Fairfax, Virginia-based software development company 3Pillar Global has launched a strategic partnership with CIP Capital, a New York-based private equity firm, along with an investment from CIP Capital for an undisclosed amount.
Founded in 2006, 3Pillar Global builds software and apps for clients like CARFAX, Fortune and PBS. The company has nearly 900 employees across three continents and eight offices, including its headquarters in Fairfax. The new partnership will help 3Pillar Global enter a new growth phase and pursue some merger and acquisition deals. With the investment, CIP Capital will become a minority owner in 3Pillar Global.
“This strategic partnership allows us to supercharge our go-to-market approach and expand our ability to deliver great services to our current and future clients,” said 3Pillar Global CEO David DeWolf in a statement. “We’re excited to partner with CIP Capital to fuel the next phase of incredible work from our 3Pillar team.”
With this new phase, 3Pillar Global’s management team will continue to lead the company, with DeWolf still at the helm. Justin Lipton, managing partner at CIP Capital, and Mike Grady, principal at CIP Capital will join 3Pillar Global’s board of directors.
“We look forward to helping accelerate their leadership within the software services industry through this innovative approach to digital product development,” Lipton said. “Our partnership will provide the company with additional investments in sales and marketing initiatives, expand its global delivery footprint, and focus on next-generation capabilities around machine learning, and AI.”
DeWolf and Jessica Hall, 3Pillar Global’s VP of product strategy and design, have written previously about how to maintain a balanced team culture.-30-