K1 to Exit Subsplash in Strategic Sale to Roper Technologies
Roper Technologies (NASDAQ: ROP) has entered into a definitive agreement to acquire Subsplash, a portfolio company of K1 Investment Management. Subsplash is an AI-powered engagement platform serving over 20,000 faith-based organizations worldwide with integrated solutions for mobile apps, media delivery, digital giving, and church management tools.
Since K1's initial investment in 2019, Subsplash has achieved remarkable growth, with annual recurring revenue increasing approximately 7x. The company has expanded its product capabilities, particularly in live streaming, church management, and AI-powered content. This marks K1's fifth exit to a strategic buyer and third to a publicly traded company in the past year.
Roper Technologies (NASDAQ: ROP) ha firmato un accordo definitivo per acquisire Subsplash, una società del portafoglio di K1 Investment Management. Subsplash è una piattaforma di engagement basata sull'intelligenza artificiale che serve oltre 20.000 organizzazioni religiose in tutto il mondo, offrendo soluzioni integrate per app mobili, distribuzione media, donazioni digitali e strumenti di gestione ecclesiastica.
Dall'investimento iniziale di K1 nel 2019, Subsplash ha registrato una crescita straordinaria, con un aumento del fatturato ricorrente annuo di circa 7 volte. L'azienda ha ampliato le sue capacità di prodotto, in particolare nello streaming live, nella gestione delle chiese e nei contenuti potenziati dall'IA. Questo rappresenta la quinta uscita di K1 verso un acquirente strategico e la terza verso una società quotata in borsa nell'ultimo anno.
Roper Technologies (NASDAQ: ROP) ha firmado un acuerdo definitivo para adquirir Subsplash, una empresa del portafolio de K1 Investment Management. Subsplash es una plataforma de compromiso impulsada por IA que atiende a más de 20,000 organizaciones religiosas en todo el mundo, con soluciones integradas para aplicaciones móviles, distribución de medios, donaciones digitales y herramientas de gestión eclesiástica.
Desde la inversión inicial de K1 en 2019, Subsplash ha experimentado un crecimiento notable, con ingresos recurrentes anuales que aumentaron aproximadamente 7 veces. La compañía ha ampliado sus capacidades de producto, especialmente en transmisión en vivo, gestión de iglesias y contenido potenciado por IA. Esta es la quinta salida de K1 a un comprador estratégico y la tercera a una empresa que cotiza en bolsa en el último año.
Roper Technologies (NASDAQ: ROP)는 K1 Investment Management의 포트폴리오 회사인 Subsplash를 인수하기 위한 최종 계약을 체결했습니다. Subsplash는 전 세계 20,000개 이상의 신앙 기반 조직에 모바일 앱, 미디어 전달, 디지털 기부 및 교회 관리 도구를 통합한 AI 기반 참여 플랫폼을 제공합니다.
2019년 K1의 초기 투자 이후 Subsplash는 연간 반복 수익이 약 7배 증가하는 등 놀라운 성장을 이루었습니다. 회사는 라이브 스트리밍, 교회 관리 및 AI 기반 콘텐츠 분야에서 제품 역량을 확장했습니다. 이는 지난 1년간 K1의 다섯 번째 전략적 매각이자 세 번째 상장회사 매각입니다.
Roper Technologies (NASDAQ : ROP) a conclu un accord définitif pour acquérir Subsplash, une société du portefeuille de K1 Investment Management. Subsplash est une plateforme d'engagement alimentée par l'IA, desservant plus de 20 000 organisations religieuses dans le monde, avec des solutions intégrées pour les applications mobiles, la diffusion de médias, les dons numériques et les outils de gestion d'église.
Depuis l'investissement initial de K1 en 2019, Subsplash a connu une croissance remarquable, avec un chiffre d'affaires récurrent annuel multiplié par environ 7. L'entreprise a étendu ses capacités produits, notamment dans le streaming en direct, la gestion d'église et le contenu alimenté par l'IA. Il s'agit de la cinquième sortie de K1 vers un acquéreur stratégique et de la troisième vers une société cotée en bourse au cours de la dernière année.
Roper Technologies (NASDAQ: ROP) hat eine endgültige Vereinbarung zum Erwerb von Subsplash getroffen, einem Portfoliounternehmen von K1 Investment Management. Subsplash ist eine KI-gestützte Engagement-Plattform, die über 20.000 glaubensbasierte Organisationen weltweit mit integrierten Lösungen für mobile Apps, Medienbereitstellung, digitale Spenden und Kirchenmanagement-Tools bedient.
Seit der Erstinvestition von K1 im Jahr 2019 hat Subsplash ein bemerkenswertes Wachstum erzielt, mit einem etwa 7-fachen Anstieg des jährlichen wiederkehrenden Umsatzes. Das Unternehmen hat seine Produktfähigkeiten insbesondere im Bereich Live-Streaming, Kirchenmanagement und KI-gestützte Inhalte erweitert. Dies ist der fünfte Exit von K1 an einen strategischen Käufer und der dritte an ein börsennotiertes Unternehmen im vergangenen Jahr.
