# Spectrum Equity: portfolio, investments and team > Spectrum Equity is a private equity based in United States. 55 investments on record, 2 in the last 12 months, latest Sept 2026. Source: https://millionrounds.com/fund/spectrum-equity (Millionrounds; every figure on the page links to its filing or article) United States · [Investor](https://millionrounds.com/investors) # Spectrum Equity Last cheque observed Sep 2026; 55 cheques on record. Email Deploying now New fund $2.4B, Oct 2026 Private equity Seed Series A Series B Collaboration Tools Recurring SaaS Follow Spectrum Equity and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fspectrum-equity) Deploying now **100%** of best year **2** **cheques in 12 months**, 55 on record Since the last cheque **60** days **00** hrs **00** min **00** sec Median round **$62M** Rounds led **4 of 55** Sole investor **23 rounds** Exits **9 from the portfolio** Mostly in **United States, 77%** Pitch Spectrum Equity ## Spectrum Equity highlights - 01 2 cheques in the last 12 months - 02 Mostly Growth and Series B: 48% of its rounds - 03 Sole investor in 23 rounds, median $50M - 04 9 exits from the portfolio ## What they do > Spectrum Equity is a growth equity firm building value through shared perspective, strategic connections, and focused commitment. From their own website - **Type:** Private equity (from a list, unverified) - **Cheque size:** Not stated - **Stages:** Seed Series A Series B Growth - **Sectors:** Collaboration Tools Recurring SaaS - **Based in:** Boston, United States - **Cold pitches:** Not stated ## The record Every round we can evidence, newest first **55 appearances** - **2026** 2 rounds - **Sept** **[Xapien](https://millionrounds.com/company/xapien)** Series B · GB · YFM Equity Partners **$56M** *Led* - **Feb** **[Splose](https://millionrounds.com/company/splose)** Series A · AU · Startup Daily **$32M** *Led* - **2024** 1 round - **Nov** **[Lighthouse](https://millionrounds.com/company/lighthouse)** Series C · GB · Silicon Canals **$370M** With 5 others - **2019** 3 rounds - **Nov** **[Scribd](https://millionrounds.com/company/scribd)** US · FinSMEs **$58M** Sole investor - **Nov** **[Spreedly](https://millionrounds.com/company/spreedly)** US · FinSMEs **$75M** Sole investor - **Sept** **[Verafin](https://millionrounds.com/company/verafin)** Debt · CA · FinSMEs **$389M** *Led* - **2018** 2 rounds - **Oct** **[AllTrails](https://millionrounds.com/company/alltrails)** US · TechCrunch **$75M** *Led* - **Jun** **[B-Stock](https://millionrounds.com/company/b-stock)** US · FinSMEs **$65M** Sole investor - **2017** 1 round - **Sept** **[Digital Marketing Insitute](https://millionrounds.com/company/digital-marketing-insitute)** IE · FinSMEs **$31M** Sole investor - **2016** 1 round - **Sept** **[Lucid Software](https://millionrounds.com/company/lucid-software)** US · FinSMEs **$36M** Sole investor - **2015** 9 rounds - **Oct** **[Litmus](https://millionrounds.com/company/litmus)** Series A · US **$49M** Sole investor - **Oct** **[RainKing](https://millionrounds.com/company/rainking)** Growth · US **$67M** Sole investor - **Oct** **[GoodRx](https://millionrounds.com/company/goodrx)** US **Undisclosed** With 1 other - **Sept** **[Trintech](https://millionrounds.com/company/trintech)** US **Undisclosed** With 1 other - **Jul** **[PicMonkey](https://millionrounds.com/company/picmonkey)** Growth · US **$41M** Sole investor - **Jul** **[Ethoca](https://millionrounds.com/company/ethoca)** Growth · CA **$45M** Sole investor - **Jun** **[Jimdo](https://millionrounds.com/company/jimdo)** Venture · US **$28M** Sole investor - **Mar** **[Definitive Healthcare](https://millionrounds.com/company/definitive-healthcare)** US **Undisclosed** Sole investor - **Jan** **[lynda.com](https://millionrounds.com/company/lynda-com)** Series B · US **$186M** With 3 others - **2014** 5 rounds - **Dec** **[Teachers Pay Teachers](https://millionrounds.com/company/teachers-pay-teachers)** US **Undisclosed** With 1 other - **Nov** **[Prezi](https://millionrounds.com/company/prezi)** Growth · US **$57M** With 1 other - **May** **[Verafin](https://millionrounds.com/company/verafin)** Growth · CA **$60M** Sole investor - **May** **[ExamSoft Worldwide](https://millionrounds.com/company/examsoft-worldwide)** Debt · US **$15M** With 1 other - **Jan** **[MedHOK](https://millionrounds.com/company/medhok)** Growth · US **$78M** With 2 others - **2013** 3 rounds - **Aug** **[BATS Global Markets](https://millionrounds.com/company/bats-global-markets)** US · finsmes.com **Undisclosed** With 1 other - **May** **[Extreme Reach](https://millionrounds.com/company/extreme-reach)** Growth · US · finsmes.com **$50M** Sole investor - **Jan** **[lynda.com](https://millionrounds.com/company/lynda-com)** Series A · US · techcrunch.com **$103M** With 2 others - **2012** 2 rounds - **Sept** **[WeddingWire Inc](https://millionrounds.com/company/weddingwire-inc)** Series B · US · allthingsd.com **$25M** Sole investor - **Jun** **[finalsite](https://millionrounds.com/company/finalsite)** US · finsmes.com **Undisclosed** Sole investor - **2011** 3 rounds - **Jun** **[Animoto](https://millionrounds.com/company/animoto)** Series C · US · techcrunch.com **$25M** With 2 others - **Jun** **[Seamless](https://millionrounds.com/company/seamless)** Venture · US · xconomy.com **$50M** Sole investor - **Feb** **[Jagex](https://millionrounds.com/company/jagex)** GB · marketwire.com **Undisclosed** With 2 others - **2009** 3 rounds - **Oct** **[Canopy Financial](https://millionrounds.com/company/canopy-financial)** Series C · US · mercurynews.com **$63M** Sole investor - **Sept** **[Business Monitor International](https://millionrounds.com/company/business-monitor-international)** GB · altassets.com **Undisclosed** Sole investor - **Apr** **[SurveyMonkey](https://millionrounds.com/company/surveymonkey)** US · businesswire.com **Undisclosed** With 1 other - **2007** 4 rounds - **Oct** **[Ancestry](https://millionrounds.com/company/ancestry)** Growth · US · techcrunch.com **$300M** Sole investor - **Oct** Venture · techcrunch.com **$300M** Sole investor - **Sept** **[Demand Media](https://millionrounds.com/company/demand-media)** Series D · US · liquidscenarios.com **$100M** With 4 others - **Jul** **[Interbank FX](https://millionrounds.com/company/interbank-fx)** Venture · US · thealarmclock.com **$40M** Sole investor - **2006** 5 rounds - **Sept** **[Demand Media](https://millionrounds.com/company/demand-media)** Series C · US · liquidscenarios.com **$100M** With 4 others An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor. ## The team Named by the firm itself, on a filing, its Form ADV or its company registration **21 named** AJ **Adam J. Margolin** Managing Director of the General Partner i Filing they signed BC **Benjamin Carl Spero** Managing Director of the General Partner i Filing they signed BM **Brian Matthew Regan** Treasurer, Chief Financial Officer & Assistant Secretary i Form ADV BB **Brion B. Applegate** Managing Director of the General Partner i Filing they signed CA **Carolina Alvarez Picazo** Chief Administrative Officer, Chief Compliance Officer & Corporate Secretary i Form ADV CT **Christopher Thomas Mitchell** Managing Director of the General Partner i Filing they signed JJ **James J. Quagliaroli** Managing Director of the General Partner i Filing they