Arbor Advisors Research
Advisory Approach
Arbor Advisors is a Silicon Valley-based investment bank founded in 2001 by technology owners and operators who understand the unique challenges of growing technology companies. The firm's core thesis is that founders and operators of mid-market technology companies need an M&A advisor who speaks their language—someone with technology operations experience, not just banking experience. This founder-friendly approach has positioned Arbor as the investment bank for entrepreneurs, focused exclusively on executing M&A transactions and capital raises for profitable, growing technology companies.
The firm serves as a trusted advisor to companies with $10-100 million in annual revenue, primarily focusing on sell-side M&A transactions and capital raising activities. Their 25-year track record demonstrates deep expertise in navigating complex technology transactions where product market fit, recurring revenue models, and technology stack valuations require specialized knowledge.
Sector and Technology Focus
Arbor Advisors maintains broad exposure across the entire technology ecosystem with particular strength in enterprise software, healthcare technology, fintech, and digital platforms. Their deal track record reveals sophisticated expertise across multiple technology verticals:
Enterprise Software and SaaS: A significant portion of Arbor's historical deals involve enterprise software companies including Kaseya (sold to Insight Venture Partners), Clarity Systems (sold to IBM), Sparta Systems (sold to AIG), and numerous other software and online services platforms. These deals demonstrate deep expertise in valuing recurring revenue models, customer acquisition costs, and SaaS unit economics.
Healthcare Technology: Arbor has completed transactions in healthcare software including RevolutionEHR (sold to RevOptix), Lynx Medical Systems (sold to Francisco Partners), and allyDVM (sold to AmerisourceBergen). This vertical expertise is particularly valuable given the regulatory complexity and the need to navigate healthcare IT procurement cycles.
Fintech and Financial Services: The firm has executed transactions in financial technology including Bankrate acquisitions (Interest.com and Trouve Media), Investopedia (sold to Forbes), and other fintech platforms, demonstrating comfort with regulated financial services transactions.
E-commerce and Digital Commerce: Arbor completed deals in retail technology and e-commerce including iBoats, BFAds (sold to Ebates), Deals2Buy (sold to Austin Ventures), RetailMeNot, and SlickDeals (sold to Warburg Pincus). This vertical reveals expertise in consumer-facing platforms and online marketplaces.
Communications and Telecommunications Software: The firm has advised on acquisitions in communications software including M5 Networks (sold to ShoreTel), Star2Star Communications (raised growth capital from NewSpring Growth), and other telecommunications software platforms.
Deal Track Record and Scale
Arbor Advisors has completed over 40+ documented transactions spanning from 2003 through 2021 and beyond, executing transactions across a broad spectrum of buyers including leading private equity firms, strategic technology acquirers, and growth capital investors. The firm's buyer network includes relationships with major PE firms including Insight Venture Partners, Francisco Partners, Warburg Pincus, Golden Gate Capital, Alpine Investors, Rockbridge Growth Equity, Austin Ventures, The Riverside Company, and Mayfield Fund.
Recent transactions include PestRoutes (Gryphon Investors, 2020) and Kenect (PSG capital raise, 2021), demonstrating continued transaction activity and relationships with leading growth equity and PE sponsors. The diversity of buyers across these transactions—from Fortune 500 strategics (IBM, General Dynamics, Emerson Electric, LogMeIn) to specialized PE investors to growth equity platforms—reflects Arbor's broad market access and credibility across the technology investment ecosystem.
Team and Leadership
The firm is led by founder Christian Eversull, who established Arbor based on deep technology operations experience. The core team includes David Jaffe, Joshua Levy, and Ray H Hairston Jr., bringing collective expertise across investment banking, technology operations, and M&A advisory.
Former team members have gone on to prominent roles at leading growth equity and PE firms including Insight Venture Partners, Edison Partners, and Nexa Equity, reflecting the quality of talent that Arbor has developed and the strong reputation the firm enjoys within the investment community.
Process and Engagement Model
Arbor Advisors operates with a transaction-focused advisory model, taking on either sell-side or buy-side assignments. Their engagement model emphasizes direct principal involvement and founder-to-founder relationships. The firm typically takes on assignments where they can add meaningful value through buyer network access, valuation expertise, and process management.
Given their technology focus, the firm is particularly effective with software-as-a-service (SaaS) companies where they can provide guidance on the recurring revenue metrics that buyers prioritize. The firm does not publicly disclose fee structures, but their selective engagement model and founder focus suggests preference for meaningful assignments rather than volume-based fee models common in larger advisory platforms.
Not a Fit If
Arbor Advisors is unlikely to be the right advisor for:
- Non-technology companies or companies where technology is peripheral
- Transactions below $10 million in annual revenue
- Companies requiring significant turnaround or restructuring work
- Sellers seeking large M&A advisory teams with extensive research departments
Geographic Coverage and Market Position
Headquartered in San Mateo, California, the firm operates from the heart of Silicon Valley with deep relationships across the West Coast technology ecosystem. The firm's market position reflects both history and specialization: while major generalist banks (Goldman Sachs, Morgan Stanley, JP Morgan) cover the full spectrum of acquirers, and firms like Alkali Partners and other tech-specialized advisors compete directly, Arbor's 25-year tenure, founder-operator-focused positioning, and deep track record provide differentiation in the mid-market technology space.
Regulatory History
Arbor Advisors was previously registered as a broker-dealer with FINRA (CRD# 136950, SEC# 8-67053) from January 2006 through August 2021. The firm is no longer registered as a broker-dealer, reflecting a shift to operating as an unlicensed M&A advisory firm. This change is consistent with industry trends where successful advisory boutiques operating in the mid-market space focus on advisory services without maintaining broker-dealer registrations.