A home for vertical software businesses

Build something significant.

Waverock is a founder-led holding company that acquires and operates niche vertical software businesses for the long term — giving founders flexibility, teams stability, and customers continuity. We're not a fund. We're a home.

Start a conversation Learn the Waverock Way
3 Operating Companies
Running & growing today
Long-Term hold
No 4–6 year clock
90 days
LOI to close
20% rollover
Founders stay aligned
Who we are

A long-term home for niche software businesses — not a fund waiting to flip them.

Most acquirers of vertical software operate on a four-to-six year clock. We don't. Waverock is structured to hold and grow the businesses we acquire for the long term, giving us the luxury of thinking differently than private equity and other acquirers.

We buy great businesses in markets that outsiders often overlook. We leave founders in control of product, team, and customers. We handle the back office so they don't have to. And we ask every founder to roll 20% of their proceeds into Waverock equity, so we grow together.

Waverock is founder-led, AI-forward, and built for the next generation of vertical software founders who want a real home for what they've built.

Layered sandstone walls of Antelope Canyon, Arizona — natural waves shaped by time.
Built for the long haul With founders who serve customers and stay loyal to their teams
Why Waverock

Four things founders tell us we get right.

We are operators first. Every one of these pillars comes from what founders told us they wished a buyer would actually do — and what most buyers don't.

01

Founder-led, not fund-led

Our CEO has sat in your chair. Mike ran Attainia before Waverock — acquired, grew, and sold it to TA Associates. We know what it takes, and what it feels like.

02

Operational independence

You keep control of product, team, strategy, and vision. We align on a handful of growth and profitability guardrails, then get out of the way.

03

Shared equity, shared upside

Founders roll 20% of proceeds into Waverock equity. Management teams get equity at the Waverock level. When the platform wins, you win.

04

Blueprints, not playbooks

No 100-day cost-cutting plan. No vanity metrics. Just a shared services backbone — finance, HR, IT, compliance, AI — plus proven patterns you can adopt at your own pace.

The Waverock Way

We are a founder-led organization dedicated to building great software businesses. We get to know your business intimately, align on what great looks like, then give you the independence to get there at a pace that works for you and your team.

Mike Rozenfeld, CEO & Founder

What We Do DO

  • Preserve the culture and legacy you've built
  • Focus on sustainable, profitable growth
  • Make decisions from data, not anecdotes
  • Treat founder and employee equity as sacred
  • Implement gradual, positive change
  • Recruit, retain, and develop top talent
  • Share best practices across operating companies

What We Don't Do DON'T

  • Quick flips or financial engineering
  • 100-day radical cost-cutting playbooks
  • Dictate your market, vision, or team
  • Milk companies for short-term cash
  • Overburden businesses with debt
  • Chase vanity metrics or growth-at-all-costs
  • Impose unilateral unrealistic goals
Our Process

How a partnership comes together — typically in 90 days.

We run a diligent, respectful, and efficient process. No surprises, no drawn-out stalling. You'll know where we stand at every step.

01

Listen & understand

We start with a private conversation. No NDA needed for the first call. We want to understand your business, your goals, your team, and what a good outcome looks like for you.

02

Alignment & IOI

If there's a fit, we sign an NDA, share a data request, and within weeks submit an Indication of Interest outlining valuation, structure, and operating principles.

03

Diligence & planning

Focused, AI-accelerated diligence across finance, customers, tech, and team. Closing within 90 days of signed LOI. Deal expenses capped at 3% of EV.

04

Growth partnership

Your team stays in control. Shared services turn on as you want them. Equity rolls forward. Compounding begins — for the business, for your team, and for you.

Portfolio

Three market-leading vertical software businesses — each with operational independence.

Experience we bring

We've built, bought, and operated vertical software businesses just like yours.

Before founding Waverock, Mike spent two decades partnering with niche vertical software leadership teams — as an operator and as an acquirer. These are a few of the businesses he helped build alongside their founders and management teams.

