Full Purple leadership team stays on as rapid growth continues, with new investment to continue developing offering that helps organizations anticipate, navigate and compel change.
Purple is pleased to announce it has welcomed the first strategic investment in the firm’s history, from WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies. Purple’s Co-Founders Steve McMahon and Alex Castellanos, Managing Partner Kristen Morgante, and all other Purple partners remain in their roles leading the firm as it continues to rapidly grow on the strength of its offering as strategic reputation partner to Fortune 500 companies and some of the most recognizable brands in the world.
“This investment is both recognition of the success Purple has built and enjoyed thus far as well as fuel for the next phase of our firm’s growth,” Purple CEO Steve McMahon said. “CEOs are feeling pressure from a new mix of stakeholders who expect companies to be their best selves, and it takes the unique blend of political, brand and reputation strategies Purple offers for companies to meet the moment. This is an external partner seeing the strength and relevance of Purple’s work helping organizations and executives address their toughest challenges. And it’s a power source allowing us to leverage their expertise in operationally scaling our firm for the next stage of our journey.”
“We are thrilled to partner with Steve, Kristen, Alex, and the rest of the Purple team,” said Jonathan Hunnicutt, General Partner at WestView. “We seek to invest in pioneering companies and Purple has demonstrated that it is in a category of one with its differentiated strategy, capabilities and approach in the market. The pace of change has never been faster, and it’s clear C-suite executives’ need for a trusted partner like Purple to navigate the issues they are facing has never been greater.”
“Purple is a place and team that some of the largest corporations in the world trust with their future,” Purple Chairman Alex Castellanos said. “This partnership with WestView is a signal to our team members and client partners that Purple remains strongly positioned for continued development of our offering and focused on creating opportunities for our people.”
“In deciding to bring on any investment partner, we knew it needed to feel additive for our clients and our Purple team members and allow us to continue to lead and manage the business in a way that preserves and stays true to what has made Purple special, and we found that partner in the WestView team,” Purple Managing Partner Kristen Morgante said. “They are interested in investing in Purple because they believe our offering is important and unique, they believe in our capacity to achieve even more success, and they believe in the team we’ve built. We’re incredibly excited to have them with us as we write this next chapter for Purple.”