1/1
NEWS
Autodesk to Acquire Pype
Lightning Partners Advises Pype in Transaction that Will Empower Autodesk Customers to Automate Traditional Manual Workflows with Artificial Intelligence and Machine Learning

​HERNDON, Va. & SAN RAFAEL, Calif., July 22, 2020 — Lightning Partners, a growth technology investment bank, served as the exclusive financial advisor to Pype, a provider of cloud-based solutions for automating construction project management workflows, in its signing of a definitive agreement to be acquired by Autodesk, Inc. (NASDAQ: ADSK).

The transaction will empower Autodesk customers with Pype’s suite of software, which leverages artificial intelligence and machine learning, by automating critical workflows to increase productivity and mitigate project risk.

​“Artificial intelligence and machine learning are impacting every industry as companies seek a competitive edge through automation and efficiency,” said Dan Williams, Managing Partner, Lightning Partners. “This transaction is another example of how Lightning Partners delivers outstanding outcomes by unlocking the synergies between innovative companies like Pype that employ AI and ML technology with established industry leaders like Autodesk.”

​“The Lightning Partners team was a tremendous asset to us as we navigated the transaction process, said Sunil Dorairajan, CEO and co-founder of Pype. “They acted as an extension of our team, kept the process on track, and helped us think strategically through key decisions.”

​Headquartered in Herndon, Virginia, Pype was founded in 2015 by Sunil Dorairajan and Karuna Ammireddy.

​​The transaction is subject to customary closing conditions and is expected to close during Autodesk’s third quarter of fiscal 2021, ending October 31, 2020. Terms of the transaction were not disclosed.

About Lightning Partners
Lightning Partners provides direction and advice to growth technology companies and their Boards of Directors on M&A, capital raising and strategy that drive significant shareholder value. The firm consistently and tenaciously delivers optimum results for entrepreneurs, growth companies and their investors, including industry leading valuations, transaction terms and close rates. For more information, visit www.lightningpartners.com.

About Pype
Pype is the construction industry's first SaaS provider for submittal log management and project closeout. Over 40% of the ENR top 400 use AutoSpecs, Closeout, and SmartPlans to provide unprecedented insights on spec and closeout data, help teams extract actionable information from specifications and plans to close communication gaps between design, construction, and operations teams, and ensure a higher level of quality assurance, efficiency, and risk management on projects coast-to-coast. For more information, visit www.pype.io/.

About Autodesk
Autodesk makes software for people who make things. If you’ve ever driven a high-performance car, admired a towering skyscraper, used a smartphone, or watched a great film, chances are you’ve experienced what millions of Autodesk customers are doing with our software. Autodesk gives you the power to make anything. For more information visit autodesk.com or follow @autodesk.​

Contact:
info@lightningpartners.com

 

###

Lightning Partners Advises Storyblocks on Their Acquisition By Great Hill Partners
Transaction Positions Storyblocks to Expand Access to Digital Content and Collaboration Tools

ARLINGTON, VA & BOSTON, MA, June 29, 2020 — Lightning Partners, a growth technology investment bank, served as the exclusive financial advisor to Storyblocks, the first and largest subscription-based stock media company, in its acquisition by Great Hill Partners, a leading private equity firm.

”This highly competitive process shows that there is still strong demand for growing, innovative, recurring revenue businesses with experienced leadership teams,” said Dan Williams, Managing Partner, Lightning Partners. “This industry shaping transaction is another example of how Lightning Partners delivers best in class outcomes for tech companies and their investors.”

“The Lightning Partners team was outstanding,” said TJ Leonard, CEO, Storyblocks. “They did an amazing job preparing us, guiding us and supporting us throughout the entire transaction process.  The team did an extraordinary job digging deeply into our business to make sure we were well positioned for success.  They created many attractive options for us to consider for our next stage of growth, and we couldn’t be happier with the results they delivered.”  

“Lightning Partners absolutely nailed the execution on this transaction,” said Carter Griffin, General Partner, Updata Partners.  “Their attention to detail and coaching of the team was evident throughout.  We thank them for their hard work in delivering a great outcome.”

This transaction highlights continued interest in the ongoing convergence of content, collaboration and workflow tools that is impacting almost every industry. In addition, it demonstrates that despite the global pandemic M&A transactions can be successfully managed in a virtual manner.

Storyblocks was founded in 2009 by Joel Holland. Investors included Updata Partners, North Atlantic Capital and QED Investors. Storyblocks has been recognized on the Inc. 5000 list seven consecutive years.

Cooley LLP provided legal advice to Storyblocks on the transaction.

Terms of the transaction were not disclosed.

 

About Lightning Partners
Lightning Partners provides direction and advice to growth technology companies and their Boards of Directors on M&A, capital raising and strategy that drive significant shareholder value. The firm consistently and tenaciously delivers optimum results for entrepreneurs, growth companies and their investors, including industry leading valuations, transaction terms and close rates. For more information, visit www.lightningpartners.com.

About Storyblocks
Built on the belief that all stories deserve a chance to be told, Storyblocks provides video, audio and images through its unique subscription model. By offering unlimited downloads and continually adding fresh content, Storyblocks challenges the paradigm that your ambitious creative vision requires deep pockets. The company was recently named as one of Washington D.C.’s Top Workplaces by The Washington Post, and among the Best Places to Work by the Washington Business Journal.  Headquartered in Arlington, Virginia, For more information, visit www.storyblocks.com.

About Great Hill Partners
Great Hill Partners is a Boston-based private equity firm targeting investments of $25 million to $500 million in high-growth companies across the consumer, digital infrastructure, financial technology, healthcare, and software sectors. Over the past two decades, Great Hill has raised nearly $8 billion of commitments and invested in more than 75 companies, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies scale. For more information, visit www.greathillpartners.com.

Contact:
info@lightningpartners.com

 

###

“To say I’m impressed with the work Dan Williams and the Lightning Team did would be a massive understatement. I’ve worked with a number of banks over the years and Lightning Partners' diligent approach and work ethic blows them all out of the water. I look forward to recommending Lightning Partners and hopefully using them again in the future!

Joel Holland, Founder, Storyblocks

Lightning Partners, LLC

415.980.1885
info@lightningpartners.com

© 2020 Lightning Partners - All Rights Reserved.