Attainia
Healthcare capital planning
RoleCEO
OutcomeJoined TA Associates
Spectro Scientific
Industrial lubrication analytics
RoleBoard & Ops partner
OutcomeJoined Ametek
Pricing Lab
Healthcare capital pricing
RoleBoard & Ops partner
OutcomeJoined Arsenal Capital
AgData
Agricultural inputs data
RoleBoard & Ops partner
OutcomeJoined Vista Equity
Prior work led or co-led by Mike Rozenfeld at Attainia, SFW Capital Partners, and Prometheus Health Partners — before founding Waverock. The common thread: founders and teams kept building, and the businesses got larger, more durable, and better homes for their next chapter.
Who we look for

The businesses that thrive within Waverock share a few traits.

We prefer to be transparent about fit. If this sounds like your company, we'd like to hear from you — even if you're just starting to think about what's next.

Recurring revenue

SaaS or licensing models, $2–15M in ARR, with 90%+ net dollar retention and multi-year contracts.

Defensible niche

"Must-have" software for a specific vertical, with real switching costs and a strong position in your corner of the market.

Healthy economics

80%+ gross margins, EBITDA >$0.5M, consistent cash flow, low customer concentration, low cycle exposure.

North America

US and Canadian companies, with a bias toward founders who built close to their customers and loyal to their teams — not chasing the next venture round.

Committed team

Experienced management that wants to keep building. Founders who want either a dignified transition or a long runway alongside us.

Aligned partnership

Comfort rolling 20% of proceeds into Waverock equity and benefiting from our collective growth.

Team

Operators and builders — with real scars and real wins.

Our leadership team has spent decades running and growing vertical software businesses. When we talk to founders, we're talking to peers who've sat in the same chair.

Mike Rozenfeld, CEO and Founder of Waverock Software

Mike Rozenfeld

Chief Executive Officer

Former CEO of Attainia (joined TA Associates in 2021) — ran the company day-to-day alongside the team that built it. Two decades partnering with vertical software founders as both an operator and an acquirer. Ex-McKinsey. BBA magna cum laude, Ross / Michigan.

Brian Rogers, Chief Operating Officer of Waverock Software

Brian Rogers

Chief Operating Officer

15 years of SaaS operating leadership. Former VP NRR/GM at Memory.ai, Global VP CS at Trintech, leader at Attainia. HubSpot employee #16. MIT Sloan.

Sam Devine, Head of M&A at Waverock Software

Sam Devine

Head of M&A

Leads founder conversations, diligence, and deal execution at Waverock. Designs the acquisition process to be fast, respectful, and low-drama — so founders can focus on running their business, not managing a buyer. Ex-OpenView, Raymond James, and KPMG. BBA, Northeastern.

Sam Cicotello, Chief People Officer of Waverock Software

Sam Cicotello

Chief People Officer

Builds the people systems behind Waverock's operating companies — leadership development, benefits, recruiting, and culture. Ensures every team gets better every year. Ex-Capital One, The Motley Fool. BS, Vanderbilt.

FAQ

Common questions from founders.

If yours isn't answered here, start a conversation. We'd rather hear from you early than not at all.

North American vertical software businesses with $2–15M ARR, 80%+ gross margins, 90%+ net retention, and a committed team.

You choose — keep running it, transition to chair/advisor, or step away — with 20% of proceeds rolled into Waverock equity to keep us aligned.

About 90 days or fewer from signed LOI to close, with a clear timeline we commit to up front.

Yes — your team keeps control of product, customers, hiring, and vision; we align on a few growth and profitability guardrails, not the day-to-day.

Optional shared services across finance, HR, legal, AI, security and compliance, procurement, and benefits — you turn on what you need, when you need it.

A founder-led holding company built for permanent ownership — not a 4–6 year fund cycle — using shared patterns ("Blueprints") instead of one-size-fits-all playbooks.

Niche verticals with defensibility and recurring revenue — healthcare, financial services, GovTech, supply chain, construction, AgTech, and many others where great vertical software gets built.

Let's talk

Curious about what a partnership could look like for your business?

Every great partnership starts with a conversation. No obligation, no pressure, no drawn-out process. Just a real discussion about your business and what's next.

Email Waverock info@waverocksoftware.com