Francisco Partners portfolio company NMI Announces Strategic Growth Investment from Insight Partners

Insight to partner with existing investors Francisco Partners and Great Hill Partners. Additional capital to accelerate NMI’s strategic initiatives, product development and growth opportunities.

SCHAUMBURG, IL AND SAN FRANCISCO, CA -- NMI, a leading global full commerce enablement technology company, today announced a significant new equity investment from New York-based global private equity and venture capital firm Insight Partners. Insight Partners joins existing investors Francisco Partners and Great Hill Partners. The company will continue to be led by Chief Executive Officer, Vijay Sondhi, and the current management team, who invested alongside Insight Partners, Francisco Partners, and Great Hill Partners.

NMI, which was acquired by Francisco Partners in 2017, processes more than $150 billion in payments annually and enables critical payment functionality for over 2,800 partners and over 250,000 merchants globally. The company provides flexible, modular solutions to create unique omni-channel payment solutions across e-commerce, unattended, retail and mobile payments.

“Throughout our partnership with Francisco Partners and Great Hill, NMI has successfully accelerated revenue growth, delivered product innovation, and strengthened our customer relationships,” said Vijay Sondhi, NMI CEO. “We are excited to welcome Insight Partners, a growth-oriented investor with deep integrated software and payments experience, as we expand our global footprint and deliver best-in-class solutions to our customers. With the support of our investors, we will reach a new level of scale, accelerate our acquisition strategy, and remain hyper-focused on our customers.”

Byron Lichtenstein and David Spiro, Principals at Insight Partners, said of the deal, “NMI is transforming the payment industry with one of the largest ecosystems of integrations, technical capabilities, and partner relationships. By unifying every point of payment engagement to deliver one view of the customer, NMI offers a flexible, interoperable platform that stands out in the fintech space. As NMI continues to scale globally, we’re excited to partner with their team to continuing accelerating growth leveraging their deep payment expertise and our Onsite ScaleUp and M&A capabilities.”

Peter Christodoulo, Partner, and Justin Chen, Principal at Francisco Partners, commented, “Since our investment, NMI has built an impressive track record as a market-leading payments infrastructure and software company. We are excited to continue our partnership with Vijay and the entire NMI team, and we see a substantial growth opportunity for the company. The addition of Insight Partners further supports our original investment thesis and sponsorship of the NMI team’s focus on driving high organic growth combined with strategic M&A.”

Barclays served as financial advisor and Kirkland & Ellis LLP served as legal advisor to NMI. Berenson & Company acted as financial advisor and Willkie Farr & Gallagher LLP served as legal advisor to Insight Partners.

About NMI

NMI is a leading global full commerce enablement platform, processing more than $150 billion in payments annually. We enable payments for over 2,800 partners and over 250,000 merchants around the world and across the entire commerce ecosystem: online, in-app, mobile, in-store, unattended and whatever’s next. We’re constantly innovating in order to power the next era of payments, building in the latest technology so ISVs, ISOs, banks and fintech innovators can focus on what they do best. NMI has offices in the US and UK and serves global customers.

About Francisco Partners

Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in more than 300 technology companies, making it one of the most active and longstanding investors in the technology industry. With more than $25 billion in assets under management, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

About Insight Partners

Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit www.insightpartners.com or follow us on Twitter @InsightPartners.

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 85 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, including a list of all Great Hill investments, visit www.greathillpartners.com.

ABOUT NMI
NMI provides payments enablement technology that empowers ISOs, ISVs, VARs and payment facilitators to offer branded payment gateway services without building or maintaining their own technology. NMI enables critical payment functionality to affiliates and merchants with its white-labeled, security-focused, feature-rich, omni-channel platform.