Polish PR SaaS startup Prowly is being acquired by SEMrush Inc. that took over 100% stake in the company from its co-founders and investors. Rąpała Law firm provided legal support of the processs to the major investor Internet Ventures.
Prowly is an application for supporting the work of specialists in the field of Public Relations. Using a single tool, PR pros can create and manage media contacts from all over the world, distribute press releases and measure their effects as well as maintain an online newsroom supporting their brand.
Currently, Prowly is cash flow breakeven at over US$ 1 million in annual recurring revenue (ARR). Year over year ARR growth is in the triple digits, with the majority of new revenue coming from the US and Western Europe.
Prowly will continue to operate as a stand-alone brand, but it will also be tightly integrated into the SEMrush ecosystem, benefitting from SEMrush’s extensive data assets.
This is another successful exit for Internet Ventures fund, which was supported by the team of Kancelaria Rąpała. The legal team that represented the fund in the negotiations of the SPA consisted of Michał Banaś and Krzysztof Rąpała.