Long Ridge Equity Partners invests in unclaimed property specialist MarketSphere
- Kevin Bhatt and Devin Stearns of Long Ridge will join MarketSphere’s board of directors
- Long Ridge manages more than $1.7 billion in committed capital
- The investment will fund product development and expanded sales and marketing capabilities
Long Ridge Equity Partners has made a growth investment in MarketSphere Unclaimed Property Specialists, an Atlanta-based provider of unclaimed property compliance solutions, for undisclosed terms.
MarketSphere, founded in 2002 and formally known as MarketSphere Consulting, offers technology-enabled services including annual compliance reporting, advisory and audit support, owner reunification, and corporate asset recovery.
The company will use the investment to accelerate product development, expand its sales and marketing capabilities, and continue investing in its platform, people, and client service.
Long Ridge is a private investment firm focused on the financial and business technology sectors, founded in 2007. The firm has backed a number of growth companies in those sectors, providing management teams with capital and strategic resources.
Kevin Bhatt, managing partner at Long Ridge, said the unclaimed property market is “at an important inflection point as growing complexity and outdated manual workflows create an increasing need for modern, technology-enabled solutions.” Bhatt said Long Ridge is “excited to support their vision for expanding MarketSphere’s capabilities and extending its leadership in the market.”
As part of the investment, Bhatt and Devin Stearns of Long Ridge will join MarketSphere’s board of directors.
Editor’s note: This news brief was produced with the assistance of artificial intelligence.
