Womble Bond Dickinson represented Frontier Growth, a Charlotte-based growth equity firm specializing 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 attorneys Tara Cho, Yohana Mihreteab, Jake Rifkin, Josh Rifkin, 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.”
Accredible is the industry-leading digital credentialing platform that securely issues, manages, tracks, and verifies over 75 million career-advancing credentials globally. Accredible integrates with learning software, including Canvas, D2L Brightspace, Kajabi, Kryterion Webassessor, Moodle, Thinkific, and more. Over 2,000 leading universities, associations, and technology companies such as Google, Skillsoft, Slack, Chartered Banker Institute, University of Cambridge, AMPP, Hootsuite, IEEE, Cengage, MIT, Rutgers, UC Berkeley, AMBA, and The Digital Marketing Institute rely on Accredible to create, deliver, and manage digital certificates and open badges. To learn more, visit accredible.com.
Frontier Growth provides support for growth – both investment capital and operational expertise – primarily for software companies with $5 million to $30 million in revenue. In recent years, the Womble Bond Dickinson team has represented Frontier through numerous other investments, recapitalizations and divestitures.
About Womble Bond Dickinson
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