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Our business is growing great companies

We help forward-thinking technology companies grow and scale.

Our Commitment Values Investment Criteria Strategies

Our Commitment

Level creates sustainable enterprise value growth.

Our entire investment platform is built from the ground up to identify, target, and invest in capital-efficient growth technology companies and to help them create long-term growth.

Investment Strategies and Solutions
Anchored by Values

We care deeply - not only about the outcomes we create, but the path we collectively take to get there.

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No playbooks. Ever.

No business is the same. We take a bespoke approach to our partnerships, providing tailored support and guidance to dynamic creators and founders.

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Remain Humble But Ambitious.

Together, we play to win but emphasize winning the right way. We implement strategies that position our founders and team for long-term success. There are no shortcuts to greatness.

Growth Together.

When you win, we win. Our network of experts and advisors help you navigate areas that are critical to building and scaling your business so we all win together.

Our Track Record

Level Equity is now at >100 Investments and we’re not finished yet.

MILESTONE

2009

Level Equity is Founded

Level Equity was formed in 2009 by co-founders Ben Levin, George McCulloch, and Sarah Sommer to support and scale rapid-growth, capital efficient software and technology-enabled businesses in the lower middle market.

MILESTONE

2011

Level Equity Fund I Closes On $130M

Level closed its first fund, Level Equity Growth Partners I in 2011, securing $130 million in committed capital. In the same year, the team grew to eight employees, adding Chris Isaac to its investment team. Level made five new investments including LongBoard Media, Made.com, Radiate Media, Sidewalk and Mixbook.

MILESTONE

2012

Level Equity’s First Liquidity Event With the Sale of Longboard Media Inc.

In November 2012, Level Equity realized its first liquidity event with the sale of Longboard Media Inc., a San Francisco-based media management network for retailers, shopping publishers, and advertisers, to Bazaarvoice. Level also grew to 10 employees and made new investments in Aventri and SHP.

MILESTONE

2013

Level Equity Fund II Closes On $255M

Level completed a $255 million fundraise for its second fund, Level Equity Growth Partners II, and made new investments including BoardEffect and Riskonnect. The team also hired Nate Linn as Chief Operating Officer and welcomed Charles Chen and Arthur Tingas to the investment team.

MILESTONE

2015

Level Equity Launches Its First Opportunities Fund

Level launched its first opportunistic growth fund, Level Equity Opportunities Fund 2015, securing $66 million in committed capital. In the same year, the team grew to 16 employees, welcoming Gautam Gupta, and moved to the 39th floor of 2 Grand Central Tower in NYC. Level also made new investments including TeamDynamix, Vacasa, and Ensenta.

MILESTONE

2016

Level Equity Closes Growth Fund III and Launches Level Structured Capital

Level Equity raised Level Equity Growth Partners III, which totaled $357 million in committments, and launched Level Structured Capital. This launch enabled Level to provide flexible credit and structured equity solutions as an alternative to growth equity or traditional senior credit options. The team also brought on Nick Berardo, Barry Osherow, and Jake Foster to the investment team and made investments in ClubReady, simPro, Vendini, Apogy, and MobileCause, while exiting BoardEffect and Radiate Media.

MILESTONE

2017

Level Structured Capital I Closes First Fund

Level raised its newest fund, Level Structured Capital I, securing $90 million in committed capital. In the same year, the team grew to twenty-one employees and welcomed Chris Barrand. Level made seven new equity investments including Net Health, Stack Construction, CloudCheckr, MemberClicks, TripleSeat, Accelo, and MomentFeed, while exiting Riskonnect, Apogy, ECI, TeamDynamix, Ensenta, and closing recapitalizations at Fusion and Aventri. Level Structured Capital closed investments in Appspace and Swiftpage.

MILESTONE

2018

Level Equity Closes New Funds and Opens San Francisco Office

Level Equity completed a $750 million fundraise for its Level Equity Growth Partners IV and Level Equity Opportunities Fund 2018. The firm grew the team to 24 team members, welcoming Mike Bauer, Vinnie Liberi, and Hanna Yu. Level made new investments in inMotionNow, Instaclustr, Movista, Dash Hudson, Evaneos, VivoAquatics, TeamSupport, Monet Software, Teamwork Commerce, and Visiquate.

MILESTONE

2019

Level Equity Brings On Over A Dozen New Investments and Moves Up in 2GCT

Level Equity brought on seven equity investments including HVR, Lock8, PlanetDDS, FormAssembly, Groove, Powell, and ArchiveSocial, as well as seven Structured Capital investments including BlackBox Intelligence, Blue Ridge Solutions, DialogTech, InteliSecure, Logile, NinjaCat, and PhotoShelter, along with a handful of realizations. Level also moved its NYC office to the 42nd floor of 2 Grand Central Tower, and welcomed Austin Feinstein, Jake Rudolph, and Arin Wolfson to the team.

