Boston-based private equity firm Great Hill Partners has announced plans to acquire Zoom Information Inc., (ZoomInfo) a Waltham, Mass.-based business to business (B2B) data provider.
ZoomInfo was launched in 2000 by serial entrepreneur Yonatan Stern, who is now the tech firm’s Founder, Chief Executive Officer and Chief Scientist. The company is a SaaS provider which sells its customers access to over 222 million professional profiles and 9.3 million business profiles. Its massive database of information about people and organizations is paired with sales and marketing solutions intended to help customers drive profitable growth.
Great Hill Partners, which targets high-growth, mid-market companies, has raised over $5 billion in commitments since its founding in 1998. The private equity shop invests in companies across industries including Internet, financial technology and information services, and typically makes investments between $25 million and $200 million.
As part of the deal, in which financial terms were not disclosed, Great Hill Partners managing partner Christopher Gaffney will join ZoomInfo’s board of directors. Gaffney will bring to ZoomInfo over 30 years of industry knowledge and experience. With its new partner, the company will continue to focus on improving and building out its core data assets, while doubling down on product innovation in order to accelerate growth and maintain its competitive advantage.
“We are enthusiastic about our new investment in ZoomInfo,” said Gaffney. “The company is growing very fast while maintaining a high level of profitability, a rare combination that attests to the quality of its products, data, and employees. In the evolving market of data driven solutions for sales and marketing, we see a significant growth opportunity for ZoomInfo, and trust that with its current track record, strong product innovation and efficient operations they will continue to dominate the market.”