and public companies in the technology industry. TCV has invested over $11 billion in leading technology companies and has helped guide CEOs through more than 120 IPOs and strategic acquisitions.

TCV’s software investments include Alarm.com, Altiris, Ariba, Avalara, ExactTarget, ETQ, FinancialForce, Genesys, IQMS, OSIsoft, Sitecore, SMT, and Splunk. TCV is headquartered in Menlo Park, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, please visit http://www.tcv.com.

SOURCE Rave Mobile Safety

Media Contacts:

Rave Mobile Safety
Phone: 888-605-7164
PR@ravemobilesafety.com

TCV
Katja Gagen
Phone: 415.690.6689
kgagen@tcv.com

Related Links

https://www.ravemobilesafety.com

Silver Peak Announces $90 Million Investment From TCV to Accelerate SD-WAN Growth

SANTA CLARA, Calif. — Silver Peak®, a global leader in broadband and hybrid WAN solutions, today announced a $90 million strategic investment from TCV. The investment enables Silver Peak to expedite execution of its go to market expansion plans and cement its position as a global leader in SD-WAN and cloud-first WAN edge solutions. TCV is one of the largest providers of capital to growth-stage private and public companies in the technology industry and has backed industry-leading companies including Airbnb, ExactTarget, Genesys, Netflix, Rapid 7, Redback Networks, Splunk, Spotify, and Zillow. With the investment, TCV general partner Tim McAdam will join the Silver Peak board of directors.

As applications migrate to the cloud, it’s become clear that enterprise networks must evolve in order for geographically distributed companies to benefit from the increased agility, flexibility and simplicity the cloud promises. Users connect to applications via the Wide Area Network (WAN), which was originally designed when applications resided exclusively in the data center. To truly realize the full benefits of the cloud, enterprises need to move beyond legacy router-centric approaches that are manual, error-prone and ineffective in a cloud-first environment. Only Silver Peak delivers all the necessary functions of the new WAN edge in a single device – advanced SD-WAN capabilities, routing, security and integrated WAN optimization – that simplifies the WAN edge, delivers new levels of agility and automation, and improves productivity.

“It’s rare that we see an opportunity to disrupt a massive, entrenched $100 billion technology category supporting mission critical applications and communication,” said Tim McAdam, general partner at TCV. “After researching all the players in the multi-billion-dollar SD-WAN market and speaking with enterprise CIOs, it is clear that Silver Peak has the most complete solution, clear market differentiation and traction, and a unique vision for the future of the new WAN edge. We look forward to working with the team to rapidly grow the business.”

“With more than $100 billion spent on the WAN every year by enterprises, much of it on technology that pre-dates the cloud, Silver Peak has an enormous opportunity as we deliver disruptive new WAN edge solutions for enterprises,” said Silver Peak Founder and CEO, David Hughes. “TCV has a proven track record for identifying high-growth markets and investing in those innovative companies with the right solution and the right team in place to achieve market leadership. Our partnership with TCV will help accelerate our growth trajectory, increase our competitive advantages and extend our market leadership. We are excited to work with the TCV team.”

J.P. Morgan served as exclusive placement agent to Silver Peak on the transaction.

About Silver Peak

Silver Peak is a global leader in broadband and hybrid WAN solutions. Silver Peak offers a high-performance SD-WAN solution that provides secure and reliable virtual overlays to connect users to applications with the flexibility to use any combination of underlying transport without compromising application performance. This results in greater business agility and lower costs. More than 3,000 globally distributed enterprises have deployed Silver Peak broadband and hybrid WAN solutions across 80 countries. Learn more at silver-peak.com.

About TCV

Founded in 1995, TCV provides capital to growth-stage private and public companies in the technology industry. Since inception, TCV has invested over $10 billion in leading technology companies and has helped guide CEOs through more than 110 IPOs and strategic acquisitions. TCV’s investments include Airbnb, Altiris, AxiomSL, Dollar Shave Club, EmbanetCompass, EtQ, ExactTarget, Expedia, Facebook, Fandango, GoDaddy, HomeAway, LinkedIn, Netflix, OSIsoft, Rent the Runway, Sitecore, Splunk, Spotify, Varsity Tutors, and Zillow. TCV is headquartered in Menlo Park, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit https://www.tcv.com/.

© Silver Peak Systems, Inc. All rights reserved. Silver Peak and the Silver Peak logo are trademarks or registered trademarks of Silver Peak Systems, Inc. in the United States and/or other countries. All other marks may be trademarks of their respective owners.

Contacts

Silver Peak
Danielle Ostrovsky, 410-302-9459
dostrovsky@silver-peak.com

or

TCV
Katja Gagen, 415-690-6690
kgagen@tcv.com