PA-based PennSpring Capital Acquired Zirtual. The deal’s total value was not made public. Services for virtual assistants are provided by Zirtual.
With college degrees, all virtual assistants are US-based and perform a variety of duties like social media strategy, data entry, managing expenses, invoicing, research, event organising, and booking travel, among other things.
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Zirtual was selected as the “Best for Bookkeeping and Financial Management” and featured in the prestigious U.S. News & World Report list of the “Best Virtual Assistant Services of 2023.”
The acquisition of Zirtual aligns with PennSpring’s investment thesis in business process outsourcing (BPO) and acts as a supplement to its existing holding, the text marketing platform Mobiniti, which offers customer engagement solutions to over 1,000 companies of all sizes and in all industries.
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PennSpring Capital is an investment firm that specialises in possibilities in the lower middle market. It makes investments in creative businesses and assists them in expanding to an institutional size. Since 2018, the company has made fourteen investments, eleven of which have been majority stakes. During that time, the company executed successful exits.
About Zirtual
Zirtual is a successful person’s secret weapon. in life as well as at work. We handle the small details so you have more time to concentrate on the bigger picture. Things like making travel arrangements, paying payments, and setting up meetings.
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About PennSpring
At PennSpring, we facilitate growth, release liquidity, and enhance executive careers. PennSpring is a people-forward investment firm that specialises on lower middle market possibilities. It is based in Lancaster, Pennsylvania. We invest in businesses that have an EBITDA between $1 and $5 million, and we are flexible enough to work with startups who aren’t yet ready for institutional financing.
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