Boulder VC firm Rubicon makes majority investments in software providers

BOULDER  — Rubicon Technology Management LLC, a Boulder-headquartered venture-capital outfit that operates as Rubicon Technology Partners, recently made a majority investment in CollegeNET Inc., a higher-education software solutions provider.

“This partnership will help accelerate CollegeNET’s growth and drive continued product innovation across its core offerings,” the companies said in a news release. “Founder Jim Wolfston will continue to lead the business and remain a significant shareholder.”

Terms of the investment deal were not disclosed. 

“CollegeNET is an innovative software business with a strong portfolio of market-leading products that we are proud to invest behind. Under Jim’s leadership, CollegeNET has created a product suite that provides higher education institutions tools to improve efficiency and student outcomes,” Rubicon partner Alex Kleiner said in the release. “We’re excited to partner with CollegeNET as their first significant institutional equity partner during an exciting growth period and help management accelerate growth in the business.”

Rubicon has also made a majority investment in Work Truck Solutions, a software company in the commercial vehicle industry. 

The “investment will further accelerate product initiatives, strengthening relationships with OEMs, upfitters, and dealerships, and helping all stakeholders drive growth and profitability,” the companies said in a release.

Terms of the Work Truck Solutions were not disclosed.

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