San Francisco, CA - September 25, 2018 - Serent Capital, a San Francisco-based private equity firm focused on investing in fast-growing software and services businesses, has made a growth investment in KEV Group ("KEV"), a leading provider of cash accounting management and online payments software to K-12 schools.
KEV's School Cash Suite is a web-based platform designed to meet the unique financial needs of K-12 schools. KEV's software empowers almost 9,000 schools across North America to manage more than $1.5 billion in funds per year, eliminating the challenges of dealing with cash in schools. The School Cash Suite is the only solution available that fully integrates online payments, fee management, school-level accounting, and digital forms into one easy to use solution for administrators, parents and students. The system was developed by industry leaders to simplify accounting and cash management tasks, while providing the transparency, accountability, internal controls and reporting capabilities that district business officials require.
"We are excited to be partnering with Serent," said Bram Belzberg, Chairman & CEO of KEV Group. "For the past 22 years, the foundation of our business has been delivering the best, most innovative solutions to our users. Serent's resources and expertise will help us increase our investments in product development and customer support to enhance the value to our users, extend our sales and marketing efforts to serve more schools and districts, and develop the organization to support the company's next phase of growth."
"We first met KEV almost three years ago. Since then, we have witnessed the company grow and develop into a market leader with a robust school financial management solution and a deeply committed team solving the most pressing accounting and payments challenges faced by schools and districts," said Kevin Frick, Partner at Serent Capital. He continued, "We are delighted to have the opportunity to invest and support the company in its next phase of growth. We are confident that our experience investing in the Education space and the resources of our Growth Team will enable KEV to better serve its school and school board clients, and bring its innovative cash management and payments solutions to even more schools in the coming years."
Serent's investment in KEV represents its sixth investment in the education sector. Prior Serent education investments include USATestprep (2018), ArbiterSports (2017), Digital Architecture (2016), Diamond Mind (2014), and C2 Education (2011).
About KEV Group
KEV Group provides industry-leading online payment, accounting and activity tracking solutions to almost 9,000 schools across North America. For more than 20 years, KEV Group's School Cash Suite of products has helped schools and school boards ensure the security and transparency of student activity funds. KEV Group has been recognized on Deloitte's Technology Fast 500 as one of North America's fastest growing technology companies. For more information, visit kevgroup.com and schoolcashonline.com.
About Serent Capital
Serent Capital invests in growing businesses that have developed compelling solutions that address their customers' needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent helps growing businesses thrive. www.serentcapital.com