9 Recent SaaS M&A Transactions: Insights for SaaS Leaders

The pace of M&A activity in the middle-market SaaS space remains strong, driven by companies looking to expand into new markets, deepen industry reach, and build comprehensive end-to-end solutions.

SaaS leaders are capitalizing on opportunities to scale, optimize, and position themselves for long-term success.

At SEG, we’ve had a front-row seat to many of these deals, advising leading B2B SaaS companies successfully through M&A. We’re proud to have played a pivotal role.

In this post, we highlight nine recent SaaS M&A deals. From vertical expansion to AI-driven growth, these transactions offer lessons for SaaS executives considering their next strategic move.

If you’d like to explore options for your own business, schedule a time to talk with us.

Deal: CM Systems (ComplianceMate) Acquired by Ladle

Date: March 2025

Insight: An industry-focused platform “greater than the sum of its parts”

Nexa Equity acquired CM Systems (ComplianceMate), Lawrenceville, Ga., adding the company to its newly launched platform, Ladle. Ladle unites three businesses: ComplianceMate, MeazureUp, and Storewise.

This strategic move by Nexa added a third business to a platform focused on streamlining foodservice, restaurant, and grocery operations. “By bringing together industry leaders like ComplianceMate, MeazureUp, and Storewise, we’ve built a platform that’s greater than the sum of its parts,” said Todd Gebski, CEO of Ladle. “This integration strengthens the value of our offerings and positions us to deliver the most effective, efficient solutions to our customers.”

For its part in the platform, ComplianceMate delivers real-time temperature monitoring, HACCP compliance tools, digital checklists, and automated reporting. The tools help foodservice, restaurant, and grocery operators meet regulatory requirements, ensure food safety standards, and drive operational excellence across each of their locations.

Deal: Core Sound Imaging Receives Investment From PSG

Date: January 2025

Insight: Accelerating growth in core verticals & enabling further AI usage

Core Sound Imaging, Raleigh, N.C., simplifies and improves medical imaging. Studycast provides a single workflow to support all steps from ordering studies to reviewing and archiving results. The system allows healthcare providers and patients to access diagnostic-quality medical images anywhere with internet access. Studycast’s core specialties include cardiology, vascular surgery, and OB/GYN, with modalities including ultrasound, nuclear medicine, electrocardiography, and more.

Growth equity firm PSG’s expertise in healthcare software, AI, and operations enhances Studycast’s capabilities, supporting providers and improving patient outcomes. PSG’s investment supports Studycast’s plans to accelerate its growth in core verticals, enter new clinical areas, and further enable AI usage on its platform.

“We see a strong opportunity to scale Studycast’s use of AI to help improve physician workflows and patient outcomes and we’re eager to work closely with the team to roll this out,” said Jimmy Guan, Principal at PSG.

AI emerged as a factor for buyers in our 2025 Buyers’ Perspectives report. Read now.

Deal: Volanté Systems Acquired by CORA Group

Date: October 2024

Insight: Strategic industry vertical expansion

Toronto-based Volanté Systems is a cloud-based software provider specializing in comprehensive and scalable Point-of-Sale (POS) solutions for foodservice enterprises.

Acquired by CORA Group, Volanté Systems’ solutions aim to revolutionize how foodservice businesses manage operations. Volanté will continue to operate as a standalone brand while strengthening CORA’s offering for clients in the foodservice industry.

“Volanté’s industry expertise and innovative software align perfectly with our mission to grow and strengthen our technology offerings in the foodservice sector. This acquisition is a strategic step forward in our expansion,” said Matt Otchet, CEO of CORA Group.

CORA Group specializes in strategic acquisitions of vertical-specific software companies including construction, foodservice, debt collection and recovery, wine/spirits, moving/storage, loyalty, legal, and long-term care verticals.

Deal: Neighborly Receives Investment from Falfurrias

Date: October 2024

Insight: Capitalizing on municipal market growth & increasing impact

Atlanta-based Neighborly’s platform helps government entities streamline the administration and disbursement of funds for programs such as housing and disaster recovery. The company’s platform includes modules covering grant/application management, case management, loan administration, construction, asset monitoring, and reporting, among others.

Falfurrias’s investment allows Neighborly to expand its impact, supporting more communities with its software solutions.

Falfurrias Growth Partners is a middle-market investment fund focused on investing in high-growth companies in the software and business services sectors.

Explore the evolving GovTech landscape with our Government Software Market Maps.

Deal: Realync Acquired by Grace Hill

Date: September 2024

Insight: Vertical-focused end-to-end solution

Realync, backed by Susquehanna Growth Equity (SGE), provides a virtual platform for resident tours and communication for the multifamily industry. Grace Hill acquired Realync to help meet the growing demand for virtual solutions in the real estate industry. By combining Realync’s cutting-edge virtual touring technology with Grace Hill’s existing solutions, this partnership enhanced property performance.

