From San Francisco to the world
Who We Are
Keeping students safe through every school dismissal
From San Francisco to the world
Banking For Good.
Market Leaders We Have Transacted With
Who We Are
We connect transformative technology and bold risk-takers to the capital and partners that amplify their impact.
Impact
Transactions that move the world forward
Improving at-home care adherence for patients who need it most
Bringing transparency and accountability to advertising spend
Empowering local entrepreneurs to compete with enterprise-scale tools
Equipping frontline and field workers with the training to do their jobs well
Keeping students physically safe across the school day
Empowering local entrepreneurs and the field workers who serve their communities
Holding shipping vendors accountable so customers can reinvest savings
Recovering taxpayer dollars for legitimate social services
Giving property managers the confidence to choose the right tenants
Building fairer supply chains and the jobs that come with them
Putting business formation within reach of every entrepreneur
Coaching and developing teachers to reach their full potential
Empowering local entrepreneurs and the field workers who serve their communities
Protecting kids during the most vulnerable moments of the school day
Connecting on-site, remote, and frontline workers to the information they need
Protecting institutional reputations during moments of crisis
Lowering costs and safeguarding records for schools and public agencies
Modernizing how the world's most complex disputes are resolved
Making global privacy compliance accessible to organizations of every size
Modernizing middle-market property management for residents and operators
Opening doors to careers in regulated industries
Giving teachers back the time to actually teach
Giving employers the confidence to hire the right people
Building a safer, more skilled workforce through training and certification
Keeping students safe in their digital learning environments
Equipping employees to be the first line of cyber defense
Empowering local entrepreneurs and the field workers who serve their communities
Bringing video-based learning to life for students
Opening pathways to college and career for every student
Helping school administrators meet data compliance with less paperwork
Helping middle schoolers master STEM and reading
Criteria
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$5–40M
ARR
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30–100%+
Growth
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90%+
Retention
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Rule of 40+
KPI Profile
Strong PMF, growing ICP clarity, nascent GTM — typically with <$30M invested.
Sectors
Helping to provide capital and liquidity to the right entrepreneurs and technology is how society wins
We represent entrepreneurs building the platforms society depends on, from campus security to clinical workflows to civic processes. We call it banking for good.
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Improving learning outcomes
Education
[01]K-12, higher ed, workforce dev
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Improving care, reducing costs, and increasing transparency
Healthcare IT
[02]provider tech, clinical and operational platforms
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Vigilance in physical and digital safety and regulatory compliance
GRC
[03]data mgmt, TPRM, cyber/IT security, AI governance, identity/access mgmt
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Providing the best tools for those that serve
Govtech and Non-profit
[04]civic engagement, NGO, state, local, and municipal tech, fundraising and donor tools, impact mgmt
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Tools to empower entrepreneurs
SMB
[05]payment tech, practice mgmt, field services
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Encouraging responsible and efficient trade
Commerce Enablement
[06]martech, video enablement, media/sports tech
Testimonials
TestimonialsWhy they love
working with us
Don't just take our word for it. Read real stories from our clients who have reached their goals with our guidance. The proof is in their success.
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On top of being great bankers, they also share a mission-driven focus like we do at GoGuardian.
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(David) had a comprehensive view on the process and we knew we were in good hands throughout.
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IKONA's process helped achieve ~20 offers and an eventual sale to WellSky, a premium HCIT brand.
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David knew the buyers and market like nobody else we talked with.
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I look forward to working with them again.
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[IKONA] provided clear direction on process strategy, resulting in an exceptional outcome.
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They are relentless in maximizing value for shareholders, no matter how big or small.
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David and Charlie [sold] the company at a valuation beyond what shareholders ever fathomed.
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On top of being great bankers, they also share a mission-driven focus like we do at GoGuardian.
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(David) had a comprehensive view on the process and we knew we were in good hands throughout.
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IKONA's process helped achieve ~20 offers and an eventual sale to WellSky, a premium HCIT brand.
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David knew the buyers and market like nobody else we talked with.
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I look forward to working with them again.
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[IKONA] provided clear direction on process strategy, resulting in an exceptional outcome.
