08 Sep Bandon Partners is excited to announce the partial exit of Titan Cloud with Charlesbank Capital Partners
NASHVILLE, Tenn., Sept. 8, 2022 / PRNewswire/ — Titan Cloud, the nation’s leading software platform providing environmental and operational solutions for convenience stores, fuel carriers, and service providers, is pleased to announce that Charlesbank Technology Opportunities Fund, LP a fund managed by Charlesbank Capital Partners, has made a majority investment in the company. The funding will assist Titan in accelerating the expansion of its business both organically and through M&A. Charlesbank is an experienced middle-market private investment firm based in Boston and New York. Existing investor M33 Growth also made a significant investment into the business.
Titan Cloud provides industry-leading solutions for environmental compliance, fuel analytics, and facility management, so that clients can effectively manage risk and run efficient, profitable businesses. Entrusted by a customer base that includes the biggest names in the convenience retail, wholesale distribution, and commercial fleet markets, Titan’s software platform currently monitors and manages over 60,000 facilities across 700+ global customers.
“Charlesbank’s investment is a testament to our winning team, best-in-class products, and loyal customers,” said David Freese, CEO and CPO of Titan Cloud. “Their size, reputation, and expertise will enable us to broaden and deepen our GTM and product portfolio, ultimately serving customers better.”
“We rejoined this year’s Inc 5000 list of fastest-growing companies and have profitably grown more than 170% year over year,” adds Mr. Freese. “I want to thank all the employees, customers, family members, mentors, and investors who helped us get to this stage. In addition to Charlesbank, Titan Cloud will benefit from the continued support of M33. We are pleased to have the necessary financial and strategic resources for this next phase of growth.”
“David Freese and his management team have demonstrated a commitment to ongoing innovation and exceptional customer service that has made Titan the industry-leading compliance platform for retail and commercial fuel providers,” said Mayur Desai, Managing Director at Charlesbank. “We are delighted to partner with them and with M33 to help this terrific company build even better solutions and execute on its global growth strategy.”
“It’s been exciting to see Titan Cloud rapidly scale into the market leader,” said Brian Shortsleeve, Partner at M33 Growth. “Their cutting-edge software enables customers to consolidate their environmental, fuel, and maintenance data – regardless of equipment type – into one centralized platform. Titan customers quickly see dramatic productivity improvements and fast ROI. From our initial investment in 2018, it has been an honor to work with David Freese and his team, and I’m thrilled to continue this journey together with Charlesbank.”