LastPass, a $200M fast-growing security company privately backed by Francisco Partners as the global leader in zero-knowledge password management, recently built its executive leadership team through the guidance of new CEO, Karim Toubba.
CINC Systems Appoints Chief Executive Officer
CINC Systems Receives Growth Investment from Spectrum Equity and Appoints Ryan Davis to Chief Executive Officer
June 10, 2020 — CINC Systems, the largest provider of SaaS solutions for the community association industry, announced that it has received a growth investment from Spectrum Equity, bolstered its executive team and launched an investment fund to support its customers’ growth.
Ryan Davis, a seasoned technology executive with experience delivering growth solutions to small- and medium-sized businesses, joins CINC Systems as Chief Executive Officer. Ryan joins from RentPath, where he was Chief Product and Marketing Officer and oversaw the multifamily real estate marketplace’s expansion into multiple new business lines. He’s a former Weather Channel executive and McKinsey & Co. consultant.
“CINC has grown tremendously in recent years because of its technology, institutional knowledge and customer service,” Davis said. “We will continue the company’s rapid growth, while strengthening our banking partnerships and telling our story to the many property management companies who don’t yet know how CINC can help them grow and position them for long-term success.”
The investment from Spectrum Equity, a leading growth equity firm investing in internet-enabled software and information services companies, will support CINC Systems’ product innovation and expand its sales and marketing efforts. Spectrum is CINC’s first institutional investor.
CINC Systems serves approximately 16,000 of the estimated 350,000 HOAs in the U.S. CINC-served communities total nearly 2 million homes. About 25% of the American population lives in a community association and more than 60% of new housing built for sale is within associations. CINC Systems has clients in 26 states and, through its 18-bank partner relationships, in more than 100 partner banking branch locations.
“No other solution closes the gap between banking and accounting like CINC. The resulting efficiency and scalability, when combined with our management platform, are transformational for our customers,” said CINC Systems Founder and Chairman Bill Blanton. “We’re excited to partner with Spectrum Equity and benefit from its deep expertise in growing SaaS businesses, as well as domain knowledge of both fintech and real estate software. With strengthened resources and an expanded leadership team, we are better positioned to drive future growth and continued innovation.”
Read the full press release from CINC Systems here.
CINC Systems provides transformational technology and services for the community association industry, redefining the way its clients and partners do business. Founded in 2005, CINC Systems became the first Internet-based integrated accounting and property management system for the community association industry. Since its founding, CINC Systems has experienced steady growth, with clients in 26 states and over 100 partner banking branch locations. Learn more at www.cincsystems.com.
Spectrum Equity is a leading growth equity firm providing capital and strategic support to innovative companies in the information economy. For over 25 years, the firm has partnered with proven entrepreneurs and management teams to build long-term value in market-leading internet-enabled software and information services companies. Representative investments include Ancestry, Bats Global Markets, Definitive Healthcare, GoodRx, Lynda.com, Origami Risk, SurveyMonkey, Trintech and Verafin. For more information, including a complete list of portfolio investments, visit www.spectrumequity.com.
ON Partners propels an organization’s mission by building C-level and board leadership teams. Founded in 2006 by like-minded consultants as a values-driven alternative to the multi-service global firms they were leaving behind, ON delivers a better executive search experience. Named by Forbes as one of America’s Best Executive Recruiting Firms and to the Inc. 500/5000 Lists six times, the firm is consistently ranked among the top 20 retained executive search firms in the U.S. For more information, see our results here.
Find our related successful placements of leading executives here.
About ON Partners
Since 2006, ON Partners is the only pure-play executive search firm building diverse C-level and board leadership teams. We rebuilt the institution of executive search for the way you work. Our approach includes present partners who engage with their clients from the first brief to the final decision, individually crafted solutions that are unique to each client, and an easier experience all around. Named by Forbes as one of America’s Best Executive Recruiting Firms and to the Inc. 500/5000 Lists nine times, ON Partners is consistently ranked among the top 20 retained executive search firms in the U.S.
Untraditional by Choice. Original by Design. Since 2006.
START YOUR JOURNEY WITH US TODAY.
If you want to create a new path – ON Partners knows how to help you get there.