signed JC **Jeffrey C. Haywood** Managing Director of the General Partner i Filing they signed JC **John Connolly** Managing Director of the General Partner i Filing they signed LJ **Leah J. Palmer** Managing Director of the General Partner i Filing they signed MN **Matthew Neidlinger** Managing Director of the General Partner i Filing they signed MR **Michael Radonich** Managing Director of the General Partner i Filing they signed MW **Michael William Farrell** Managing Director of the General Partner i Filing they signed PK **Parag Khandelwal** Managing Director of the General Partner i Filing they signed PT **Peter T. Jensen** Managing Director of the General Partner i Filing they signed RJ **Randy J. Henderson** Managing Director of the General Partner i Filing they signed RP **Ronan P. Cunningham** Managing Director of the General Partner i Filing they signed SM **Stephen Matthew Lesieur** Managing Director of the General Partner i Filing they signed VE **Victor E. Parker, Jr.** Managing Director of the General Partner i Filing they signed VE **Victor Elfendahl Parker** President i Form ADV WP **William P. Collatos** Managing Director of the General Partner i Filing they signed We also hold **51** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them. ## What the register says From the firm's own filings with the SEC, which it must file accurately by law **$7.3B** assets it manages Oct 2026 **6+** funds on file numbered funds in its name **Registered** investment adviser full reporting to the SEC - **Legal name:** Spectrum Equity Management, Inc. - **SEC number:** CRD 160619 Funds on its Form ADV **29** private funds, **$5.4B** in gross assets · filed Mar 2024 - Spectrum Equity VII, L.P. *Private equity* 84 investors $1.7B - Spectrum Equity VIII - A, L.P. *Private equity* 54 investors $1.3B - Spectrum Equity IX-A, L.P. *Private equity* 65 investors $1.0B - Spectrum Equity VIII - B, L.P. *Private equity* 30 investors $359M - Spectrum Equity IX-B, L.P. *Private equity* 31 investors $264M - Spectrum Select Opportunities-A, L.P. *Private equity* 14 investors $142M - Spectrum Discretionary Overage Program II *Private equity* 27 investors $125M - Spectrum Equity X-A, L.P. *Private equity* 65 investors $115M - Spectrum Equity Discretionary Overage Program *Private equity* 28 investors $85M - Spectrum Equity LS, L.P. *Private equity* 7 investors $61M And 19 more on the filing. Who backs their funds ## 2 LPs on record in Spectrum Equity's funds - **Committed:** $670M - **Funds:** 7 - **Vintages:** 2000 to 2024 The institutions that put money into its funds, which the firm then invests in companies. Source: the pension's own report, latest Mar 2026. - [**California State Teachers Retirement System** 6 funds *$570M*](https://millionrounds.com/fund/california-state-teachers-retirement-system) Fund Vintage Committed Spectrum Equity X-A 2024 $125M Spectrum Select Opps A 2021 $35M Spectrum Equity IX - A 2020 $125M Spectrum Equity VIII-A 2018 $110M Spectrum Equity VII 2014 $105M Spectrum Equity Investors VI 2010 $70M - [**Washington State Investment Board** 1 fund *$100M*](https://millionrounds.com/fund/washington-state-investment-board) Fund Vintage Committed Spectrum Equity Investors IV 2000 $100M ## Exits from the portfolio Companies it backed that were later bought or listed **9 in all** **[lynda.com](https://millionrounds.com/company/lynda-com)** Bought by [LinkedIn](https://millionrounds.com/fund/linkedin) **$1.5B** Apr 2015 **[Vendavo](https://millionrounds.com/company/vendavo)** Bought by [Francisco Partners](https://millionrounds.com/fund/francisco-partners) **Undisclosed** Oct 2014 **[Business Monitor