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Mainsail Partners invests in business management software provider Fullbay

Fullbay Inc., which builds business management software to support heavy-duty repair shops, secured $23 million in growth investment from San Francisco-based growth equity firm Mainsail Management Co. LLC.

As part of the transaction, Vinay Kashyap, partner at Mainsail Partners, and Vice President Jason Frankel will join Fullbay's board of directors, according to a May 21 news release.

Fullbay will use the proceeds to invest in product development, customer support and sales.