Intapp acquires DealCloud for CRM quest
Intapp has acquired CRM provider for investment and private banking DealCloud, whose previous investors include Fintop Capital, Hamilton Lane and Cultivation Capital.
Intapp aims to create a vertical industry platform for the professional services sector, addressing the needs of professional services and capital markets firms across the client lifecycle.
“There are a lot of moving parts when private equity firms, investment banks, lawyers, accountants, consultants and other advisory professionals work together to manage client transactions, projects and outcomes successfully”, says John Hall, CEO of Intapp.
The acquiring firm says the solutions are designed to help firms win and grow clients, manage risk and compliance, and deliver services and outcomes.
“Today’s leading capital markets firms are supported by a global network of legal, accounting and consulting firms that provide essential professional services to enable deal success. Firms in these industries share the same go-to-market and deal execution process with clients,” says Rick Kushel, CEO of DealCloud.
According to Kushel, it’s clear that traditional CRMs based on the classic sales department pipeline model haven’t worked in professional services firms. Partners in firms don’t use them because these CRMs don’t match the way they actually develop client relationships.
Financial details were not disclosed.