Performant Capital, a Chicago-based private equity firm focused on investments in technology-driven companies, announced today that it has acquired Design Manager from 1stDibs (NASDAQ:DIBS), a leading marketplace for extraordinary design. Design Manager is a leading project management and accounting software company for the interior design industry.
Founded in 1984, Design Manager has been serving top interior design firms for more than 40 years. The company offers a comprehensive software workflow solution and clients use the platform to manage design projects totaling $2 billion in billings annually. The Design Manager product offers a feature set that is uniquely suited to improve efficiency and increase profitability for interior design firms.
“Design Manager is a comprehensive product and serves a group of customers who represent the very best in the interior design industry. We are excited to provide an investment in this technology platform to deliver an even better product for the customer base,” said Jeff Dillon, Partner at Performant Capital.
“Design Manager has been a strong performer since we acquired the business in 2019. Given our focus on areas like auctions and international expansion, we made the decision to seek an owner who is both able and excited to increase investment in Design Manager. We are thrilled to have found that in Performant Capital. The firm has researched the market opportunity thoroughly and intends to invest in the business to ensure its continued success,” said David Rosenblatt, CEO of 1stDibs.
Performant continues to look for best-in-class software platforms in the interior design space that would expand the Design Manager offering.