International](https://millionrounds.com/company/business-monitor-international)** Bought by Fitch Group **Undisclosed** Mar 2014 **[Seamless](https://millionrounds.com/company/seamless)** Bought by [GrubHub](https://millionrounds.com/fund/grubhub-community-fund) **Undisclosed** May 2013 **[ITA Software](https://millionrounds.com/company/ita-software)** Bought by [Google](https://millionrounds.com/fund/google-assistant-investments) **$700M** Apr 2011 **[Ancestry](https://millionrounds.com/company/ancestry)** Listed **Undisclosed** Nov 2009 **[SilverBack Technologies](https://millionrounds.com/company/silverback-technologies)** Bought by [Dell](https://millionrounds.com/fund/dell) **Undisclosed** Jul 2007 **[ViAir](https://millionrounds.com/company/viair)** Bought by Visto **Undisclosed** Jun 2003 **[Geneva Technology](https://millionrounds.com/company/geneva-technology)** Bought by [Convergys](https://millionrounds.com/fund/convergys) **Undisclosed** Mar 2001 An exit counts when it came after the firm's first round in the company. From historical deal records. ## Companies it bought Acquisitions by the firm itself **ExactBid** **Undisclosed** Dec 2014 New fund on file **$2.4B** raised in Oct 2026 From its SEC filing, not a journalist: a firm that has just raised has money to deploy. ## The cheque Seed Series A Series B Median round joined **$62M** the round, not its cheque Alone, median **$50M** Led 4 of 55 rounds **7%** - **Sole investor:** 23 rounds - **Last cheque:** Sept 2026 - **Exits:** 9 from the portfolio Rounds by stage said on their site - Growth said *9* - Series B said *7* - Series A said *7* - Venture *6* - Series C *4* - Seed said *-* Cheques by month Led Joined Nov 2023 Oct 2026 Often in the room with - [3i Group](https://millionrounds.com/fund/3i-group) 4 - [Goldman Sachs](https://millionrounds.com/fund/goldman-sachs) 4 - [Oak Investment Partners](https://millionrounds.com/fund/oak-investment-partners) 4 - [Accel](https://millionrounds.com/fund/accel) 3 - [Generation Partners](https://millionrounds.com/fund/generation-partners) 3 - [Bain Capital Ventures](https://millionrounds.com/fund/bain-capital-ventures) 2 **Pitching Spectrum Equity?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque. Add to your CRM *→* ## Who they invest alongside The investors most often in the same rounds as Spectrum Equity. A count of rooms they were both in, not a relationship either has claimed. [**3i Group** Private equity **4** rounds together](https://millionrounds.com/fund/3i-group)[**Goldman Sachs** Private equity **4** rounds together](https://millionrounds.com/fund/goldman-sachs)[**Oak Investment Partners** Private equity **4** rounds together](https://millionrounds.com/fund/oak-investment-partners)[**Accel** VC firm **3** rounds together](https://millionrounds.com/fund/accel)[**Generation Partners** Private equity **3** rounds together](https://millionrounds.com/fund/generation-partners)[**Bain Capital Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/bain-capital-ventures)[**Battery Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/battery-ventures)[**General Catalyst** VC firm **2** rounds together](https://millionrounds.com/fund/general-catalyst)[**Geocapital Partners** Investment firm **2** rounds together](https://millionrounds.com/fund/geocapital-partners)[**Lehman Brothers** Hedge fund **2** rounds together](https://millionrounds.com/fund/lehman-brothers)[**Matrix Partners** VC firm **2** rounds together](https://millionrounds.com/fund/matrix-partners)[**Meritech Capital Partners** VC firm **2** rounds together](https://millionrounds.com/fund/meritech-capital-partners) ## Recently backed The latest companies Spectrum Equity put money