On Thursday, software developer TextExpander announced that they company had received a $41.4 million financing round as well as the addition of SaaS industry leader J.D. Mullin as the company’s new CEO. The financing is led by global growth equity investor Summit Partners and will support continued investment in R&D, hiring and customer acquisition. The company develops software for the macOS, Windows, Chrome, Android, iOS, and iPadOS operating systems.
TextExpander is designed to help teams and individuals accelerate repetitive tasks, and is also geared towards helping companies create customizable, user-defined shortcuts, or “snippets.” The company has more than 100,000 monthly active users (MAU) who have employed 560 million expansions in the last year alone.
Mullin adds substantial experience in leading and scaling fast-growing SaaS business, and adds both engineering and product team assets to the company for its growth. Prior to joining TextExpander, Mullin was an Executive-in-Residence at Summit Partners. Previously, he spent two years leading the QuickBooks Time business unit at Intuit following its acquisition of TSheets, a leading SaaS-based time tracking and scheduling program.
J.D. Mullin and Colin Mistele have joined TextExpander Founders Philip Goward and Greg Scown on the TextExpander Board of Directors. Matt Rissell, founder and former CEO of TSheets, has also been named a board director.
Stay tuned for additional details as they become available.
Via BusinessWire and Summit Partners