In the lobby of Intapp Inc.'s new DealCloud Inc. office, executives, employees and local officials mingle with drinks in hand, applauding as a pair of gold novelty scissors makes its way to the front of the crowd before christening the new space. The multimillion-dollar investment in the 18,000-square-foot office in downtown Charlotte represents the company's impressive growth --and its ambitious future plans. In the last three years, 10-year-old DealCloud has grown from 15 employees to nearly 250. Its explosive growth can be credited to its niche product in a market with few competitors, company culture and 2018 acquisition by Palo Alto, Calif. based Intapp.
Founders Ben Harrison and Rob Cummings started DealCloud in 2010 as an idea jotted on a whiteboard while they worked at Falfurrias Capital Partners, a Charlotte-based private equity firm. They realized that Salesforce, Microsoft and other software platforms lacked necessary tools for dealmakers.
The duo hired a development team to create software services that help financial companies track virtually every aspect of deals. Its products provide workflow organization, analyze data, organize intelligence on key players and offer other tools to improve relationships with clients.
DealCloud attracted $5.3 million from St. Louis-based Cultivation Capital LLC and Philadelphia-based Hamilton Lane Inc. in 2015, a transaction that included naming veteran tech executive Rick Kushel as CEO. Since then, the company has added two New York-area offices and one in London.
"We've done a really good job developing the technology to solve for the specific-use case," Kushel says. "The moment we walk into an opportunity, it's very clear that we understand their business, and that's what's elevated our win rate."
DealCloud caught the eye of Intapp, which bought the company for undisclosed terms. "The business these guys have been able to create has all the best parts of [an] entrepreneurial, innovative, high growth company," says Don Coleman, chief operating officer of Intapp, which provides similar services for law firms, accountants and others.
"Employees here are part of a community; they feel like they're part of something," Coleman says. "The first time I set foot in the prior office, an individual was celebrating her birthday...