VentureSouth company makes successful exit

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Ecomdash, a portfolio company of Greenville-based VentureSouth, has been acquired. Based in Charlotte, Ecomdash provides software to help retailers successfully manage their inventory across multiple channels.

The company announced Tuesday that it had reached an acquisition agreement with Endurance International Group Holdings Inc., a platform of brands, including Constant Contact, that gives small business owners the tools they need to establish and build their web presence, according to a news release.

VentureSouth first invested in Ecomdash a year ago. This is VentureSouth’s second successful exit in 2019, and fifth in the last 18 months. The $9.6 million Ecomdash asset purchase generated returns for VentureSouth investors in line with the group’s target 50% rate of return hurdle, the release said.

Earlier this year, VentureSouth portfolio company Cirtemo was acquired by Thor Labs.

“Nick Magolsky and the Ecomdash team have worked extremely hard since VentureSouth’s investment to build the company and identify the right strategic acquirer for its next phase of rapid growth,” Charlie Banks, VentureSouth managing director, said in the release. “We are delighted that Ecomdash has agreed to an ‘early exit’ for our members, and we wish Nick and his team every success in the future.”

The transaction is expected to close on or before Oct. 1.