As an entrepreneur who successfully transitioned a bootstrapped Calgary-based company into a scaled global enterprise, Owens will provide strategic support to the growth equity firm and its portfolio.
“We were fortunate to partner with Mike as Absorb Software’s first institutional investor in 2017, and were so impressed with his leadership as he grew the business into a category-leading company,” said Jim Quagliaroli, Managing Partner of Silversmith.
“Under Mike’s direction, Absorb Software more than tripled its ARR to $50+ million, grew its customer base to 1,400 customers in 34 countries, and successfully integrated four accretive acquisitions. We are excited to have him join us as a Senior Advisor. His expertise will be a significant asset to founders and CEOs in the Silversmith portfolio as they look to accelerate their growth.”
In May 2021, Absorb was acquired by Welsh, Carson, Anderson & Stowe (WCAS).
Prior to founding Absorb Software, Owens served as a Lieutenant Colonel in the Canadian Armed Forces for 24 years. After leaving the military, he found his second career creating education content for corporate employee development programs, which ultimately led him to founding Absorb Software.
Silversmith has a successful history of investing in Canadian growth companies. In addition to Absorb Software, the firm served as first institutional investor in Vancouver-based Apryse (formerly PDFTron).