Gemspring Capital, a middle-market private equity firm, is pleased to announce its acquisition of Cforia Software, LLC (“Cforia”), a leading provider of order-to-cash (OTC) automation software.
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Based in Westlake Village, CA, Cforia’s OTC automation software platform improves collections and cash management for B2B customers globally. Co-founders Chris Caparon and Dave McIntyre designed the Cforia platform to allow companies to accelerate the conversion of accounts receivable to cash and better manage credit exposure, leading to significant cost of capital and expense reductions for customers. Cforia’s success has been driven by superior technology that leverages proprietary, real-time data integration tools that work across complex and disparate ERP systems. Gemspring’s investment will enable Cforia to continue to develop its robust product offering, enhance its sales and marketing capabilities and accelerate growth.
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Chris Caparon, CEO of Cforia, commented: “We are confident that Gemspring’s expertise, resources and capital will help Cforia accelerate growth and take the next step in its evolution. We look forward to leveraging these resources to expand our marketing and sales strategies and to continue developing and deploying product enhancements that serve our growing global customer base.”
Aron Grossman, Managing Director at Gemspring, added: “Cforia’s highly regarded software solution has enabled its customers to streamline the A/R management process, reduce working capital needs and generate consistent and attractive ROIs on their investment in Cforia’s platform. We are excited to partner with Chris, Dave and the entire Cforia team to build on the successes achieved to date in the next stage of growth.”
