The value of the investment has not been disclosed.

In conjunction with the deal, Daniel Fitzgerald, formerly managing partner of Reimagine Holdings Group (now Dynata) has been named chief executive and president of InCrowd. Prior to Reimagine, he was chief client and marketing officer at Lightspeed.

InCrowd co-founders Janet Kosloff, former chief executive, and Diane Hayes, former president, will join the company’s board of directors and continue as investors.

Saroras, led by incoming board chairman John Almeida, will work with InCrowd’s management team to support an “aggressive growth strategy” for the company, InCrowd said in a statement.

Kosloff said: “Our new investors have significant experience building and growing businesses in our industry. We have great alignment of vision and strategy and look forward to working with them to build on the success we have had to date.”