into. [**Xapien** $56M · Sept 2026](https://millionrounds.com/company/xapien)[**Splose** $32M · Feb 2026](https://millionrounds.com/company/splose)[**Lighthouse** $370M · Nov 2024](https://millionrounds.com/company/lighthouse)[**Scribd** $58M · Nov 2019](https://millionrounds.com/company/scribd)[**Spreedly** $75M · Nov 2019](https://millionrounds.com/company/spreedly)[**Verafin** $389M · Sept 2019](https://millionrounds.com/company/verafin) ## On podcasts 2 episodes naming Spectrum Equity in the title, and 4 more that mention it. - [Growth Investor](https://millionrounds.com/podcasts/growth-investor) 27 Nov 2024 · 27 min Leaders in Healthcare Growth Investing: Spectrum Equity’s Jeff Haywood and Steve LeSieur With [Jeff Haywood](https://millionrounds.com/person/jeff-haywood)[Steve LeSieur](https://millionrounds.com/person/steve-lesieur) Mentions [Spectrum Equity](https://millionrounds.com/fund/spectrum-equity)[Thoma Cressey Equity Partners](https://millionrounds.com/fund/thoma-cressey-equity-partners)[Thomas Weisel Partners](https://millionrounds.com/fund/thomas-weisel-partners) *+1* Apple PodcastsShow page - [Growth Investor](https://millionrounds.com/podcasts/growth-investor) 16 Nov 2022 · 25 min The Investor Instinct: Spectrum Equity’s Ben Spero With [Ben Spero](https://millionrounds.com/person/ben-spero) Mentions [Spectrum Equity](https://millionrounds.com/fund/spectrum-equity) Apple PodcastsShow page ### Mentioned in - [Growth Investor](https://millionrounds.com/podcasts/growth-investor) 1 May 2024 · 28 min Tech Growth Investor: KKR’s Jake Heller Apple PodcastsShow page - [Growth Investor](https://millionrounds.com/podcasts/growth-investor) 21 Sept 2022 · 20 min Conquering The Knowledge Economy: Kajabi President Sean Kim Apple PodcastsShow page - [Growth Investor](https://millionrounds.com/podcasts/growth-investor) 28 Feb 2022 · 24 min The Great Outdoors, Tech-Enabled: AllTrails CEO Ron Schneidermann Apple PodcastsShow page - [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 9 Mar 2020 · 38 min 20VC: Matt Mochary, Coach To Silicon Valley's Leading VCs & Founders on How To Deal with Imposter Syndrome and Self-Doubt, How To Manage Fear and Anger & Why Board Seats Are The Death of Investors Apple PodcastsShow page ## Quick answers about Spectrum Equity ### What does Spectrum Equity invest in? Spectrum Equity invests most often at Growth and Series B (48% of the rounds on record), in sectors such as Collaboration Tools, Recurring and SaaS. ### How active is Spectrum Equity? 55 investments on record, 2 of them in the last 12 months, and it led 4. The most recent was in Sept 2026. ### What has Spectrum Equity invested in recently? Its most recent investments on record: Xapien (Series B, Sept 2026), Splose (Series A, Feb 2026) and Lighthouse (Series C, Nov 2024). ### How big are Spectrum Equity's cheques? The median round it joins is $62M. ### Does Spectrum Equity lead rounds? Sometimes: it led 4 of its 55 investments on record (7%). ### Where does Spectrum Equity invest? Most of the companies it backs are in the United States (77%), the United Kingdom (10%) and Canada (8%). ### Is Spectrum Equity investing now? Yes: it is actively investing, with 2 investments in the last 12 months. ### Who does Spectrum Equity invest alongside? Most often 3i Group (4 rounds together), Goldman Sachs (4 rounds together) and Oak Investment Partners (4 rounds together). ## Raising now? Find the investors who back rounds like yours, and keep every conversation on one fundraising board. Find similar investorsOpen your CRM Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=spectrum-equity) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=spectrum-equity)