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RainKing Solutions Receives Investment from Spectrum Equity and Announces New CEO

Enables Growth and Investments in RainKing Platform
Longtime CoStar Group Executive John Stanfill Named CEO

(Bethesda, MD, October 13, 2015) – RainKing Solutions, the leading provider of sales intelligence information on over 500,000 technology, marketing and finance professionals in North America and Europe, today announced that it has received a $67 million investment from Spectrum Equity, a leading growth equity firm.  The equity investment will allow RainKing to continue to provide world-class service to its existing customers, bolster its industry-leading database in North America, Europe and globally through a new G2000 offering, and enable the Company to make significant investments across the organization to position the company for future growth.

RainKing provides rich sales intelligence on nearly 50,000 mid- to large-size organizations in North America and Europe, as well as detailed information about the decision makers working at each of these organizations.  RainKing’s software allows customers to perform detailed analysis across this rich dataset to uncover the best prospects and then target the right decision makers at every organization.  RainKing’s research team also uncovers more than 1,200 new, actionable spending initiatives – called InsideScoops™ – which are published to customers every business day.  Customers access RainKing through a simple SaaS application, and can easily integrate data and intelligence seamlessly with Salesforce, Microsoft Dynamics, Marketo, Eloqua and other platforms.

In conjunction with the equity investment, John Stanfill will assume the title of Chief Executive Officer effective immediately.  Most recently an executive officer and the Senior Vice President of Sales & Customer Support at CoStar Group (NASDAQ: CSGP), John held numerous senior roles at the organization over 19 years.  John’s contributions were instrumental in CoStar’s growth from $2 million in revenue when he joined the company in 1995, to nearly $600 million and a market capitalization of over $5 billion when he left in 2014.  John was most recently managing a team of over 425 sales and support professionals across the globe.

“RainKing has been on the leading edge of providing outstanding sales intelligence information since 2008 and with the investment and support of Spectrum Equity, we will accelerate the development and delivery of our robust product and data pipeline,” said Stanfill.   “We look forward to supporting our clients, which include the tech industry’s largest and fastest growing companies, by providing them with the most accurate, comprehensive and verified information on IT, marketing and finance professionals available in the market today.”

In connection with the transaction, Mike Farrell and Jeff Haywood, Principals of Spectrum Equity, and Chris Mitchell, a Managing Director of Spectrum Equity, have joined RainKing’s Board of Directors.

“We’ve had the opportunity to get to know both John and the rest of the RainKing team over a multi-year period and are thrilled to be partnering with a world class management team as we help to support their continued growth,” said Mike Farrell of Spectrum Equity.  “Sales and marketing professionals are overwhelmed with data today.  RainKing’s proprietary, highly accurate data accumulated over a nearly 10-year period allows customers to find the best prospects, target the most likely buyer within an organization and know what to say when they reach them.  This ability to cut through the noise is incredibly valuable to any vendor selling into the IT market today.”

Raymond James & Associates served as financial advisor to RainKing on the transaction.

About RainKing
RainKing provides rich sales intelligence on nearly 50,000 mid- to large-size organizations in North America and Europe, as well as detailed information about the decision makers working at each of these organizations. RainKing’s software allows customers to perform detailed analysis across this rich dataset to uncover the best prospects and then target the right decision makers at every organization. RainKing’s research team also uncovers more than 1,200 new, actionable spending initiatives – called InsideScoops™ – which are published to customers every business day. Customers access RainKing through a simple SaaS application, and can easily integrate data and intelligence seamlessly with Salesforce, Microsoft Dynamics, Marketo, Eloqua and other platforms.

About Spectrum Equity
Founded in 1994 with offices in Boston and San Francisco, Spectrum Equity is a leading growth equity firm providing capital and strategic support to innovative Internet, software and information services companies. Representative investments include Ancestry.com, BATS, GrubHub, lynda.com, Passport Health, SurveyMonkey, Teachers Pay Teachers, Verafin and WeddingWire. For more information, including a complete list of investments, visit www.spectrumequity.com.
 

Media Contacts
For RainKing:

Sam Cravens
RainKing
866-592-7122
 

For Spectrum Equity:

Matt Benson / David Isaacs
Sard Verbinnen & Co
212-687-8080 / 415-618-8750