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ARES PRISM Attracts Strategic Investment from M33 Growth and Welcomes New CEO Ryan Kubacki
Wednesday, November 24, 2021
The investment is intended to amplify growth, support ongoing customer success, and accelerate product innovation for the project cost controls software provider
BURLINGAME, Calif., Nov. 16, 2021 /PRNewswire/ -- ARES PRISM, a leading provider of enterprise project controls software used globally for project cost management and earned value reporting, announced it has secured an investment from M33 Growth, a Boston-based venture and growth-stage investment firm. The company has also hired Ryan Kubacki as its new CEO following the retirement of founder Richard Stuart.
ARES PRISM's project management software delivers dependable forecasting, project cost control, and performance measurement to leading global organizations in a variety of capital-intensive industries including engineering and construction, infrastructure, oil and gas, mining, energy, and utilities. The company's robust and flexible platform enables customers to more effectively manage capital projects, programs, and portfolios with more frequent and more accurate reporting, as well as improved change management controls. ARES PRISM's software solutions help enterprises deliver their capital projects on-time and within budget by streamlining workflows and improving transparency
M33 Growth partners with founders and CEOs to help organizations break through as industry leaders. M33's investment will accelerate the company's product development and help scale the organization to a new level of growth. The company will continue to enhance its value proposition and product while living up to its reputation as a leading, customer-centric software provider with exceptional domain expertise.
"Stakeholders in large construction and engineering projects are more sophisticated than ever before and are eager to adopt innovative technologies. In particular, project cost controls software provides mission-critical solutions to increase project performance visibility and prevent cost overruns, while enabling enterprises to more effectively manage project timelines. We see tremendous long-term opportunity for ARES PRISM to enable enterprises to reduce project costs and risk through improved visibility and workflows," said Mike Anello, Co-Founder of M33 Growth. "ARES PRISM has built an exceptional brand and platform by leveraging its strong domain expertise and focus on customer satisfaction. We're excited to partner with ARES PRISM to support the company's continued development of leading project management software solutions for global organizations in capital-intensive industries."
With the retirement of founder, Richard Stuart, ARES PRISM welcomes Ryan Kubacki as its new CEO. Kubacki is a seasoned C-level enterprise software executive with a successful track record of growth and innovation. He has held leadership roles at several enterprises including Flexera Software, Microsoft, and Holden International. Most recently as Chief Revenue Officer of Flexera, Kubacki led the global organization of 400 employees responsible for customer experience, sales and professional services.
"I am ecstatic to partner with M33 and work with ARES PRISM's fantastic team, customers and partners, as we build upon a track record of more than 25 years of helping organizations solve project management challenges," said Ryan Kubacki. "Right out of the gate, I will be diving into how we can both broaden and deepen our customer value proposition through enhanced product development to ensure ARES PRISM continues its success as the market's leading project cost management and project controls software."
About ARES PRISM
ARES PRISM is award-winning enterprise project controls software that manages the complete project lifecycle delivering dependable forecasts, cost control, and performance measurement. PRISM is a scalable, robust and intuitive system that harnesses industry best practices and integrates all aspects of the project, including cost and schedule, change management, estimating, earned value, contracts & procurement, and field progressing. Business intelligence reports and dashboards provide organizations with the transparency required to pinpoint potential problems and make strategic decisions. Achieve superior project management with increased visibility and control, boosted accuracy and efficiency, and improved financial performance. Learn more at aresprism.com.
About M33 Growth
M33 Growth is a venture and growth-stage investment firm that partners with founders and CEOs who have successfully bootstrapped their companies to strong growth and are positioned to rapidly scale their companies and breakthrough as market leaders. With deep experience fueling sales and marketing engines, driving acquisitions, and building value through data assets, M33 Growth seeks to propel portfolio companies to succeed in their markets. Founded by veterans of renowned investment firms with considerable operational experience, the Boston-based firm seeks to invest in companies in the software, healthcare, and services sectors throughout North America. Learn more at m33growth.com.
MEDIA CONTACT: Tiffany Minegar, 925-322-8899, prisminfo@aresprism.com
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SOURCE ARES PROJECT MANAGEMENT LLC
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