Roslyn Heights, NY – June 24, 2019 – US eDirect Inc. (USE) has secured a strategic investment from Accel-KKR Credit Partners, a fund managed by leading, technology-focused investment firm, Accel-KKR. The funding will be used for growth capital to expand its hiring efforts as USE continues to gain market share in the recreation technology space.
USE provides a highly configurable, SaaS-based revenue management platform for federal, state and local agencies and is sold under the name Recreation Dynamics. The software provides reservation management, point-of-sale, license management and other functionalities to agencies.
“We have worked tirelessly to build a best-in-class product, which has been recognized through new customer wins,” said Tony Alex, CEO and Founder of US eDirect. “Recreation Dynamics is the most innovative product, coupled with the best customer service, on the market. We take our responsibility to serve our clients very seriously, therefore we were seeking a financial partner to help us scale. This investment from Accel-KKR will allow us to expand our team to ensure we remain dependable to our current and prospective customers.”
“Recreation Dynamics manages millions of dollars of revenue for its customers, which makes it absolutely mission critical,” said Samantha Shows, Managing Director and Head of Credit Investing at Accel-KKR. “Unlike competitors in the space, USE recognizes that each agency has different needs which is why they invest in their customization efforts. USE is truly looking to be a long term, value-added partner for its customers. This has led the company to be incredibly successful at retaining its customers and winning new mandates. We are excited to back this business as they continue to grow their footprint.”
This marks the sixteenth investment for Accel-KKR Credit Partners.
View Partners Capital LLC acted as the financial advisor and placement agent to USE.
Accel-KKR is a technology-focused investment firm with over $5 billion in capital commitments. The firm focuses on software and IT-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London.
About US eDirect
Founded in 1999 and headquartered in Roslyn Heights, NY, US eDirect provides its software, Recreation Dynamics, to government agencies to manage revenue from camping, golfing, licensing, and other recreational activities. The software has evolved from a reservation management system to a workflow management software with a fully integrated, PCI compliant, payments solution. Recreation Dynamics can be highly configured to address various use cases and provides a KPI dashboard through Tableau.