Funds advised by private equity firm Apax announced an agreement to acquire CyberGrants from Waud Capital Partners.
CyberGrants is a provider of Software-as-a-Service (SaaS) solutions for corporate social responsibility (CSR), employee engagement and volunteer management.
It helps foundations and companies, including more than half of the Fortune 100 constituents, to activate their charitable causes and measure their outcomes.
Its single platform solution connects 10mln employees and their employers with 650,000 not-for-profit organisations.
Apax said CyberGrants is “a unique platform investment” for the firm as it will work alongside the Apax Foundation, which focuses on grants and employee donations to enable social mobility in underserved communities.
“For over a decade, Apax and the Apax Funds’ portfolio companies have strived to achieve measurable ESG and CSR objectives, and we continue to look for ways to increase our positive impact on society and the environment,” said Jason Wright, partner at Apax.
“These initiatives are made easier with the help of companies like CyberGrants.”