Utah-based holding company GritCo, LLC with portfolio companies focusing on educational software technology and digital marketing, has acquired Atlanta-based Codesmith that offers custom web and mobile software development, growth marketing and IT staffing.
Codesmith has over a decade of experience building custom software solutions for startups and mid-market clients in fintech, education, gaming, sports, ecomm, and manufacturing. The company has delivered services to over 200 brands including The College Football Hall of Fame, Royal Flush Plumbing, Affinity Bank, Scientific Games and Pacesetter Steel.
The acquisition closed in the second quarter of 2023 and GritCo will continue to operate under the Codesmith name. The deal gives the new owners access to Codesmith’s clients, a strong U.S.-based leadership team, a large near-shore development team in Argentina, and streamlined operational processes Codesmith’s team has built out. Financial terms of the deal have not been released.
“The acquisition comes on the heels of a high-growth period for Codesmith over the last 24 months and offers additional resources and an injection of capital to accelerate expanded growth beyond the Southeast,” Joey Harris, Codesmith’s founder and CEO shared.
Codesmith will shift its base of operations to Hurricane, Utah but the multicultural team will remain a fully remote workforce. Gaurav Charokar, one of the acquiring partners and the new Codesmith CEO, said the team they’ve inherited, “is full of strategic thinkers, accomplished product builders, talented content creators and, best of all, highly collaborative and kind people.”
Charokar’s business partner and CMO of the new Codesmith, Leah Navas, added, “We are thrilled to merge the capabilities of these two dynamic teams so we can bring even more firepower to our clients and fuel their growth.”
As a majority female-owned technology company in an industry that has largely been male-dominated, Codesmith is looking to expand into new markets and support an even broader diversity of business owners.
It became evident very early on in acquisition discussions that not only was there alignment across service lines focusing on software development and digital marketing, but there was also a shared passion for supporting entrepreneurs and helping brands build rapid prototypes and enter markets with a strong product market fit.