“Video communication is transforming the way residents connect with property teams in real estate, and Realync’s cutting-edge platform is a powerful addition to our solutions. Together, we are uniquely positioned to drive property performance and elevate resident satisfaction across the industry,” said Kendall Pretzer, CEO of Grace Hill.

Grace Hill is backed by Aurora Capital Partners. Grace Hill’s solutions in the real estate industry cover policy, training, assessment, survey, and data-driven insights; they are used by more than 500,000 real estate professionals from more than 1,700 companies.

Deal: Pepperi Acquired by Advantive

Date: July 2024

Insight: End-to-end solution & geographic expansion

Advantive’s acquisition of Pepperi furthers its mission of driving outcomes for its customers by strengthening its international footprint. The acquisition also contributed to building a unified commerce experience that connects mobile field sales, B2B ecommerce, and back-office management.

Advantive, backed by TA Associates, is a leading provider of purpose-built software for the specialty manufacturing and distribution industry.

Pepperi serves over 1,000 wholesalers and distributors in more than 70 countries. Its solution aims to help its clients increase sales, reduce inefficient processes, and accelerate operations.

“Until now, Advantive primarily focused on manufacturing and distribution-centric software with an emphasis on ERP, MES, and QMS. This acquisition significantly expands feature capabilities into B2B commerce and sales force automation,” said Kevin Boyce, CEO of Advantive. “Now, Advantive can offer a deeper set of solutions that bring manufacturers, distributors, and retailers closer together, removing friction in the supply chain.”

Deal: EcoInteractive Acquired by mdf commerce

Date: July 2024

Insight: Deepening government solution offerings

With the largest network of public agency buyers in North American, mdf commerce was well positioned to integrate EcoInteractive. Government agencies use EcoInteractive’s cloud-based SaaS software to manage critical infrastructure portfolios.

The company’s solution, ProjectTracker, is designed for transportation planners and capital program managers and supports DOTs, MPOs, and local capital program managers across more than 25 U.S. states.

“There is a tremendous opportunity to help government agencies deploy integrated technology solutions that drive operational improvements and better outcomes for their communities,” said Jessie Yu, CEO of EcoInteractive. “The complementary product and cultural fit between mdf commerce and EcoInteractive creates a strong partnership to accelerate our shared vision.”

KKR-backed mdf commerce’s solutions optimize and accelerate commercial interactions between buyers and sellers.

See more insights on public sector software trends in our State of Government Software Report.

Deal: StorageAuctions.com Acquired by Storable

Date: June 2024

Insight: An end-to-end vertical solution

This strategic partnership created a comprehensive solution for self-storage operations.

Baton Rouge-based StorageAuctions.com is a leading online platform specializing in storage unit auctions. Established by a veteran in the self-storage sector, the platform simplifies the auction process and expands the reach of auction events. The result: increased unit sales potential.

Storable, backed by EQT, is the leading provider of integrated technology solutions, powering the self-storage, marine, and RV/Campground industries. The company offers management software, marketplace, websites, access control, insurance, payments, and more.

By integrating StorageAuctions.com’s online auction services, Storable improved its offerings to include a dynamic auction module that addresses the often dreaded but necessary part of storage management — clearing delinquent units.

The two combined offer a comprehensive platform that spans the entire self-storage lifecycle.

Deal: Mobile Health Acquired by H.I.G. Growth Partners

Date: June 2024

Insight: Vertical-focused healthcare market growth

Mobile Health is an end-to-end digital health, wellness, and virtual care SaaS platform focused on reducing healthcare costs for employers and creating improved health outcomes for employees. Mobile Health helps employees proactively and effectively manage their health by identifying health risks, then using personalized incentives to facilitate appropriate care. It has more than 90,000 customers.

H.I.G. Growth Partners’ acquisition supports Mobile Health’s mission to transform digital health and wellbeing, ultimately improving health outcomes for millions while reducing costs to employers.

“Mobile Health is a highly innovative organization with a flexible low-code technology platform, uniquely enabling highly scalable deployment via channel partners and direct to employers of different sizes and across industries,” said Eric Tencer, Managing Director at H.I.G. Growth. “We are excited to work with the Mobile Health team as they deliver compelling solutions to drive improved employee health and reduce healthcare costs.”

Explore other recent deals in the healthcare vertical using our SaaS M&A Deal Database – updated monthly with insights from across the sector.

Your Company’s Opportunities

Whether it’s embracing vertical integration, AI-driven expansion, or market consolidation, understanding what’s driving top deals in this market can help you better position your business for growth.

If you’re exploring options for your own business, let’s connect to discuss how you can capitalize on current market trends and opportunities.