On July 19, 2023, ProShop ERP announced the closing of their $42 million growth equity investment from Mainsail Partners. The company plans to utilize the funding to expedite product development and market expansion.
ProShop ERP is a Vancouver-based provider of enterprise resource planning (ERP) software for precision manufacturing companies in several industry verticals, such as the defence, aerospace, medical and space industries.
Mainsail Partners, based in Austin and San Francisco, is a growth equity firm that focuses on bootstrapped SaaS companies. Mainsail has raised over US$2.2 billion in committed capital and invested in more than 70 companies.
Osler, Hoskin & Harcourt LLP advised ProShop ERP with a team consisting of Mark Longo, Riley Graydon, Michelle Wong, Sylvia Rowat and Laura Webb (Emerging and High Growth Companies), Dov Begun and Alina Tamm (Tax), Abigail Omale (Employment) and Katherine Rusk (Technology).