Markham, ON (September 17, 2014) – Doxim, Inc., a leading provider of Customer Communications Management (“CCM”) software to the financial services industry, announced today that it has entered into a definitive agreement with Strattam Capital, LLC, a technology specialist private equity firm, under which Strattam will take a majority stake in the company. Strattam is investing in partnership with Doxim’s current management team, led by Founder and CEO Chris Rasmussen.
Strattam will buy a majority of Doxim’s shares and provide growth capital to fund Doxim’s strategic initiatives, including expansion of the company’s product and service offerings and extension of its geographic presence. Mr. Rasmussen and the rest of Doxim’s leadership team will remain in their current positions. The financial terms of the transaction were not disclosed.
Doxim provides a software platform used by more than 500 financial institutions to communicate critical business information to more than six million end customers. Doxim’s flexible and scalable multi-tenant CCM platform provides cost-effective solutions that meet the needs of a range of enterprise clients. The company’s CCM suite includes client onboarding, statement composition, archiving, and content management.
“This transaction is a wonderful strategic development for Doxim, our customers, and our employees,” said Chris Rasmussen, Founder and CEO of Doxim. “Over its 14-year history, Doxim has developed into a leading software provider for the Canadian financial services industry. We believe the Strattam team’s sector-focus and extensive industry experience make this partnership ideal for supporting our plans to expand the products and services we offer. We look forward to working together with Strattam as we enter the next phase of the company’s growth.”
The CCM market is growing robustly as financial services firms seek to present information to customers in rich, engaging ways and, increasingly, in electronic formats. In addition, evermore stringent regulatory changes are mandating more frequent and comprehensive client reporting, which is accelerating the demand for CCM solutions. Doxim’s subscription-based software integrates with customers’ online portals, offering a seamless communications platform to enhance the relationships Doxim’s customers have with their clients, from the inception of the account opening process through the entire customer lifecycle.
“Chris and his team care deeply about solving problems for their bank, credit union and wealth management customers, and they have grown Doxim by delivering on the promise of reliable, easy-to-use tools to improve the customer experience,” said Bob Morse, Co-Founder and CEO of Strattam Capital. “We are excited to help them capitalize on the many growth opportunities before them – all with an unwavering focus on delivering best-in-class solutions for their customers.”