BOSTON — (BUSINESS WIRE) — June 20, 2019 — Silversmith Capital Partners (“Silversmith”) is pleased to announce that the previously announced acquisition of Digital Map Products (“DMP” or the “Company”) by LightBox has closed.
Located in Irvine, California with over 160 employees, DMP is a leading provider of location intelligence solutions for large enterprise and government customers including Zillow, Google, Apple, CBRE and the State of California. The Company’s vision of embedding location technology into everyday workflows has allowed its over 350,000 users to make informed decisions based on real-time geospatial intelligence. DMP joins LightBox, a company whose objective is to provide real estate professionals with greater transparency, efficiency and insight at every decision point. DMP joins other LightBox acquisitions including EDR and Real Capital Markets.
Silversmith led a management recapitalization of Digital Map Products in August 2016, backing co-founders Jim Skurzynski and Geoff Wade to fuel the next phase of DMP’s growth. During the partnership, the Company executed on several strategic initiatives, including executive team expansion, optimizing go-to-market strategy and outbound marketing, and completing two tuck-in acquisitions, all while maintaining consistent, profitable organic growth.
“The best thing I can say about Silversmith Capital Partners is they care the most about the last word – ‘partners’’, said DMP co-founder and CEO, Jim Skurzynski. “While the firm brought a lot to the table in terms of their expertise in helping to grow software and data analytics businesses, the most important thing they brought was being outstanding, supportive partners throughout DMP’s journey. While we weren’t looking to cut that journey short, we believe the opportunity to partner with LightBox and continue to build our vision in the market was too hard to pass up.”
“Our success is always derivative,” said Todd MacLean, Managing Partner of Silversmith. “Our goal is to partner with talented, driven entrepreneurs and then work tirelessly to support them however we can. When we are lucky enough to reach milestones like this, the result is almost always driven by having chosen our partners wisely. We are proud to have worked with Jim, Geoff and their team over the past two-and-a-half years in building DMP into a market leader and we wish them success as part of LightBox.”
Financial terms of the transaction were not disclosed. For more information on the transaction, refer to the press release issued by LightBox.
About Digital Map Products
Digital Map Products (DMP), based in Irvine, Calif., is a leading provider of cloud-based location intelligence solutions helping more than 350,000 business and government users across North America to make confident, data-driven decisions. DMP's Location Intelligence Platform offers map-based real estate applications including LandVision™, API access to mapping technology and location data via SpatialStream®, U.S. nationwide parcel and property data via SmartParcels®, and Canadian address points through CanMap®, all supported by a professional services team offering consulting and GIS data services. Today, the company's location intelligence platform is used by four out of the six top real estate websites, four out of the top five commercial brokerage firms, all 10 of the top home builder brands, more than 200 government agencies, and four of the largest gas and electric utility companies. DMP serves a global customer base with offices in the United States and Canada. For more information, visit http://www.digmap.com.
About Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $1.1 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. The firm seeks to invest $15 million to $75 million per company. Representative investments include ActiveCampaign, Centauri Health Solutions, Digital Map Products, Impact, LifeStance Health, MediQuant, Nordic Consulting Partners, and Validity. The partners have over six decades of collective investing experience and have served on the boards of numerous successful growth companies including ABILITY Network, Dealer.com, Liazon, Liberty Dialysis, MedHOK, Net Health, Passport Health, SurveyMonkey, and Yapstone. For more information, visit www.silversmithcapital.com.