Affiliates of Macanta invested in Fonteva, Inc. (www.fonteva.com) in 2017. Fonteva is a cloud-computing ERP software company focused on providing solutions to membership organizations and associations. The Fonteva product, known as “MemberNation”, is the first global membership cloud platform for associations and other groups. Fonteva is an “Independent Software Vendor” (ISV) built 100% on the SalesForce.com platform and the company enjoys a symbiotic relationship with SalesForce. Macanta was introduced to the company’s founder and CEO by one of Fonteva’s Directors and lead investors and was invited to participate in an early round of funding and participated in several followup rounds. We viewed Fonteva as a high quality business with an attractive “Software as a Service” (Saas) business model that results in visible recurring revenue. Furthermore, we saw compelling growth thesis driven by software cloud-migration and the strength of the SalesForce.com platform.
Fonteva was acquired by Togetherwork in 2021 for a successful exit for the Macanta affiliate.