Charlotte-based DealCloud receives $5.3 million in growth financing, names new CEO

Charlotte-based software company DealCloud has completed a round of growth financing totaling $5.3 million to help fuel its global expansion and product development.

DealCloud, an online platform for steamlining mergers and acquisitions, has also named Rick Kushel its new chief executive officer, effective immediately.

The financing deal was led by St. Louis-based Cultivation Capital with participation from Hamilton Lane; Holekamp Ventures; Holton Capital Group; Kushel, the former CEO of iLevel Solutions; and Joe Maxwell, former CEO of Shareholder Insite, DealCloud said in a statement this week.

Kushel joins a DealCloud team that includes President and former CEO Ben Harrison and Chief Operating Officer Rob Cummings, both co-founders of the company.

Kushel, who is based in New York, has over a decade of experience leading and serving in senior roles at software-focused companies in the private market space, DealCloud said.

“This investment comes at the right time in DealCloud’s growth and will help push forward our long-term strategy and enable us to better serve our customers, employees and the industry,” Kushel said.

Harrison and Cummings started DealCloud in 2010 after stepping down from their respective roles at Falfurrias Capital Partners, the Charlotte private equity firm founded by former Bank of America CEO Hugh McColl Jr. and the bank’s former chief financial officer, Marc Oken. McColl was among the first DealCloud investors and advisers.

This story was originally published December 17, 2015 at 8:04 AM with the headline "Charlotte-based DealCloud receives $5.3 million in growth financing, names new CEO."