Marlin Equity Partners has paid an undisclosed amount to take a majority share of Salesforce Ventures-backed app development platform Skuid.
Investment firm Marlin Equity Partners has acquired a majority stake in Skuid, a US-based cloud application development software provider backed by enterprise software producer Salesforce.
Marlin provided an undisclosed amount of growth funding for Skuid in addition to a majority recapitalisation. The company has not disclosed the status of the investments of Salesforce or its other backers.
Skuid has created a software platform with more than 5 million users that can be used to develop enterprise applications without requiring coding knowledge.
Salesforce provided an undisclosed amount of seed capital for the company in 2014 through its Salesforce Ventures unit, before private equity firm K1 Investment Management led its $6.6m series A round two years later.
Multi-family office Iconiq Capital led a $25m series B round for Skuid in early 2017 that also featured private equity firm K1 Investment Management. Both are still listed as investors on Skuid’s website without Salesforce Ventures, though the latter includes Skuid on its portfolio page.
