{"id":2820,"date":"2022-12-08T23:38:37","date_gmt":"2022-12-08T23:38:37","guid":{"rendered":"https:\/\/palladiumcapital.com\/?p=2820"},"modified":"2022-12-10T19:44:04","modified_gmt":"2022-12-10T19:44:04","slug":"palladium-serves-as-sole-placement-agent-for-38400000-financing-of-darwin-cx","status":"publish","type":"post","link":"https:\/\/www.palladiumcapital.com\/palladium-serves-as-sole-placement-agent-for-38400000-financing-of-darwin-cx\/","title":{"rendered":"Palladium Serves as Sole Placement Agent for $38,400,000 Financing of Darwin CX"},"content":{"rendered":"

\"\"<\/a>NEW YORK, NY, December 8th, 2022 \u2013 Palladium Capital Group, LLC, today announces that it has served as sole placement agent for Darwin CX<\/a> (“DCX”) for its $38.4M USD<\/span> funding. The funding was co-led by\u00a0Toronto<\/span>-based First Ascent Ventures and\u00a0California<\/span>-based Felicitas Global Partners.\u00a0 Additional funding was provided by\u00a0New York<\/span>-based Metropolitan Partners Group and\u00a0Liam Lynch<\/span>.<\/p>\n

“Darwin<\/span>\u00a0is on its ascent to establish itself as the industry leader thanks to our strong culture led by dedicated employees and supportive partners,” said DCX Executive Chairman and lead investor\u00a0Liam Lynch<\/span>. “We’re thrilled to add these experienced and savvy B2B SaaS investors led by\u00a0Richard Black<\/span>\u00a0and\u00a0Tony van Marken<\/span>\u00a0at First Ascent Ventures,\u00a0Bonar Chhay<\/span>\u00a0at Felicitas Global Partners, and\u00a0Max Segal<\/span>\u00a0at Metropolitan Partners Group, to propel our next stage of growth.”<\/p>\n

“This funding from top-tier investment groups accelerates\u00a0Darwin’s<\/span>\u00a0mission to serve our clients with tools and capabilities to grow their subscriber bases and save up to half of their fulfilment and marketing costs,” said\u00a0Darwin<\/span>\u00a0co-founder and CEO Laas Turnbull. “This funding means we can confidently scale our operations, build strategic channel partnerships, and continue investing in our very ambitious product roadmap, led by\u00a0Michael Smith<\/span>, our co-founder, CTO, and Head of Innovation.”<\/p>\n

DCX is an industry-leading software-as-a-service platform that leverages real-time data to increase acquisition and retention rates while decreasing marketing spend for publishers and membership-based organizations. It enables data-driven transformations for brands that often have sophisticated requirements for customer acquisition and retention, reporting, and customer service.\u00a0\u00a0DCX integrates seamlessly with third-party applications and fulfillment providers.\u00a0 DCX delivers a far superior customer experience compared to the industry’s legacy technology and processes\u2014the driving motivation behind another recent partnership announcement with publishing powerhouse a360 Media.<\/p>\n

“Numerous industries that relied on legacy mainframe-based technology\u2014costly and rigid\u2014have been disrupted by cloud-based systems like\u00a0Darwin<\/span>,” said\u00a0Richard Black<\/span>, co-founder and Managing Partner of First Ascent Ventures. “This partnership will ensure that\u00a0Darwin’s<\/span>\u00a0cloud-based technology will replace the legacy mainframe-based technology still used in the subscription economy.”<\/p>\n

DCX has scaled clients by a factor of 10 in the past 18 months, adding new customers and channel partners across\u00a0North America<\/span>. Through a mix of organic growth and acquisition, DCX will continue in its drive to become a major voice in the subscription economy, which has grown more than 23% in the past year to\u00a0$51 billion<\/span>. By 2025, it is expected to be a\u00a0$141-trillion<\/span>\u00a0economy.<\/p>\n

“At Metropolitan, we see a large number of investment opportunities in the lower and middle market\u2014Darwin stands out given its leadership team and growth strategy,” said Metropolitan Vice-President\u00a0Max Segal<\/span>.\u00a0 “Partnering with First Ascent Ventures and Felicitas to support\u00a0Darwin<\/span>\u00a0is a winning combination.”<\/p>\n

