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Aeris Partners Serves as the Exclusive Financial Advisor to Formstack

Aeris Press Release / November 2021

BOSTON, MA (November 18, 2021)Aeris Partners is pleased to announce Formstack, a leading provider of SaaS no-code workflow and business process automation solutions, has received a $425 million growth equity investment led by Silversmith Capital Partners and returning investor PSG. The investment will help Formstack accelerate its go-to-market sales expansion and product development initiatives, all in support of its rapid organic growth and ongoing global market adoption.

Aeris Partners served as the exclusive financial advisor to Formstack.

Formstack’s scalable suite of cloud-based, no-code workplace productivity solutions empowers non-technical workers to automate manual processes and workflows. The Company’s industry-leading platform serves more than 25,000 SMB and enterprise organizations throughout the U.S. and more than 120 countries worldwide. Formstack’s no-code solutions can be rapidly configured and deployed to help non-technical workers manage complex form generation, data collection, document generation and eSignature workflows.

“Formstack’s integrated no-code business process automation solutions are truly powerful and best-in-class. Formstack’s unwavering commitment to product innovation – and to the ongoing success of its clients – is fueling Formstack’s record growth and momentum,” said David Joncas, Managing Director at Aeris Partners.  “PSG and Silversmith are world-class organizations and we’re excited for Formstack as it executes on its next phase of growth.”

“Formstack’s no-code platform addresses a critical, ubiquitous need to automate digital business processes and empower non-technical employees” said Garin Arevian, Managing Director at Aeris Partners. “Formstack is ideally positioned as a leading no-code business process automation solution provider and we are delighted that management and PSG have found a great new partner in Silversmith.”

About Formstack

Formstack is a secure workplace productivity platform built to produce ingenious solutions to the everyday work that slows organizations down. From eliminating paper forms to breaking digital silos, Formstack empowers anyone to quickly and easily build custom forms, create documents, and collect eSignatures – all without code. Launched in 2006, Formstack is trusted by over 25,000 organizations worldwide – including Cleveland Clinic, NHL, Netflix, Twitter, and Butler University – to digitize what matters, automate workflows, and fix processes.

About PSG

PSG is a leading growth equity firm that partners with middle-market software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities, and build strong teams. Having backed more than 85 companies and facilitated over 325 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, and London.

About Silversmith Capital Partners

Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $2.0 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. Representative investments include ActiveCampaign, Appfire, Centauri Health Solutions, DistroKid, Impact, Iodine Software, LifeStance Health, Panalgo, Unily, Upperline Health, Validity, and Webflow. The firm’s partners have served on the boards of numerous successful growth companies, including ABILITY Network, Archer Technologies,, Liazon, Liberty Dialysis, MedHOK, Passport Health, SurveyMonkey and Wrike.

About Aeris Partners

Aeris Partners provides premium strategic M&A advisory services to Best-in-Class software and Software-as-a-Service (SaaS) companies, private equity investors, and venture capital firms spanning a range of high-growth vertical markets including healthcare (HCIT), financial technology (FinTech), architecture, engineering and construction (AEC), education (EdTech), analytics, transportation and logistics, and the public sector, among others. Aeris leverages extensive technology domain expertise and an unparalleled commitment to delivering superior M&A outcomes on every transaction. The firm’s senior leadership team has successfully completed more than $30 billion of M&A advisory assignments to date. For more information, please visit:

Aeris Partners LLC is a registered broker-dealer and member of FINRA and SIPC.