Hudson Hill Capital, a private investment firm founded by Eric Rosen, today announced a significant majority investment in MarketTime, a SaaS platform that offers a comprehensive set of features to facilitate wholesale retail commerce between brands, manufacturer representatives, agents and retailers.
Founded in 2008, MarketTime’s software platform provides tools to sales representatives and agencies to automate the wholesale transaction process and has expanded to offer a similar platform to manufacturers. These order management products automate the repeated interactions of buyers and sellers within wholesale retail commerce, replacing paper, pencil, email, and Excel processes. The company also offers configurable branded websites to brands and analytics tools to brands, agencies, and retailers.
Chris Happ, Chief Executive Officer of MarketTime, commented, “The MarketTime platform facilitates over $6 billion of wholesale retail commerce. Our technology serves as the backbone of customers’ order management processes, automating the workflow of repeated interactions between buyers and sellers. We are excited to partner with the HHC team to enable us to further enhance our product offerings and expand our reach, ultimately providing greater value to our customers.”
Eric Rosen, Managing Partner of Hudson Hill, said, “This transaction fits well with the HHC approach to investing, helping founder-led businesses inflect their growth through the targeted application of the HHC playbook. We are very excited by MarketTime’s offerings and see opportunities to expand the product features of the platform to enhance the customer experience by further automating the wholesale commerce workflow. We look forward to working with Chris and the other senior management members to drive greater customer success, as measured by the total Gross Merchandize Value (GMV) of the customers on our platform.”
HHC is partnering with two of the firm’s Strategic Advisory Board members: Christine Lee and Todd Johnson. Ms. Lee has 35 years of experience in the payments processing sector, most recently serving as CEO of BillingTree through its sale to Repay Holdings. A highly accomplished industry veteran, Ms. Lee served for over a decade on the Electronic Transactions Association Board, including a term as President. Mr. Johnson has more than 25 years of experience working within software companies at the intersection of the consumer retail supply chain. His previous experience includes GM and CCO of Blue Yonder, CEO of DiCentral, President of TrueCommerce, and President of CommerceHub. They serve as members of MarketTime’s Board of Directors.
“We are excited to work with Chris and Todd who will lead the payments processing capabilities and product / go-to-market efforts, respectively,” added Mr. Rosen. “Our Portfolio Transformation Group (PTG) is already working closely with MarketTime’s management team to augment the team’s efforts across a variety of dimensions.”
Canaccord Genuity LLC acted as financial advisor, and Sidley Austin LLP acted as legal advisor to MarketTime. Winston & Strawn LLP acted as legal advisor to Hudson Hill.
About MarketTime
MarketTime is the technology platform of choice for some of the most innovative B2B sales organizations in the world. MarketTime’s solutions are the only fully integrated hybrid SaaS and cloud-based applications available to stakeholders anywhere and anytime that fulfill three key needs: making product discovery and ordering easier for buyers; making organizing and sharing information intuitive and secure for sellers; and saving time and money for all ecosystem participants. The company facilitates more than 4 million orders annually for more than 300,000 retailers, with over 350 sales agencies, 7,000 sales representatives, and over 7,000 brands utilizing the platform.
To learn more about how MarketTime can help grow your business, visit www.markettime.com or schedule a demo.
About Hudson Hill
Based in New York, HHC (www.hudsonhillcapital.com) is a private investment firm founded by Eric Rosen, Jason Palmatary, and Alexander Stacy. Departing from the prevailing short-term orientation of the private equity industry, HHC invests with families, entrepreneurs, and management teams who are attracted to patient, long-term capital partners. Hudson Hill invests its own capital alongside like-minded partners in attractive growth-oriented opportunities in industries benefiting from long-term secular growth tailwinds. HHC’s industry focus includes the business services, software, and financial services sectors.
