Bow River Capital, a Denver-based alternative asset manager, today announced its Software Growth Equity Team has completed the strategic acquisition of meQuilibrium (“meQ”) the global leader in proactive workforce mental health and performance management solutions. This strategic merger further strengthens its cloud-based solutions: addressing employer / employee mental health risks with predictive analytics and digital programming; innovative talent development systems and listening software for frontline workers, corporate staff, managers, C-suite leaders for both the private and public sector; and pulse surveys, real-time analytics specifically designed for state and local law enforcement, and all types of staffers in the DOD.
This merged company’s global personnel will be dual headquartered in Denver and Boston, led by meQ Founder and CEO Jan Bruce with support from veteran tech leader Steve Foster, serving as Chairman and Head of Revenue Growth; both executives will serve on the Company’s Board of Directors.
Jan Bruce, Founder and CEO of meQ, states, “we are thrilled to work with Bow River’s Software experts, who shared our technological vision with deep domain expertise in the HCM sector and the proven track record to support our Client-First mission and solutions.” Jan then says, “meQ is competitively distinguished in the employer mental health and resilience landscape for its focus on solving key HR business problems negatively impacting business execution like unwanted attrition, unplanned leave, and productivity impairment, while also delivering proactive and sustainable prevention for all employees globally.”
Maitlan Cramer, Managing Director for Bow River Capital’s Software Growth Equity Team added, “John Raeder and I are focused on thematically allocating our SGE fund’s growth capital into leading SaaS firms solving the most complex, compliance-centric use cases in HCM and mission critical vertical SaaS businesses.” Maitlan further states, “we have developed an operational playbook adapted from two decades of pattern matching with leading global organizations focused on driving down today’s rapidly escalating healthcare costs correlated to workforce mental health risks and employee disengagement; unifying meQ and RippleWorx’s infrastructure, product roadmaps, and intelligent AI solutions foots to our HR Tech investment thesis.”
Steve Foster, CEO of RippleWorx, states, “with robust, secular momentum and significant growth capital from Bow River, I’m excited to work with Jan and the meQ team on solving Global 2000 organization’s number one priority focused on the war on talent and enabling the world’s best run organizations to become competitively advantaged with their thriving global talent pools, mitigating the risks of mental health and employee disengagement.”
Morrison & Foerster LLP served as legal counsel to Bow River Capital and RippleWorx in connection with the transaction. Wipfli served as financial and tax due diligence to Bow River Capital and RippleWorx in connection with the transaction. Piper Sandler served as financial advisor to meQuilibrium.
