Main Line Equity Partners Invests in Matrix Solutions
Growth capital to expand services and management buyout for media-specific CRM and data analytics leader
Matrix Solutions, the leading provider of Media CRM and Sales Analytics, has received an investment from Main Line Equity Partners. In addition to financing, strategic guidance and operational resources will support Matrix’s growth plans for its web-based platform and a buyout of its founder and majority owner.
“This is a very exciting time for our company,” said DJ Cavanaugh, CEO at Matrix Solutions. “The combination of our product innovations and Main Line Equity’s support affords us greater opportunities to advance our platform capabilities, improve the customer experience, and help our customers increase media sales.”
Since Matrix was first introduced to the media industry in 1992, it has continually improved its Media CRM and Sales Analytics platform—from transforming to an app-like user experience to extensive analytics/reporting and data cleansing and normalization. Matrix’s growing media customers represent more than 110 markets throughout North America. The growth partnership between Main Line Equity Partners and Matrix Solutions will build on a solid foundation.
Main Line Equity Partners has purchased the interests of the Company’s majority shareholder and is backing CEO DJ Cavanaugh as he grows and expands Matrix Solutions.
“Matrix has proven technology and an outstanding team with extensive knowledge in the media industry,” adds Mark Gorman, Managing Director at Main Line Equity Partners. “The Company is extremely customer focused—not by just the products it offers, but how the service is delivered, which explains why they have a 90% renewal rate on multi-year contracts. We are extremely excited that our combined efforts will result in enhanced products and services to existing and future clients.”
Financing for this investment is being provided by First Niagara Bank through Kimberly Powell. Additionally, Dominic Marco at LaulettaBirnbaum, LLC served as lead counsel on the transaction for Main Line Equity Partners.
About Matrix Solutions
Matrix Solutions offers a leading web-based media-specific platform that enables intelligent business decisions for managing your sales teams, their opportunities and accounts across TV, Radio, and electronic advertising businesses. The Matrix solution transforms chaotic data into actionable sales information and provides deep media sales workflow to gives you the exact information needed for prospecting, managing, evaluating and closing business. Over 500 media customers use Matrix Solutions’ CRM, data normalization and analysis, and reporting functions as their platform of choice for their sales people and managers to get a 360-degree view of their opportunities and accounts.