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PALO ALTO, Calif., Aug. 14, 2018 (GLOBE NEWSWIRE) -- Intapp, a leading provider of industry solutions for the $2 trillion global professional services industry, today announced the acquisition of DealCloud, which specializes in CRM and deal management for investment banking and private equity firms. DealCloud’s previous investors include FINTOP Capital, Hamilton Lane and Cultivation Capital.
This acquisition continues Intapp’s mission to create a vertical industry platform for the professional services sector. By combining innovative Silicon Valley technology with deep sector expertise, Intapp’s platform solves the specialized requirements of the professional and financial services industries in a way that has never been available from traditional horizontal technology providers.
The Intapp Professional Services Platform is purpose-built to address the unique needs of professional services and capital markets firms across the client lifecycle. The solutions are designed to help firms win and grow clients, manage risk and compliance, and deliver services and outcomes more efficiently and profitably.
DealCloud will strengthen Intapp’s financial services presence. Together, Intapp and DealCloud’s offerings will provide a comprehensive, cloud-based client life cycle platform that will manage all phases of client relationships throughout the professional and financial services transaction ecosystem.
“We are very pleased to join with the DealCloud team to better support an increasingly integrated and collaborative professional and financial services industry,” said John Hall, CEO of Intapp. “There are a lot of moving parts when private equity firms, investment banks, lawyers, accountants, consultants and other advisory professionals work together to manage client transactions, projects and outcomes successfully. Bringing DealCloud’s business development and CRM capabilities under the Intapp umbrella enhances our ability to meet the specific needs of professionals in this unique ecosystem.”
“Today’s leading capital markets firms are supported by a global network of legal, accounting and consulting firms that provide essential professional services to enable deal success. Firms in these industries share the same go-to-market and deal execution process with clients,” said Rick Kushel, CEO of DealCloud. “Working together with Intapp – and being able to leverage its market position and much larger balance sheet – gives us the critical mass we need to see our vision become reality across the entire industry.”
“Intapp’s position as the market leader for the professional services industry, coupled with the work we’ve done at DealCloud in financial services, creates a truly one-of-a-kind company with the ability to transform how deal-making is done,” added Ben Harrison, DealCloud’s co-founder. “Our shared vision convinced us that Intapp is the best home for the DealCloud team and technology.”
Client-Based Industries Have Been Underserved by Horizontal Technologies
According to Kushel, it’s clear that traditional CRMs based on the classic sales department pipeline model haven’t worked in professional services firms. Partners in firms don’t use them because these CRMs don’t match the way they actually develop client relationships.
“DealCloud has created the most innovative, partner-friendly business development platform in the marketplace,” said Dan Tacone, Intapp’s president. “They understand the critical role of professional networking relationships, and the requirement to help partners manage client and individual matters, engagements and projects across a fluid team of deal professionals. When we pair DealCloud with Intapp’s unmatched capabilities in client acceptance, compliance and delivery, we are very excited about the value this combination delivers to our clients.”
DealCloud is a pioneer in M&A software. The company was formed in 2010 by a team of former deal professionals with deep knowledge of the private capital markets, and has been backed by FINTOP Capital, Cultivation Capital and Hamilton Lane. DealCloud is now a global leader in providing deal management, workflow and technology solutions to capital markets firms, including private equity and growth capital firms, sell-side banks, publicly traded companies and debt capital investors. For more information, please visit www.dealcloud.com
Intapp provides software and services that enable professional services and capital markets firms to thrive in an increasingly competitive marketplace, enhancing their ability to win more business, operate efficiently, manage risk and drive project and client success. Over 1,100 customers globally, including 96 of the Global 100 law firms, five of the top eight global accounting firms, and more than 400 capital markets and advisory firms, rely on us. We offer a professional services platform – purpose-built for this industry – spanning the entire client life cycle, with solutions for client development, business acceptance and client delivery. Intapp is backed by Temasek and Great Hill Partners. For more information, visit www.intapp.com
Laura Ruark, 540.599.7886