Innovapptive Garners 2023 Smart Business Network Dealmaker Award

HOUSTON, Oct. 31, 2023 /PRNewswire/ -- Innovapptive has been awarded a 2023 Houston Dealmaker of the Year Award by the Smart Business Network. The award recognizes outstanding business leaders who demonstrated exceptional expertise in dealmaking, mergers and acquisitions, and capital sourcing over the past 24 months. Honorees will be celebrated at the upcoming Houston Dealmakers Conference on Nov. 8, at the Houston Country Club.

The Smart Business Network Dealmaker of the Year Awards represent a mark of distinction and a testament to the exceptional track record and remarkable business acumen of the recipients. These leaders made significant contributions to their industries, showcasing their ability to navigate complex transactions, secure funding, and drive growth.

The 2023 honorees are:

• Sundeep Ravande, CEO & Founder, Innovapptive Inc.

Developer of a Software-as-a-Service-based platform designed to close the loop between assets, operators, maintenance, and warehouses, with back-office systems on one unified engagement platform.

• • • Raised $26.00 million of Series B venture funding in a deal led by Vista Equity Partners in May of 2023, bringing their total funding to $52 million since inception.
    • Tiger Global Management also participated in the round.
    • The funds will be used to accelerate product innovation and reach new regional markets while further establishing the company's leadership position in the emerging connected worker software category.
      
      
• Matthew Flemming, Chairman, SMG Industries, Inc.

A publicly traded transportation services company with twelve divisions offering end-to-end logistics solutions.

• • • Made a transformational acquisition on July 7, 2023, acquiring Barnhart Transportation for $53.25 million.
    • Recapitalized SMGI's balance sheet with a new $25 million revolving line of credit and a $31 million term loan.
    • Doubled the company's annual revenues to approximately $152 million.
      
      
• Todd Dauchy, Chief Executive Officer, SMA Technologies

Developer of a workload automation platform for banks, credit unions, insurance companies, and other financial services businesses.

• • • ParkerGale Capital sold a stake in the company to Thoma Bravo in October of 2022.
    • Received debt financing, including a revolving credit line, a term loan, and a $5.87 million mezzanine facility from Sixth Street Lending Partners BDC and PNC in support of the transaction.
    • Funds to be used to support future acquisitions.
      
      
• Josh Teekell, Founder & CEO, Andrew Fuselier, COO, SmartAC.com

A team on a mission to perfect the experience of home comfort for homeowners through custom sensors, software, and streamlined interactions with service providers.

• • • Raised $22 million in Series B venture funding earlier this year, primarily from local Houston investors, to fund continued growth into the HVAC, plumbing, and energy sectors.
      
      
• Timothy Boire, Co-Founder, President, CEO, VenoStent

Developer of biomedical engineering technology designed to improve the quality and length of life for dialysis patients.

• • • Raised $16.06 million through a combination of Series A and Series A1 venture funding in a deal led by IAG Capital Partners and Good Growth Capital in July of 2023, putting the company's pre-money valuation at $30M.
    • Wealthing VC Fund, SNR, and other investors participated in the round.
    • The funds will be used to fund their US Pivotal Trial and expand their manufacturing capabilities, aiming towards FDA Approval of their novel therapeutic medical device.

The Smart Business Network congratulates these individuals for their outstanding contributions to the world of dealmaking and their dedication to driving growth and innovation in their industries. Their achievements serve as an inspiration to business leaders everywhere.

About Innovapptive
Innovapptive is headquartered in Houston, TX and is a provider of a "Mobile First" and AI Powered SaaS Connected Worker Platform that closes the loop between industrial assets, back-office and front-line workers. Innovapptive's integrated suite of apps unlocks productivity for operators, maintenance, and warehouse teams to maximize productivity, uptime and growth profitability for some of the world's largest companies. Learn more at http://www.innovapptive.com.

About Smart Business
With more than 30 years of experience, Smart Business Magazines, Events, and Books is committed to producing top-quality content, events, and marketing materials for a diverse audience of entrepreneurs and senior executives. The company focuses on highlighting successful CEOs and senior executives who demonstrate innovative leadership, offering valuable insights and strategies for business growth and success. Through networking events and expertly managed programs, Smart Business facilitates valuable face-to-face interactions and fosters meaningful relationships among business leaders.

MEDIA CONTACT:
Neal Leavitt
Leavitt Communications
760/639-2900
[email protected]

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SOURCE Innovapptive