July 1, 2014 - Accruent, the leader in real estate and facilities management software, today announced that Mark Friedman, Founder and CEO, received the EY Entrepreneur Of The Year™ 2014 Award in Central Texas.
The award recognizes outstanding high-growth entrepreneurs who demonstrate excellence and extraordinary success in areas including innovation, financial performance and personal commitment to their businesses and communities.
“Mark has been an excellent business partner over the past five years as he led Accruent’s transformation into the business it is today,” said Alan Cline, a Principal at Vista Equity Partners. “Accruent is a very well run, growing business that has delivered consistent results for shareholders and customers alike. Mark’s performance in building a strong and positive culture at Accruent and focusing on continuous improvement through team accountability has made him a top performing CEO in our portfolio.”
In October 2013, TA Associates, a leading global growth private equity firm, announced a majority investment in Accruent that infused $185 million of capital into the company to enable further growth, product innovation and world class customer service. This launched a new chapter for the company, allowing the team to leverage TA’s global scale and industry expertise.
“We’ve tracked the IWMS market for years and are very bullish on the market opportunity, Accruent’s position as a market leader, and Mark as the CEO leading this company and the industry,” said Hythem El-Nazer, a Director at TA Associates and a member of the Accruent Board of Directors. “His vision, entrepreneurial spirit, and disciplined execution will enable Accruent to continue delivering world class customer results while expanding its world class culture and workplace.”
Mark founded Accruent in 1995 and directs the company’s corporate vision, strategy and operations. He drove the company to become the global market leader in real estate and facilities software with over 1,200 customers that manage over $100B of annual expense. In 2014, Accruent became the third largest software company in Austin and was recognized by Glassdoor as one of the 50 Best Places to Work from amongst 250,000 companies nationally.
“Receiving the Entrepreneur of the Year Award is a humbling honor and one that I share with the entire Accruent team, investors, and customers,” said Accruent Chief Executive Officer Mark Friedman. “While it’s taken many years to reach an exciting inflection point in our market, things are now accelerating and we’re just getting started delivering new solutions to customers and achieving the industry change that’s possible.”
Now in its 28th year, the EY Entrepreneur of the Year program has honored the inspirational leadership of such entrepreneurs as Howard Schultz of Starbucks Coffee Company, Pierre Omidyar of eBay, Inc., and Mindy Grossman of HSN. Recent U.S. national winners include Reid Hoffman and Jeff Weiner of LinkedIn; Hamdi Ulukaya, founder of Chobani; and 2013 winner Hamid Moghadam, CEO and Chairman of Prologis.
Accruent helps real estate and facilities leaders deliver long-term, world class operational and financial performance through purpose-built industry suites that deliver greater customer value. Accruent’s six product brands, Accruent, FAMIS, Siterra, 360Workplace, Evoco and Expesite, are used by more than 1,200 leading organizations in 120 countries, including 40% of the Top 100 Retailers, 20% of the Fortune 500, 100 leading universities, all of the top 4 U.S. wireless carriers, and leading service providers managing more than 2 billion square feet of property. Founded in 1995, Accruent is headquartered in Austin, Texas, with offices in Santa Monica, California; Evanston, Illinois; Columbus, Ohio; Calgary, Alberta, Canada; and Hong Kong. For more information, visit www.accruent.com.
About TA Associates
TA Associates is one of the largest and most experienced global growth private equity firms. The firm has invested in more than 430 companies around the world and has raised $18 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries. More information about TA Associates can be found at www.ta.com.
About Vista Equity Partners
Vista Equity Partners, a U.S. based private equity firm with offices in San Francisco, Chicago and Austin, currently invests over $7 billion in capital committed to dynamic, successful technology-based organizations led by world-class management teams with long-term perspective. Vista is a value- added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For further information, please visit www.vistaequitypartners.com.