Assure acquires startup accelerator BoomStartup to provide comprehensive platform for private investment market
Assure, a provider of fund administration and transaction services for the private investment marketplace, announced today that it has acquired mentorship-driven seed accelerator BoomStartup to offer a comprehensive platform to founders, companies, investors and deal organizers with a full suite of solutions and services applicable throughout the entire venture life cycle from idea to exit.
Founded in 2010 by John Richards, Jon Bradshaw, and Robb Kunz, BoomStartup is an Utah-based mentorship-driven seed Accelerator focusing its efforts on providing money, mentors, and markets for its energetic tech entrepreneur participants. In 2014, it was rated the #12 Accelerator in the United States. Since its inception in 2010, BoomStartup has shepherded over 170 companies through the rigors of launching a company, helping 72% of them get funded at levels from $500K – $1.5 million.
In conjunction with the transaction, Assure Inc. has created a new business unit, Assure Technology. Robb Kunz, former BoomStartup Founder and CEO has been appointed to the role CEO of Assure Technology.
The primary rationale for the launch of Assure Technology and acquiring BoomStartup is to broaden Assure’s reach and position the company to deliver better solutions to customers. “With a dedicated business unit focused on technology, we will be able to provide a broader, higher quality product line and will be able to develop and go to market faster,” said Jeremy Neilson, co-CEO of Assure. “Additionally, Assure Technology will expand our offering outside of professional services provided by Assure, giving companies across an expanded market the opportunity to access and leverage our proven solutions.”
Assure Technology has acquired the IP from BoomStartup, which includes the BoomStartup Online software platform, content from the BoomStartup Online University for Startups, as well as other proprietary tools, data and processes. Assure Technology will focus on the continued development of Assure’s tech-driven private markets platform and its flagship product, Glassboard, with the dual mandate of driving operational efficiencies internally and delivering a SaaS solution to every customer across the industry.
The BoomStartup acquisition allows Assure to provide accelerator services to a greater number of startups and also offer affordable, professional back-office services such as legal, bookkeeping, accounting and taxes to these companies. With BoomStartup’s SaaS-based platform integrated into Assure’s software offering, Assure will be able to leverage BoomStartup’s extensive database of 4,000 entrepreneurs and 400 investors/mentors to establish a platform that touches all of the life-cycle participants. Assure is committed to assisting its clients and users investing in the world’s best startups and companies, through a single seamless application, Glassboard.
“Assure’s goal is to bring the front and back-office together and offer a complete solution for all private transactions. Acquiring BoomStartup allows us to do this for early-stage companies, and the incubators and investors that focus on these startups,” co-CEO Katie Neilson said. “With the move to create Assure Technology and Assure, we are widening our footprint to serve companies from the very beginning of their life-cycle to the end.