Raising Retail Success with Innovative SaaS Solutions

A Massive Market Opportunity

AN UNDERSERVED, ESTABLISHED MARKET
HomeSource sells business management software solutions for appliance and furniture retailers, a $1.7 billion addressable market eager to enter the technology era.

SIGNIFICANT POTENTIAL FOR OPERATIONAL ENHANCEMENT
These retailers are largely underserved from a tech standpoint, relying on antiquated and disparate systems that restrict efficiency and growth.

A NEED FOR A LEADER
Technology providers serving these industries are fragmented and there is no dominant player, creating a clear opening for HomeSource to emerge as the leader.

HIGH POTENTIAL WITH OUR PARTNERSHIP
NewSpring Growth has considerable experience supporting SaaS businesses and will leverage the team's operational expertise, network, and thesis-driven approach to find opportunities for growth.

Leveraging Our Direct Sourcing Model

NewSpring Growth is supported by experienced technology investors who leverage a thesis and data-driven approach to identify opportunities within our targeted thesis areas. Our direct sourcing model led us to find HomeSource, a company that represents exactly the type of business NewSpring Growth targets for investment.

THE RIGHT BUSINESS	At investment, HomeSource was bootstrapped with solid fundamentals. It was already operating profitably with capital efficiency and had considerable room for futher growth.
THE RIGHT OFFERING	HomeSource's technology offering is a true game changer for its customers. It is custom-built for appliance and furniture retailers and includes specific capabilities that help these companies gain efficiencies and move more merchandise.
THE RIGHT LEADERS	Co-founders Jim White and Greg White are passionate about the business, intimately connected with their custoemrs, and closely aligned with our vision to take HomeSource to new levels of growth.

Accelerating Growth

We're taking a disciplined approach to enhancing HomeSource in the areas that will create the most impact.

1. STREAMLINE SALES & PRICING
We conducted a third-party pricing sensitivity analysis and developed a new pricing model better suited to market expectations. With this new model in place, we're building a direct sales team that will leverage a targeted and systematic approach to new business.

2. IMPROVING NEW CUSTOMER IMPLEMENTATION
We hired a VP of Services from our network to unclog bottlenecks in customer onboarding and vastly improve the company's scalability.

3. POWERING PAYMENTS
After identifying an opportunity to grow payments revenue, we sourced two individuals from our network who are helping consult the company on selecting a new payments partner and negotiating preferred terms.

4. ENHANCING EXPERTISE
Shortly after investing, NewSpring Advisory Partner Larry Berran was named Executive Chairman. Larry is an experienced tech veteran and former CEO with a long history working alongside NewSpring to grow tech companies.

Experienced SaaS Investors

As thesis-driven investors, we gain an intimate knowledge of the market and find growth opportunities where others don't think to look. We have a deep understanding of the vertical SaaS market in which HomeSource operates, which not only led us to discover the opportunity but enabled our team to quickly put our proven approach to work.

A prime example of NewSpring's experience in the space includes the Firm's investment in iPipeline, a leading provider of cloud-based software solutions for the life insurance industry. Here's what we did: