Womble Bond Dickinson's US and UK lawyers represented Frontier Growth, a Charlotte-based growth equity firm specialising in support software companies, in connection with Frontier’s investment in Accredible, the world’s leading digital credentialing platform, based in Mountain View, California.
Partners D. Scott Anderson and Patrick Strubbe led a Womble Bond Dickinson team that represented Frontier in this successful investment. The multi-disciplinary, global WBD team also included Tara Cho, Yohana Mihreteab, Jake Rifkin, Josh Rifkin, Theresa Sprain and Mike Tobin in the U.S. and Bede Finnigan, Amy Galloway, Saba Mahmood, David Ridley, and Simon Watts in the UK.
The complex deal involved a strategic growth investment, and included participation from additional new and existing investors. Accredible officials say the financing will help the company meet growing demand for its platform from universities, associations, and tech companies.
In a press release, Accredible CEO and Co-Founder Danny King said:
“With the explosion of skills-based hiring and the global demand for workers to upskill and reskill, 2023 has been a true watershed moment for the digital credential industry. We’re hearing from education, training, and association leaders that digital credentials have evolved to become the primary credentialing format for high-stakes credentials and are now a ‘need to have’ to keep pace with the future of work and education. The momentum we’re seeing validates our belief that while achieving certifications should be tough, managing and growing programs shouldn’t be.”
The news follows Accredible recently being named to the 2023 Inc. 5000 list of America’s fastest-growing private companies.
In a statement, Frontier Growth Partner Andrew Lindner said:
“We are delighted to partner with Accredible in their journey to accelerate the immutable trend of digitalization of the credential market…This growth equity investment will enable the company to continue enhancing its line of credential products, offering even more value to their customers while providing an exceptional customer experience for the recipients of credentials.”