Inspect Point Announces $28 Million Equity Investment from Mainsail Partners
TROY, NY (January 13, 2022) — Inspect Point, a cloud-based business management software for the fire inspection industry, announced today a $28 million investment from Mainsail Partners, a growth equity firm that invests exclusively in fast-growing, bootstrapped software companies. Founded in 2014 Inspect Point is an end-to-end business solution that strives to enable fire inspection companies to operate more efficiently by supporting the full spectrum of core business functions, from completing inspections to documenting deficiencies, creating service proposals and work orders, generating compliance reports, scheduling and dispatching technicians, communicating with customers and reviewing dashboards.
Utilizing capital invested by Mainsail Partners, Inspect Point intends to invest further in its product to deliver more solutions to address common industry challenges. Fire inspection technicians often struggle with the always growing set of compliance codes, which can vary by type of equipment, jurisdiction and parameters set by local fire marshals. Inspect Point aims to help technicians understand these targets, identify deficiencies more quickly and drive high-margin service revenue more effectively.
Under the leadership of Inspect Point’s CEO and co-founder, Padraic Doyle, the company has built a comprehensive business management suite for fire inspection companies. “We believe we have grown considerably in a relatively short time,” said Doyle, “and we’ve achieved this level of success without any outside capital, which we believe is a testament to the strength of our core product. When considering a partner, we were committed to finding someone who respected our roots and culture and also has experience helping software companies get to the next level of growth. We find that Mainsail Partners fits that profile.”
“We are excited to work with the great team at Inspect Point,” said David Farsai, a Partner at Mainsail Partners. “They have clearly built a robust product with staying power that we believe is well positioned in an attractive market. We look forward to lending our experience and resources to help the company scale.”
Inspect Point’s VP of Strategy, Drew Slocum, is experienced in the fire & life safety industry, which has seen a recent influx of capital and innovation. “As fire protection becomes even more of a priority, we continue to see more companies spring up to support it,” said Slocum, who serves on multiple fire industry associations and hosts The Fire Protection podcast. “While many of these products are launched as either general field service management or point solutions for inspection, Inspect Point’s product covers the full cycle of fire protection work. We believe the timing is perfect to partner with Mainsail, so we can capitalize on the industry’s momentum while we make efforts to broaden our customer base and increase the value of our product.”
About Inspect Point
Inspect Point is a cloud-based solution that facilitates fire protection inspections. The Inspect Point backend, combined with the Inspect Point iPad mobile application, provides companies with the capability to perform and manage their inspection business within a single comprehensive solution. Featuring a library of built-in NFPA & UL-C templates, Inspect Point was created by industry insiders for the fire industry. As technology advances in fire protection, Inspect Point aims to be there
every step of the way.
About Mainsail Partners
Mainsail Partners is a growth equity firm with offices in San Francisco, California, and Austin, Texas, that invests exclusively in fast-growing, bootstrapped software companies. The firm has raised over $1.3 billion and invested in more than 50 growing companies since 2003. Mainsail prioritizes investments in B2B software companies with compelling business models in growing markets. The firm’s approach to driving value creation is anchored in a dedicated Operations Team that
is purpose-built to help founders scale their businesses and accelerate growth. These women and men include former software company operators who leverage real-world experience, well-established best practices, and a true partnership ethos to support management teams. For more information, visit mainsailpartners.com or follow the firm on LinkedIn.