The Sky’s the Limit for the Riverside Company’s Latest Investment in Cloudpermit

The Riverside Company, a global private investor focused on the smaller end of the middle market, has invested in Cloudpermit, a leading community development software company based in North America.

With the leading SaaS platform in the government technology space, Cloudpermit streamlines the community development approval process for local governments, citizens and other stakeholders. The company offers multiple cloud-based products to promote efficiency and transparency in building permitting, inspections, licensing, code enforcement, planning, zoning and other areas of community development.

“Cloudpermit is recognized as a market leader and innovator in the government technology sector, and the company is well-positioned to continue its rapid growth,” said Riverside Micro-Cap Managing Partner Loren Schlachet. “We are eager to explore the new opportunities this investment will unlock and are committed to supporting Cloudpermit’s continued growth.”

This investment is another example of Riverside’s expertise in working with Software and IT companies. The firm has completed over 270 investments in this specialization and has a team of global experts dedicated to growing these types of organizations.

"We are committed to empowering local governments with our transformative community development platform so we can drive positive change and improve citizen experience,” said Cloudpermit CEO Jan Pawli. “We’re confident that The Riverside Company is an excellent choice to support us to achieve greater success and growth. This investment will enable us to broaden our impact, support countless forward-thinking communities and provide cutting-edge technology to our clients.”

“We have been an active investor in the govtech market for the last decade and are excited to have formed this partnership with Cloudpermit,” said Riverside Micro-Cap Senior Partner Joe Manning. “During our partnership, we anticipate expanding product offerings and establishing the foundation for new product initiatives, including adding enhanced building information modeling, artificial intelligence solutions and public works functionality for governments across the U.S., Canada and Finland.”

Working with Schlachet and Manning on the deal were Vice President Ken Johnson, Assistant Vice President Nancy Graham, Senior Associate Jeff Abboud, Analyst Nik Kassogue, Operating Partner Pete Khanna and Finance Director Chrissie Yim. Origination Managing Director, Head of European Origination, Ali Al Alaf and Regional Director Will Davis sourced the deal for Riverside.