December 3, 2020
Hg Has Made a Majority Investment in Benevity
- Hg is a leading investor in software and services, focused on backing businesses that change how we all do business.
- Hg’s deep technology expertise, complemented by vertical application specialization and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses.
- Hg has over $30 billion in funds under management, with an investment team of over 140 professionals, plus a portfolio team of more than 30 operators, providing practical support to help their businesses realize their growth ambitions.
- Based in London, Munich and New York, Hg has a portfolio of over 30 software and technology businesses, worth over $50 billion aggregate enterprise value, with over 35,000 employees globally.
- Benevity, a certified B corporation, is a leader in global corporate purpose software, providing the only integrated suite of community investment and employee, customer and nonprofit engagement solutions.
- The Benevity platform has driven more than 34 million hours in volunteer time and talent, 275,000 positive actions, over one million grants and more than $6 billion in donations to date.
- Benevity’s 650 clients and their 19 million employees support issues ranging from food insecurity, human rights, diversity and inclusion, racial equity, mental health – and everything in between.
- A finalist in Fast Company’s 2020 World Changing Ideas Awards, many iconic brands rely on Benevity’s cloud solutions to power their purpose in ways that better attract, retain and engage today’s diverse workforce, embed social action into their customer experiences and positively impact their communities.
- Benevity was founded in 2008 and is headquartered in Calgary, Alberta, Canada.
General Atlantic Profile
- General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies.
- Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build market-leading businesses worldwide.
- General Atlantic has more than 175 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, Jakarta, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, Shanghai and Singapore.
JMI Equity Profile
- JMI Equity is a growth equity firm focused on investing in leading software companies.
- Founded in 1992, JMI has invested in over 150 businesses in its target markets, successfully completed over 100 exits and raised more than $4 billion of committed capital.
- JMI partners with exceptional management teams to help build their companies into industry leaders.
- General Atlantic
- JMI Equity
- Nonprofit & Association Management
“For the last decade, Benevity has been transforming the way businesses engage stakeholders in social impact initiatives, evolving them from passively transactional investments to empowered, personalized experiences. By embracing a grassroots approach to goodness – that is supported by scalable software – companies create more meaningful purpose-driven cultures and consumer-facing brands, helping them truly do well by doing good.”
Bryan de Lottinville Founder & CEO, Benevity
“It is truly exciting to partner with an organization that enables such positive impact to society, and we passionately believe in what Bryan, Kelly and their team are creating. Benevity is already a robust, high-growth business with a trusted platform for some of the world’s largest global brands looking to boost their purpose-driven activities.”
Nic Humphries Senior Partner & Head of Saturn Team, Hg
“We are strong believers in Benevity’s mission to empower enterprises and employees alike to support the causes they care about. Over the three years of our partnership with Benevity, the company has demonstrated the resonance of its platform as it has added premier clients – becoming the backbone for their corporate giving and employee engagement programs – and enabled giving on a global scale. We are proud to welcome a trusted partner in Hg in the company’s next phase of growth.”
Alex Crisses Managing Director, General Atlantic
- Hg’s majority investment in Benevity was announced on December 3, 2020; financial terms were not disclosed.
- Hg will lead the investment, which will be made from the Hg Saturn 2 Fund, in partnership with Benevity’s current investors, General Atlantic and JMI Equity, who will remain significant investors in the business, alongside the Benevity management team.
- Shea & Company served as the exclusive financial advisor to Hg.