Funding and expertise will fuel growth and advance forecasting, transparency, and data analytics company’s mission to help K-12 schools and municipalities make smart decisions
September 28, 2021, Essex, MA – Essex Bay Capital today announces their launch to market and closes its first platform investment in Munetrix. Essex Bay is a lower middle market investment firm focused on private equity and corporate growth strategies founded by Franklin Foster and Yash Singh, based in US East and West Coasts respectively.
Essex Bay’s focus is on companies in technology/software, medical devices/life sciences, industrials, business services and consumer products spaces. Essex Bay looks to partner with management teams to significantly increase the size and profitability of businesses organically and through acquisitions.
Franklin Foster and Yash Singh bring extensive experience in these realms. Prior to forming Essex Bay, Franklin was Managing Director at Audax Private Equity, a middle-market private equity firm which invested ~$6Bn in equity during his tenure. As part of the investment team, Franklin led the identification and due diligence of platform and add-on acquisitions and was an active board member helping develop and implement growth strategies. His experience encompasses manufacturing, technology, business services, industrials, and healthcare industries. Yash’s experience includes serving as President at Analogic, overseeing a $150M P&L focused on MRI and robotics, and Executive Vice President at Harvard Biosciences where he led an $80M P&L focused on cellular, molecular and physiology technologies. His experience spans healthcare, life sciences, software, industrials and manufacturing industries and includes successful execution of organic and acquisition growth strategies.
Munetrix is a leading provider of decision support software that delivers financial forecasting, benchmarking, transparency, and student and teacher performance analytics. Munetrix empowers municipal leaders, school administrators and finance leaders to make informed financial, strategic, and academic decisions. The Munetrix platform has achieved national recognition, winning a 2021 CODiE award, and EdTech Breakthrough Award, and ongoing GovTech100 recognition.
The investment allows Munetrix to expand resources in product development, customer support and sales. Essex Bay will continue to support Munetrix’s unique expertise, customer service, and their extensive partnerships with organizations like ed-fi alliance and data integrations with entities such as Michigan Datahub, which provides best practice guidance and resources to clients.
Franklin Foster, Partner at Essex Bay Capital said: “Munetrix’s reputation as a leader and innovator in financial planning and academic analytics is well-earned. There is strong demand for solutions it brings to market and we look forward to partnering with the Munetrix team to continue its fast-paced growth and support its mission, culture and customers.”
“Munetrix is mission-driven, delights customers and helps hundreds of K-12 school districts and municipalities with financial planning, budgeting, transparency and academic outcomes” said Buzz Brown, CEO of Munetrix. “We are excited to partner with Essex Bay who understand and appreciate our core values, and will support our vision for product innovation and growth, both organic and through acquisitions.”
About Essex Bay Capital
Essex Bay invests in small to mid-sized private companies, partnering with management to accelerate growth. We target platform companies of $1-10M EBITDA at close, or $1-10M ARR for SaaS businesses. With 20+ years of investing experience, and 70+ completed acquisitions, our team brings more than just capital to the equation. We are long-term investors, focused on creating sustainable value. We build companies, organically and through add-on acquisitions to become market leaders. Partnership and alignment are at the core of everything we do. We pride ourselves on being transparent and supportive with resources, insight and expertise to create win-win opportunities for our partners.
Munetrix, among the nation’s largest aggregators of municipal and school district data, promotes municipal wellness and sustainability through its cloud-based data management tools and proprietary performance analytics applications. In partnering with Munetrix, municipalities and school districts are able to manage their data and access cost-effective products and advisory services to make meaningful and reliable budgets, financial projections, academic achievement metrics, trend reports and better-informed forward-looking decisions. More than 300 clients across the country use Munetrix’s tools to make more informed financial and business decisions and improve student success.