MILESTONE

2020

Level Equity and Its Portfolio Companies Grow Despite An Unprecedented Year

Level brought on six equity investments including; Vanilla Forums, GovInvest, StarTex, LegWork, Leonardo247, Monsido, as well as five Structured Capital investments including PayGo, Pramata, Rockbot, SightCall, and Task Easy. The Level team was excited to bring on Amy Kramer as an Operating Partner.

MILESTONE

2021

Level Equity Raises $1.125B For New Equity Funds

Level Equity closed Level Equity Growth Partners V and Level Equity Opportunities Fund 2021, securing $775M and $350M respectively in aggregate commitments. Level also announced the launch of NextLevel Operations and opened its Greenwich office. Equity investments in 2021 included SevenFifty, SalesFloor, Sunwave, Mytonomy, Ready Education, HackEDU and more. Structured Capital investments included TicketManager, RamSoft, WeSpire, Revation Systems, and more.

MILESTONE

2022

Level Adds 15 New Investments and Expands NextLevel Operations

Level brought on nine new equity investments in 2022 including Boatsetter, Cheqroom, Foxen, Hoxhunt, Radix, RightData, RocketRez, TeamDynamix (reinvestment), and WorkHound. Level Structured Capital closed six new investments in Blackthorn, Concept3D, ManagmentONE, NinjaCat (reinvestment), Omega Point, and Wellright. We were excited to add 13 new members to the Level team, including three additions to NextLevel Operations, Jennifer Flanagan, Lou Jordano, and Marian Spurrier.

MILESTONE

2023

Level Equity Holds Final Close of Structured Capital II and Executes Over 40 Transactions

Level Equity held the final closing of Level Structured Capital II, securing $157.5 million in aggregate commitments. In 2023, Level executed over 40 transactions, including three new equity investments in SquareWorks, VirtualField, and WorkOtter, and three new Structured Capital investments in Prismm, MachineMetrics, and SimplyInsured. Additionally, there were 37 follow-on investments and seven liquidity events. We welcomed five new members to the Level team, including Ray Carey, to lead our in-house team of domain experts known as NextLevel Operations.

MILESTONE

2024

Level Equity Completes 44 Transactions and Makes Significant Investment in Team

2024 was a busy year at Level with 44 completed transactions. We made 8 new investments (OnPhase, Upshop and clace on the equity side and Legato, Tenovos, FileCloud, Satsifi, and Ninth Wave on structured capital) and achieved 5 exit events across our equity and structured capital businesses. We were also an active follow-on investor into our growing portfolio, deploying the most capital since inception to fund attractive acquisitions. We added 12 talented individuals to our team, expanding our NextLevel Operations team significantly and making our first key hires in Investor Relations and Human Resources. In addition, amongst many other year end promotions, Nick Berardo and Chris Isaac were promoted to Partner. Finally, our ability to execute on our mission of providing flexible capital to exceptional businesses earned recognition again in 2024, including being named to Inc.’s Founder-Friendly Investor list, GrowthCap’s Top Growth Equity list, and being awarded Growth Equity Fund Performance of the Year in the Private Equity Wire US Awards.

MILESTONE

2025

Level Equity Closes $1.4B Across LEGP VI and LEOF 2025

Level Equity closed Level Equity Growth Partners VI and Level Equity Opportunities Fund 2025, securing $1.4B in aggregate commitments. Year to date, Level has made one new equity platform investment, two new structured capital investments and three significant add on acquisitions at the portfolio. Level continues to scale the team, bringing on a new Head of Finance, an Operating Partner focused on Finance and Operations, and six investment team members.

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Our Approach

We proactively engage with cutting-edge businesses to deliver results quickly once you’re ready to partner.

See Approach

Where We Invest

We back founders in rapid growth, technology-enabled software companies who are transforming and innovating the markets they operate in.

01 Transaction Types

We invest up and down the capital structure, providing ultimate flexibility to our founders

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    Minority Growth Capital
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    Majority Growth Equity & Recaps
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    Structured Equity & Credit Solutions

02 Geographies

Our partnerships span the globe, we invest in North America, Europe, Australia, New Zealand, and more

  • North America
  • Europe & Israel
  • Australia & New Zealand

03 Sector Focus

We employ a consistent, intentional, lower middle market software focus

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    B2B Software
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    Focus on non-cyclical industries with growing tech spend & durable business models

Two Unique Investment Strategies

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Growth Equity

Investments intended to optimize a company’s growth potential, where Level works alongside the company’s founders and managers to deliver exceptional outcomes.

  • Includes Level’s Core Growth and Opportunistic Growth Funds
  • Ability to make both minority and majority investments, depending on needs of the company and founders
  • Companies typically have $5M+ of recurring revenue, little institutional capital raised to date, and are run by dynamic founders and managers
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Structured Capital

Flexible credit and structured equity solutions for companies not looking for traditional equity or senior credit options.

  • Structure focused on minimizing dilution with flexible use of proceeds, moderate covenant packages and limited governance
  • Transaction sizes between $3 – $30M
Next: Our Approach
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