CHARLOTTE – Frontier Capital, a Charlotte-based growth equity firm, loves making SaaS deals.

The latest investment, announced Tuesday, is a majority investment in Bothell, Washington cybersecurity, privacy and compliance awareness training company MediaPRO.

Frontier Capital

Financial details were not disclosed, but Frontier generally invests from $15 million to $75 million.

Frontier has a narrow investment focus, said Scott Hoch, a partner with the firm who is joining MediaPRO’s board. He tells WRAL Techwire Frontier invests exclusively in software and tech-enabled business services companies. The MediaPRO deal is one of five investments Frontier made in software-as-a-service (SaaS) companies over the last 10 months.

It looks for investment opportunities with firms making $20 million or more in revenue and growing their top line rapidly.

The firm, Hoch said, “has a unique approach” that includes a “full-time sourcing engine and business development group.” It has a much larger staff, at 33, than many venture firms. “They do a tremendous amount of outreach, research, and meeting with entrepreneurs in local markets across the country. That’s primarily how we generate new opportunities. Finding good companies and getting warm introductions to them.”

It often follows potential opportunities for some time. “We get to know companies early, so that when the time comes that they need a growth capital partner, we can have meaningful conversations. It’s a relationship-based approach.”

Frontier continues that approach when it invests. “When we make an investment, we add a lot of value helping CEOs and teams scale their business with venture growth partners,” Hoch said.

While Frontier invests nationally and in Canada, its portfolio includes a few North Carolina firms such as Charlotte-based data center firm Peak 10,.

“We would love to put more capital to work here in North Carolina,” Hoch noted.

The company has invested $1.5 billion since it was founded in 1999 and this investment came from its $390 million Fund IV which closed in 2015. It also invests from its current $700 million Fund V. It has had several good exits, including and netdocuments.

MediaPRO works with many Fortune 500 companies and mid-sized businesses to reduce human-based security threats via adaptive training and reinforcement programs. Frontier and MediaPRO also announced the appointment of Tyler Winkler as new CEO to lead its next phase of growth. He previously took SecureWorks, a global cybersecurity company, from $1 million to more than $450 million in revenue.