In The Press
MadCap Software Announces Significant, Majority-Growth Investment from Battery Ventures
Building on 16 years of growth, software provider for content authors and instructional designers will leverage funds to accelerate growth amid expanding market
San Diego, CA, USA – January 11, 2022 – MadCap Software, Inc., a leading provider of single-source, multi-channel content authoring and publishing software, announced a significant, majority-growth investment from Battery Ventures. Battery is a global, technology-focused investment firm with a long history of backing business-focused software companies.
MadCap Software, a bootstrapped company founded in 2005 by veteran technology executive Anthony Olivier, creates solutions to help technical writers and content developers more quickly and efficiently create content, such as self-service support sites and online help; user guides; instruction manuals; interactive eLearning courses; product training; and more. The company’s software suite covers the full lifecycle of technical and eLearning content creation, from authoring and publishing to project and content management.
The new investment comes on the heels of increased market adoption of the MadCap Authoring and Management System (AMS) by organizations worldwide. With the funding in place, MadCap Software will accelerate the expansion of its solutions, services, and global presence to meet growing demand. The U.S. Bureau of Labor Statistics estimates that technical writer employment will grow 12% between 2020 and 2030, faster than the average for all occupations.
“Today’s faster product development cycles—as well as the move by organizations to deploy more software applications in the cloud—is fueling a push to create related technical documentation for more products more quickly, expanding MadCap’s potential market,” said Morad Elhafed, a Battery general partner.
“Anthony and his team have built an exceptional business helping organizations streamline their growing content creation and delivery needs,” Elhafed added. “We are thrilled to partner with Anthony and MadCap to help accelerate the company’s growth through product enhancements, go-to-market improvements and, potentially, targeted acquisitions.” Elhafed and Battery Principal Roland Anderson have joined MadCap Software’s board as part of the investment.
“Thus far, we have achieved success at MadCap Software with minimal investment, fueled by strong organic growth and sound financial management. Now, in partnering with Battery, an established, well-networked, and well-capitalized software investor, we have laid a strong foundation for our next phase of growth,” said Olivier, who previously was the CEO of eHelp Corp., which was acquired by Macromedia (later acquired by Adobe). “We look forward to working with the Battery team in taking our company to the next level.”
MadCap Software counts customers across a wide variety of industries, from technology to finance to consumer goods and pharmaceuticals. Its content authoring and publishing solutions allow technical writers and instructional designers to operate more efficiently by shortening content development cycles; creating content in multiple languages and formats (such as web, print and mobile); developing interactive eLearning courses and employee training; and providing usage analytics that track customer search queries and engagement.
Needham & Company served as exclusive financial advisor to MadCap Software in this transaction.
About MadCap Software
MadCap Software is a trusted resource for thousands of companies around the globe for single-source, multi-channel authoring and publishing solutions designed to streamline the process of developing and delivering training content, learning and development programs, technical documentation, online Help, knowledge bases, and more. From authoring, publishing and translation, to cloud-based content management system, to contribution and review in the cloud, you can streamline content delivery and manage the entire content development lifecycle with MadCap Software. MadCap Software’s services include product training, consulting services, translation and localization, and an advanced developer certification program. Headquartered in San Diego, California, with offices in Austin, TX, MadCap Software is home to some of the most experienced software architects and product experts in the content development industry.
About Battery Ventures
Battery partners with exceptional founders and management teams developing category-defining businesses in markets including software and services, enterprise infrastructure, online marketplaces, healthcare IT and industrial technology. Founded in 1983, the firm backs companies at all stages, ranging from seed and early to growth and buyout, and invests globally from six strategic locations: Boston; San Francisco and Menlo Park, Calif.; Herzliya, Israel; London; and New York. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery's portfolio companies here.
PR Contacts:
Rebecca Buckman
becky@battery.com
650-703-0364
Rebecca Hurst
Kinetic.PR for MadCap Software
rebecca@kineticprllc.com
650-679-9282
