TimeTrade Partners with Private Equity Firm Clearhaven Partners in Majority Acquisition
TEWKSBURY, Mass., May 12, 2020 /PRNewswire/ -- TimeTrade Systems, the leading provider of enterprise scheduling software, announced today that it recently received a majority investment from Clearhaven Partners, a Boston-based software-focused private equity firm, and has appointed software veteran William Clark as Chief Executive Officer. Financial terms were not disclosed.
TimeTrade's SaaS solutions simplify the complexities around large-scale enterprise scheduling between a company and its customers in order to create high quality, frictionless customer interactions across virtual and physical appointment channels. Founded in 1999, TimeTrade defined the business appointment scheduling category and now deploys its best-of-breed, cloud-based software for more than 500 enterprises and more than 10,000 businesses. TimeTrade's Scheduler software has enabled more than 750 million appointments across many industry verticals including banking, financial services, retail, technology, healthcare and professional services.
Clearhaven Partners is a lower middle market technology-focused private equity firm, based in Boston. Clearhaven was founded by an investor-operator team for the exclusive purpose of partnering with differentiated, growing software and technology companies. Clearhaven works closely with its portfolio companies to accelerate value creation and help companies realize their full potential.
In conjunction with Clearhaven Partners' investment, William Clark has been appointed Chief Executive Officer of TimeTrade. Bill Clark is a highly accomplished software company executive who brings more than 30 years of experience in building market-leading organizations and driving growth. He previously served as CEO at Savi Technology, a Lockheed Martin subsidiary and later independent software company, CMO at Deltek, an enterprise software provider for professional service firms, and CMO at Hyperion Solutions, the category creator and industry leader in Analytic Application software.
"I'm excited to be leading TimeTrade and to build upon the Company's strong foundation and long-standing leadership position in enterprise appointment scheduling. In addition to the strength of the business itself, the partnership with Clearhaven Partners was a key driver of my interest in joinng the Company and I look forward to working with Clearhaven and the Board to continue to build our company and deliver value to our customers."
Bill Clark continued, "We want to thank Gary Ambrosino, TimeTrade's outgoing CEO, for his stewardship of the business over the past five years and for his continuing support of the Company. We wish Gary well in his future endeavors."
Michelle Noon, Managing Partner and Co-Founder at Clearhaven Partners and Chairman of the Board of TimeTrade commented, "We are thrilled to partner with TimeTrade, Bill Clark and the entire management team through its next phase of growth and continued success. In any environment, we seek to partner with high quality software businesses with a proven track record of delivering customer value. In the current environment, sensitive to the major disruptions to everyday life faced by all, we have been extraordinarily impressed with TimeTrade's people and its solutions' ability to reduce the burden for businesses seeking to schedule seamless interactions with their customers and constituents, whether through virtual or physical channels."
Kevin A. Wood, Operating Partner and Co-Founder at Clearhaven Partners and member of the TimeTrade Board continued, "TimeTrade exemplifies the kind of business with whom we look to partner to accelerate growth. As a long-standing market leader with a robust and scalable technology platform and significant continuing market opportunity to address mission-critical scheduling activities for its customers, we look forward to working closely with TimeTrade to achieve even greater success together."
In addition to TimeTrade's enterprise and CRM-based SaaS offerings, the Company has been highly responsive to market needs for increased customer engagement across virtual channels. As a result of COVID-19, the Company has worked with dozens of essential and non-essential businesses over the past several months to rapidly implement TimeTrade's Scheduler solution in banking, retail, healthcare and other industries. The result has been a streamlined way for TimeTrade's customers to schedule virtual and physical interactions with their customers, with implementations taking just days.
TimeTrade CEO Bill Clark commented, "In the early days of my involvement with the Company since Clearhaven's acquisition, I've seen first-hand how powerful TimeTrade's solutions are for its customers. While we have addressed many COVID-related scheduling needs in recent weeks, the power of TimeTrade's Scheduler software will provide continuing benefit to our customers long after we return to the next normal."
About Clearhaven Partners
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