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Venture Capital News: SMB Suite Bags $3M Round

IRVING, TX, SMB Suite, which offers small and medium sized businesses hosted ERP, CRM and eCommerce solutions, raised $3M from Meritage Funds.
Meritage Funds announces the latest addition to our Meritage Fund III Growth Equity portfolio; SMB Suite. As the Company's name indicates, SMB Suite offers small and medium sized businesses a fully-integrated 'suite' of hosted ERP, CRM and eCommerce solutions. The Company's solutions are built using the Microsoft Dynamics suite of applications including Dynamics GP ERP (financials), CRM, Office, SharePoint, Live Meeting and also include Email, web-based eCommerce, and from outside of the Microsoft Dynamics suite. These Microsoft solutions are typically configured, provisioned, hosted and delivered by SMB on behalf of the customer and priced in a subscription (as opposed to traditional term 'license') model.

Meritage is the Company's first and only institutional investor. However, we are pleased to have Chris MacFarland, CEO of Masergy Communications (a former Meritage portfolio company) join us as an investor and Director of SMB Suite.

SMB Suite embodies many of the elements we look for in a growth stage investment. SMB has established itself as a leading provider of services in its category. Customers are drawn to the Company's solutions due to the ease, speed and simplicity with which they can be set up and the quality of service that SMB provides to its clients. Most importantly, SMB Suite offers its customers these capabilities for the lowest total cost of ownership available. The Company has consistently received accolades from customers and partners including recently being recognized by Microsoft's Central Region team as the Dynamics Cloud Partner of the year. The Company's solution set is mature, well defined and has a clear value proposition for customers.

What we like most about SMB Suite is its ability to deliver a broad array of SMB focused offerings from a unified operating, delivery and support platform. This enables SMB Suite to integrate applications and data across applications in ways that have historically been difficult. The unifying platform that stitches these historically 'stovepipe' applications together enables SMB Suite to maintain low operating costs, while delivering a incremental value-add to its customers.

Led by Founder and CEO, David Greer, the Company has a capable team who share the customer-centric values that have made SMB Suite a success already. David has attracted Matt Woodward, a long-time leader in the Dynamics group at Microsoft as President. Matt brings a wealth of product experience and relationships to strengthen SMB Suite's already strong relationship with Microsoft.

Our capital will be deployed to expand the Company's senior team and to fuel customer growth. Our work with SMB Suite will focus on strategic planning, and helping the Company to scale its already productive customer acquisition efforts. We're excited about the opportunity to work with the entire SMB Suite team and we have high expectations for what David, Matt and the entire team can accomplish using our capital as a catalyst.
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