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They are relentless in maximizing value for shareholders, no matter how big or small.
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David and Charlie [sold] the company at a valuation beyond what shareholders ever fathomed.
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IKONA led our transaction to an efficient & timely close, we couldn't be happier with the outcome.
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[IKONA's] insights were instrumental in extracting maximum value from every opportunity.
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David continues to be helpful even after a closed deal. I wouldn't hesitate to recommend him.
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David has been a trusted advisor to us and many of our portfolio companies through the years.
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Having worked with many bankers through the years, I can say that they are some of the best.
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We were extremely pleased with the guidance, deep expertise, and extensive network from IKONA.
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We are incredibly pleased with the outcome and grateful to have had [IKONA] alongside us.
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IKONA led our transaction to an efficient & timely close, we couldn't be happier with the outcome.
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[IKONA's] insights were instrumental in extracting maximum value from every opportunity.
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David continues to be helpful even after a closed deal. I wouldn't hesitate to recommend him.
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David has been a trusted advisor to us and many of our portfolio companies through the years.
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Having worked with many bankers through the years, I can say that they are some of the best.
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We were extremely pleased with the guidance, deep expertise, and extensive network from IKONA.
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We are incredibly pleased with the outcome and grateful to have had [IKONA] alongside us.
Leadership
Meet the
Partners
As a 100% partner-owned firm, every detail of every transaction matters to us personally. We've structured our engagements to ensure every client has direct access to an equity partner.
We solely represent companies that we personally believe in and are privileged to serve the lower-middle markets, an ecosystem of technology's most meaningful and rapid innovations.
10+
Years of Partnership
FAQs
Got questions? We've got answers
Everything you need to know about our process, and how we work together.
Why does "Banking for Good" matter?
"Banking for Good" is our thesis that allocating capital to companies solving real problems, and directing liquidity toward the right risk-takers, are practical ways to drive progress for many societal issues. We believe that the companies and entrepreneurs building businesses that matter will also achieve the strongest valuations in a post-AI world.
Why did you reach out to me?
Our Partners personally research sectors and companies that fit our niche practice, and outreach is driven by each Partner's individual focus areas. We invest substantial effort in maintaining regular dialog with founders, operators, and investors across our sectors, because that's how we build the most relevant and contemporary network for our advisory work.
How is IKONA Partners different?
Nearly all of our work is sell-side, but we're skeptical of the "sell-side only, unconflicted advisor" marketing message that many firms lean on. In practice, most companies raise some level of capital before a liquidity event meaning there are various stakeholder interests in play. Even for bootstrapped businesses, transactions themselves can create conflicts. For example, a specific buyer might offer soft compensation through referrals or additional portfolio mandates to an advisor claiming to be "sell-side only." We'd rather acknowledge the complexity honestly than hide behind a tagline.
IKONA is wholly owned by its Partners, and our Partners work on 100% of the transactions we take on. We treat every mandate as a genuine partnership (it's in our name!), and we only work with companies whose teams and technology we personally believe in.
What types of transactions does IKONA advise on?
IKONA advises on three core transaction types: M&A, partial liquidity and secondaries, and capital raises. M&A includes sell-side and buy-side advisory, merger-of-equals, divestitures, and LBOs. Our recap and capital raise work spans minority, 50/50, and majority transactions, as well as bridge financings, growth capital, and direct VC secondaries. Having a broader advisory toolkit lets us uniquely tailor the right structure to each situation rather than forcing every mandate into a rigid process. We are advisors, and not product or process pushers.
When does a conversation make sense?
Early. Even if a company doesn't explicitly fit the criteria on our website, we like to begin conversations well before a contemplated transaction. Building rapport early gives us awareness of emerging opportunities, and companies a trusted relationship to draw on, when timing becomes relevant.
I already have inbound interest or written offers, why do I need IKONA's help?
Given the PE business development model, 100% of our clients have inbound interest, and ~70%+ have offers before we are retained. Our expertise is achieving and closing a deal at the absolute best terms and price possible. Historically, we have been able to increase valuation by ~30%+ when companies have had pre-existing offers.