Edison Partners Exits Fishbowl, Inc.
Leading Customer Engagement Platform for Restaurant
Industry Acquired by Symphony Technology Group
PRINCETON, NJ – February 6, 2017 -- Edison Partners today announced the sale of Virginia-based Fishbowl, Inc., to Symphony Technology Group (STG), a private equity firm based in Palo Alto, CA. The acquisition closed on January 27, 2017. Since Edison’s initial investment in 2007, Fishbowl grew 4X revenue.
Fishbowl’s customer engagement platform leverages vast amounts of structured and unstructured data to deliver insights into guest desires and preferences and identifies strategies for engaging with guests in a more personal, relevant, and effective way.
“Fishbowl presented Edison with an excellent opportunity to leverage our long history in the marketing and data analytics space,” said Edison General Partner Gary Golding, who led the investment. “We thank Dev Ganesan for his leadership over the last three years, and wish the team continued success with their new partners; we also thank Edison Director Network member Todd Walrath for his guidance and service as a Fishbowl board member.”
“We are extraordinarily grateful for the support and guidance Edison provided over the years; their unwavering commitment to our vision and strategy helped us carve out and lead a new category within restaurant marketing automation,” said Dev Ganesan, CEO of Fishbowl. “I have enjoyed the opportunity to engage with my fellow Edison CEOs over the past three years and look forward to continuing my involvement as an Edison Director Network member.”
Edison Partners has financed and guided more than 200 private companies, including 29 Marketing Technology companies focused on solutions that sell into the CMO suite. Notable exits include ACT! (Sage), Cadient (Cognizant), Dendrite (Cegedim), Vocus, and NetProspex (Dun & Bradstreet). Current investments include: Arkadium, iQ media, ItemMaster, Jornaya, LookBookHQ, Magnetic, MediaBrix, Motionsoft, Pixability, RealMatch, Salsa Labs, Terminus, Triplelift, and Wyng.
Over the last eighteen months, Edison has invested in 4 Marketing Technology companies from its latest fund, Edison Partners VIII.
About Fishbowl, Inc.
Fishbowl empowers restaurants to become best in class marketers. Through its customer engagement platform, Fishbowl provides deep insights to execute data-driven decisions and personalized marketing that drive brand preference and amplify guest sales and visits. Fishbowl’s highly scalable, SaaS platform ingests data from myriad sources to uncover insights that can be leveraged across integrated digital marketing channels. Relied on by more than 70,000 restaurant locations to effectively engage guests, Fishbowl is headquartered in Alexandria, VA, with offices in Silicon Valley, UK, and India. For more information, please visit our website, or follow us on Facebook, Twitter, and LinkedIn.
About Edison Partners
For 30 years, Edison Partners has been helping CEOs and their executive teams navigate the entrepreneurial journey and build successful companies. Through the unique combination of expansion capital and the Edison Edge platform, consisting of strategic advisory, the Edison Director Network, and executive education, Edison employs a holistic approach to nurturing invention and creating value for growth stage businesses ($5 to $20 million in revenue) in financial technology, healthcare IT, enterprise IT, and marketing technology industries. Edison investment objectives also include: buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s active portfolio has created aggregate market value exceeding $5 billion. Its long-tenured team based in Princeton, NJ manages more than $1 billion in assets throughout the eastern United States.