- Annual recurring revenue (ARR) grew approximately 7x since K1's investment in 2019
- Strong market position with over 20,000 faith-based organizations as customers
- Successful expansion of product capabilities including AI-powered features
- Deal represents strategic growth opportunity under Roper Technologies' ownership
- No financial terms of the acquisition were disclosed
Insights
Roper's acquisition of Subsplash strengthens its software portfolio with a high-growth religious tech platform showing 7x ARR growth.
Roper Technologies is expanding its software portfolio through the acquisition of Subsplash, a high-growth AI-powered engagement platform serving over 20,000 faith-based organizations. This transaction aligns with Roper's strategic focus on acquiring asset-light, high-margin software businesses with recurring revenue models.
The acquisition target has demonstrated impressive financial performance, growing its annual recurring revenue by approximately 7x since K1's initial investment in 2019. This growth trajectory suggests Roper is acquiring a business with strong momentum and established product-market fit in the religious technology sector.
Subsplash's platform combines several high-value components including digital giving (payments), media delivery, and church management tools - creating multiple revenue streams with likely high margins and retention rates typical of integrated software platforms. The mention of "increasing payment attachment rates" indicates a successful monetization strategy that Roper can potentially scale further.
This acquisition represents Roper's continued execution of its capital deployment strategy - targeting niche software leaders with defensible market positions. For Roper shareholders, this transaction likely provides entry into a specialized market with limited competition while diversifying the company's revenue streams across another vertical market.
Transaction Marks K1's Fifth Exit to a Strategic Buyer and Third to a Publicly Listed Company in the Last Year
Subsplash, co-founded in
Following K1's initial investment in 2019, Subsplash has significantly expanded its product capabilities, go-to-market strategy, and monetization engine – organically growing annual recurring revenue (ARR) by approximately 7x from the fiscal year prior to investment. Subsplash transforms church engagement by creating an all-in-one AI platform that seamlessly integrates giving, media, and community connection. Over the course of the partnership, the company has introduced new features across live streaming, church management, and AI-powered content — strengthening their position as a category-leader while accelerating payment attachment rates and increasing platform adoption among existing users.
"This exit underscores K1's focus on backing founder-led companies and scaling them into category leaders," said George Mansour, Partner at K1. "Subsplash is a prime example of what's possible with the right mix of mission, market, and management. In an environment where liquidity has been scarce, this outcome demonstrates the strength of the Subsplash business – and ensures that its customers will continue to benefit from long-term investment, innovation, and platform continuity under a top-tier company like Roper."
"K1 was an invaluable partner on this journey. They brought deep domain knowledge and strategic clarity to the table, empowering our team to scale operationally while staying rooted in our mission," said Tim Turner, CEO of Subsplash. "We're thrilled to join Roper, whose commitment to long-term platform growth and innovation aligns perfectly with our vision. This next chapter will allow us to serve our customers even better, expanding the ways we help organizations connect with their communities and share life-changing content."
The sale of Subsplash marks K1's fifth exit to a strategic buyer and third to a publicly traded acquirer in the past year, a strong pace given broader market conditions. Notable recent realizations include Irwin (sold to FactSet), GoCanvas (sold to Nemetschek Group), and Axcient (sold to ConnectWise, a Thoma Bravo portfolio company), which contributed to a record year of distributions for K1 in 2024. This transaction also marks K1's third realization in 2025. No investment bankers were involved in the exit to Roper and the deal was originally sourced directly by K1's in-house business development team – underscoring both K1's differentiated sourcing model and its connectivity to strategic buyers in enterprise software.
About Subsplash
Subsplash is an industry leader in SaaS, fintech, and AI with an award-winning digital engagement platform used by over 20,000 leading churches and ministries around the world. Subsplash is passionate about helping mission-minded organizations engage their audiences through centralized, easy-to-manage systems. As the creators of the Ultimate Engagement Platform™, they're dedicated to delivering delight to millions of people through custom mobile apps, AI, websites, live streaming, media hosting and delivery, online giving, events, church management, communication tools, and more. Additional information about Subsplash is available on the Company's website at www.subsplash.com.
About K1
K1 is one of the largest investors in small-cap enterprise software companies. Dedicated to transforming lives and industries by building category leaders in enterprise software, K1 has invested in over 250 companies since inception. Headquartered in
K1's exclusive focus, driven by its single team, single office, and single fund strategy, has resulted in realizations for many of its portfolio companies. Examples include Apttus (sold to Thoma Bravo), Axcient (sold to Connectwise, backed by Thoma Bravo), Buildium (sold to RealPage), Certent (sold to insightsoftware, backed by TA Associates and Genstar), Checkmarx (sold to Insight Partners and Hellman & Friedman), Clarizen (sold to Planview, backed by TA Associates and TPG Capital), FMG Suite (sold to Aurora Capital Partners), GoCanvas (sold to Nemetschek Group), Granicus (sold to Vista Equity Partners and Harvest Partners), Inthinc (sold to Orbcomm), Irwin (sold to FactSet), Litera (sold to Hg Capital), Rave Mobile Safety (sold to TCV; now owned by Motorola Solutions), Subsplash (sold to Roper Technologies, NASDAQ: ROP), Unified (now owned by iHeartMedia), WorkForce Software (sold to Insight Partners, now owned by ADP) and Zapproved (sold to Exterro, backed by Leeds Equity).
For more information, visit k1.com and follow K1 Investment Management on LinkedIn.
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SOURCE K1 Investment Management
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