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Resurgens Technology Partners Announces Investment in Axosoft
September 3, 2020
Portfolio Company News,Press Releases

PHOENIX, AZ AND ATLANTA, GA

Resurgens Technology Partners (“Resurgens”), a software-focused private equity firm, is pleased to announce a strategic equity investment in Axosoft, a leading provider of DevOps productivity and collaboration solutions across the software development ecosystem. This partnership will enable the company to better serve the platform’s expansive global user base of developers by driving enhancements within the current product suite and developing additional innovative DevOps product offerings.

Axosoft is best known for GitKraken, its primary product suite that provides developers with a cross-platform Git Graphical User Interface (GUI) client—a visual way of managing both public and private source code repositories—along with issue tracking and planning solutions. Outside of the GitKraken suite, the company also offers a scrum and bug tracking solution using agile methodology to help teams complete their projects on time and efficiently manage bug fixing.

Resurgens has partnered with Wayne Williams – the former CEO of Thoma Bravo-backed Embarcadero Technologies and a thirty-year infrastructure software veteran – with its investment into Axosoft. Wayne has become the Executive Chairman of the company, and he is joined by two former Embarcadero executives, Mike Swindell and James Pitts, who will also be heavily involved in developing and executing the company’s growth strategy.

“We realized it was the right time to capitalize on the market potential and bring on a strategic investor,” said Hamid Shojaee, Founder and CEO of Axosoft. “At this important inflection point in our company’s evolution, we needed to be extremely thoughtful and cognizant of cultural fit. It was clear from the outset that Resurgens’ approach was unique, and building a team-based, winning environment is as important to them as it is to us.”

“We’re excited to partner with the Axosoft team and Wayne Williams to help accelerate the company’s leading market position in delivering a rich DevOps platform,” said Fred Sturgis, Co-Founder and Managing Director at Resurgens. “The company’s GitKraken product has achieved significant growth and market adoption and will be a great foundation on which to build in the Git development space.”

This investment marks Resurgens’ fifth platform investment, continuing to build on its momentum of partnering with lower middle-market software and tech-enabled services businesses.

 

About Axosoft

Axosoft is a Phoenix-based software company and leading provider of DevOps productivity and collaboration solutions, including its flagship product suite, GitKraken.  GitKraken has rapidly emerged as a leading solution in the software developer ecosystem, having acquired over two million users globally since its release in 2016.   For more information, visit www.axosoft.com or www.gitkraken.com.

About Resurgens Technology Partners

Resurgens Technology Partners is an Atlanta-based private equity firm focused on investing its $200 million fund in North American-based, lower middle-market software and tech-enabled services businesses. The Resurgens founders and broader team includes professionals with significant investment and operating experience in the tech private equity industry. The firm is building an operating and portfolio management model that is differentiated in its market segment and will help drive value to its portfolio companies. To learn more about Resurgens and its investment strategy, please visit www.resurgenstech.com.