A private investment company that provides venture capital and private equity to high-growth firms, Route 66 Ventures, LLC, has announced an investment of $10 million in a major provider of Software-as-a-Service (SaaS) and payment solutions in the health and wellness sector, Motionsoft.
Route 66 Ventures will be leading this Series B round of investment in Motionsoft.
Additionally, Motionsoft's Series A investor, Edison Partners, will be joining Route 66 as a Series B joint investor.
Pascal Bouvier, who brings over 2 decades of experience in investment banking in Europe and the U.S., and in running emerging high-growth technology and consumer-facing firms, implemented Route 66's due diligence and will be leading the investment.
CEO of Motionsoft, Al Noshirvani, said : 'In the last two years Motionsoft has achieved milestones that have made investors extremely confident in our projections for future growth. Motionsoft continues to experience rapid growth and development, which will be accelerated by the Series B investment round. We believe that the investment theses of both firms perfectly complement our value proposition, and we could not be happier that the investment will be spearheaded by our experienced partners at Route 66 and Edison Partners. Motionsoft will allocate a significant portion of this investment to expand sales and marketing operations.'
Motionsoft CEO Al Noshirvani said : 'We are also thrilled to have Route 66 partner Pascal Bouvier onboard at Motionsoft. His combined expertise as a veteran technologist and growth investor make him uniquely qualified to advise our successful growth and expansion.'
Bouvier added : 'Motionsoft's healthy, triple-digit growth is built on successful customer retention and a recurring revenue model, making the company an impressive addition to our portfolio. Route 66 is extremely confident in Motionsoft s current operations and leadership, as well as their growth potential in both the software and payments space. With the strategic counsel, growth experience, and value-added resources of Route 66, the partners at Route 66 and the executives at Motionsoft agree that this venture will be instrumental in maximizing Motionsoft s revenue, growth and development. We look forward to working with Motionsoft.'