TA Associates and OceanSound Partners Join Forces to Propel Kinective's Growth and Innovation

Kinective, a leading provider of connectivity, workflow, and analytics software for the banking sector, has announced a strategic investment from TA Associates (“TA”) and existing investor OceanSound Partners (“OceanSound”). This collaboration will enable Kinective to accelerate product innovation, increase investment in sales and support resources, and deliver enhanced value to its customers. Upon completion of the transaction later this year, TA and OceanSound will become equal partners in Kinective, shaping the future of the company. The terms of the transaction have not been disclosed.

Kinective was formed in June 2023 through the combination of CFM, NXTsoft, and IMM, three fintech companies that specialize in API connectivity, workflow automation, and data analytics software. This strategic consolidation allows Kinective to provide the most comprehensive, open, and connected technology ecosystem in the banking industry. With offices in Phoenix, Orlando, and New Jersey, Kinective serves more than 2,500 banks and credit unions, representing one out of every four U.S. financial institutions.

The CEO of Kinective, Stephen Baker, expressed excitement about the partnership with TA and OceanSound, stating, “We are thrilled to partner with TA and OceanSound as we enter this next phase of growth. With TA’s extensive experience scaling software companies and OceanSound’s proven operational capabilities, we are better equipped to achieve our mission of helping customers connect to banking’s future.”

TA Associates, a leading global private equity firm, believes in the significant opportunities for Kinective's customers through product investments, new partnerships, and strategic acquisitions. Hythem El-Nazer and Mike Libert, Managing Directors at TA, are confident that their software expertise and global add-on acquisition capabilities will drive sustained growth for Kinective.

Ted Coons, Partner, and Parin Shah, Principal at OceanSound, have been part of Kinective's growth journey since December 2021. They have overseen significant transformation and helped the company triple its revenues, exceeding expectations. The combined value-add capabilities of TA and OceanSound will provide substantial resources to the management team, enabling the introduction of additional products and functionality for customers.

The investment in Kinective reflects OceanSound's strategy of partnering with founder-owned companies to drive value creation through organic growth initiatives and add-on acquisitions. Joe Benavides, Managing Partner at OceanSound, believes that TA is the ideal partner to augment their efforts and help Kinective accelerate its impressive growth potential.

Kinective was advised by Skadden, Arps, Slate, Meagher & Flom LLP, while Goodwin Procter LLP provided legal counsel to TA Associates.

About Kinective:

Kinective is a leading provider of connectivity, workflow, and analytics software to more than 2,500 banks and credit unions in North America. Formed in June 2023, Kinective unites CFM, NXTsoft, and IMM, three complementary fintech companies with over 70 years of experience in banking. Kinective empowers financial institutions with access to innovation, helping them unlock new possibilities and connect to the future. Kinective operates under the umbrella of its portfolio company, OceanSound Partners.

About TA:

TA is a global private equity firm that focuses on scaling growth in profitable companies. With a deep industry expertise, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has over 150 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai, and Hong Kong.

About OceanSound Partners:

OceanSound Partners is a New York-based private equity firm that pursues control investments in technology and technology-enabled services companies serving government and enterprise end markets. OceanSound employs a partnership approach, working closely with founders, entrepreneurs, and executives of middle-market businesses to drive transformational growth.

In conclusion, the partnership between TA Associates and OceanSound Partners marks a significant milestone for Kinective, propelling its growth and innovation in the banking industry. With the combined expertise and resources of the two firms, Kinective is well-positioned to meet the increasing demand for digital transformation solutions and deliver exceptional value to its customers.