Tuesday, May 28, 2019

Upland Software Buys Kapost For $50M

Austin-based Upland Software, which develops cloud-based enterprise work management software, has acquired Kapost, a developer of sales and marketing software. According to Upland Software, it paid $45M in cash at closing for Kapost, along with $5.0M in a cash holdback payable in 12 months. Upland said it expects to generate annual revenues of $15.0M from the acquisition. Kapost was based in Boulder, Colorado, and was venture backed by Access Venture Partners, Cue Ball Capital, Iron Gate Capital and Salesforce Ventures, Lead Edge Capital and High Country Ventures. Kapost's software is used for content marketing.