The transaction team was led by Chief of Staff Toby McCoy, CFO\u00a0Jon Soucy<\/span>, and General Counsel\u00a0Chris Bedor<\/span>\u00a0at\u00a0Darwin<\/span>; Senior Associate Noah Chaikof at First Ascent Ventures; Director\u00a0Calvin Marks<\/span>\u00a0and Associate Cody Odening at Felicitas Global Partners, with support from\u00a0David McQuaid<\/span>,\u00a0Bruce Winans<\/span>, and\u00a0Alfonso Alejo<\/span>\u00a0at Compass Securities\/Palladium Capital Group;\u00a0Britt Rogers<\/span>\u00a0at Akin Gump Strauss Hauer & Feld;\u00a0Kevin Kilduff<\/span>\u00a0at Kilduff Law;\u00a0Aaron Rothman<\/span>\u00a0at K&L Gates; and\u00a0Rebecca Chilton<\/span>\u00a0at Nelson Mullins.<\/p>\n

About Darwin CX<\/b>
Darwin CX<\/a><\/u>\u00a0is a transformative SaaS platform at the leading edge of the subscription economy serving clients on 3 continents. It helps brands accelerate acquisition and retention\u2014and increase loyalty\u2014through innovative and customized check-out pages, targeted audience offerings, real-time A\/B testing, and best-in-class analytics. The\u00a0Darwin<\/span>\u00a0platform enables clients to have complete freedom and control over customer data in order to tailor the best possible customer experiences.\u00a0\u00a0Darwin provides a full suite of fulfillment services to its clients through its integrations with direct mail, lettershop, in-bound mail processing, and call center partners.<\/p>\n

About Metropolitan
<\/b>Metropolitan Partners Group<\/a>\u00a0is a private investment firm that provides asset-based debt capital to non-sponsored situations in the domestic lower middle market space, unconstrained by industry or asset class. Metropolitan works directly with business owners and management teams to grow their balance sheets and build lasting value with its tailored capital solutions, while aiming to provide downside protection to its investors.<\/p>\n

About First Ascent Ventures<\/b>\u00a0\u00a0
Founded in 2015 by\u00a0Richard Black<\/span>\u00a0and\u00a0Tony van Marken<\/span>,\u00a0First Ascent Ventures<\/a><\/u>\u00a0invests in early-stage, emerging, and growth-oriented enterprise software companies in the information technology sector. The First Ascent Ventures team bring deep bench strength as operating executives and investors having built and invested in significant, global enterprise software companies.<\/p>\n

About Felicitas Global Partners<\/b>\u00a0\u00a0
Felicitas Global Partners<\/a><\/u>\u00a0is an alternatives investment firm that manages portfolios of secondaries, private credit, and private equity investments. Felicitas manages capital from an institutional base of asset management firms, foundations, family offices, and private wealth managers, with approximately\u00a0$700M<\/span>\u00a0Assets Under Management.<\/p>\n

For further information: Alea Sarkar, 1-647-400-1455,\u00a0alea@darwin.cx<\/p>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, NY, December 8th, 2022 \u2013 Palladium Capital Group, LLC, today announces that it has served as sole placement agent for Darwin CX (“DCX”) for its $38.4M USD funding. The funding was co-led by\u00a0Toronto-based First Ascent Ventures and\u00a0California-based Felicitas Global Partners.\u00a0 Additional funding was provided by\u00a0New York-based Metropolitan Partners Group and\u00a0Liam Lynch. “Darwin\u00a0is on […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"_links":{"self":[{"href":"https:\/\/www.palladiumcapital.com\/wp-json\/wp\/v2\/posts\/2820"}],"collection":[{"href":"https:\/\/www.palladiumcapital.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.palladiumcapital.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.palladiumcapital.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.palladiumcapital.com\/wp-json\/wp\/v2\/comments?post=2820"}],"version-history":[{"count":2,"href":"https:\/\/www.palladiumcapital.com\/wp-json\/wp\/v2\/posts\/2820\/revisions"}],"predecessor-version":[{"id":2823,"href":"https:\/\/www.palladiumcapital.com\/wp-json\/wp\/v2\/posts\/2820\/revisions\/2823"}],"wp:attachment":[{"href":"https:\/\/www.palladiumcapital.com\/wp-json\/wp\/v2\/media?parent=2820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.palladiumcapital.com\/wp-json\/wp\/v2\/categories?post=2820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.palladiumcapital.com\/wp-json\/wp\/v2\/tags?post=2820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}