Azlin Software

What Azlin Software does

Azlin Software is a permanent-hold acquirer and operator of mission-driven B2B vertical SaaS companies. Founded in 2024 by Annalise Dragic and Zoe Zhao, both Co-Founders and Co-CEOs with prior careers investing in software at leading private equity and venture capital funds, the firm is headquartered in Austin, Texas, and operates across the United States and the United Kingdom. Azlin's stated thesis targets purpose-built software businesses serving care providers and operators across specialty healthcare, childcare, family activities, senior care, and recurring lifestyle and home services, with a target acquisition profile of $2-5 million in ARR, clear product-market fit, profitability or near-breakeven economics, highly recurring revenue, a modern cloud-native technology stack, and vertical positioning in a protected niche.

The company's business model is structurally distinct from traditional private equity. Rather than operating a fund with a finite life and a required exit, Azlin is backed by long-term, values-aligned shareholders providing permanent capital, and explicitly states it never plans to sell acquired companies. Azlin acquires and operates B2B software businesses as independent entities while providing them access to capital, community, and operational support; revenue is generated through operational improvements, organic growth, and product reinvestment within acquired businesses rather than through resale. Go-to-market is sales-led and relationship-driven, relying on direct outreach and personalized founder conversations rather than broad marketing. Azlin does not build or sell a unified software product of its own — its deliverable is the holding company, the shared operational backbone, and the 'Azlin Software Collective' network of 100-plus seasoned software operators and domain experts.

The leadership team is intentionally small — five employees as of the source data — and consists of the two co-CEOs and Evan Dragic as Head of Engineering. The founders have publicly stated a values framework (CARE: Collective Strength, Amplified Impact, Radical Integrity, Enduring Growth) that guides acquisition decisions and portfolio engagement. No completed acquisitions, portfolio company names, revenue figures, funding rounds, or external investors were disclosed in the available data, leaving the realized operating scale of the firm unverified.

Name

Azlin Software

Legal name

Azlin Software LLC

Website

https://azlinsoftware.com

Company type

Private

Operating status

Operating

Short description

Azlin Software is a permanent-hold acquirer and operator of mission-driven B2B SaaS companies serving care verticals. Founded in 2024 by former PE/VC investors, it targets vertical software firms with $2-5M ARR, providing founders permanent capital and operational support.

Ownership category

akta.pro rank

Product category

Software Holding Company / Permanent-Capital Acquirer

NAICS

Software Publishers (5132), Computer Systems Design and Related Services (54151), Custom Computer Programming Services (541511)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Services-Management Consulting Services (8742)

akta.pro primary industry

Software/Application Support (SaaS, Enterprise Apps) (BPAAACAC)

akta.pro secondary industry

Captive/Global In-House Center (GIC) Setup & Managed Services (BPAEAMAK)

Keywords

• B2B software acquisition
• Permanent hold investing
• Vertical SaaS holding
• Care provider software
• Software company M&A

Headquarters

HQ city

Austin

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Software company acquisitions and operations: Azlin Software acquires and permanently holds B2B software companies, generating revenue through operational improvements, organic growth, and product innovation of acquired businesses. They reinvest meaningfully in product innovation and growth rather than extracting value for resale.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Azlin Software acquires and permanently holds mission-driven B2B vertical SaaS companies serving care providers and operators across specialty healthcare, childcare, family activities, senior care, and recurring lifestyle/home services. The company targets businesses with $2-5 million in ARR, modern cloud-native tech stacks, and clear product-market-fit, then operates them independently while providing permanent capital, community, and operational support through the Azlin Software Collective network of 100+ operators.

Product overview

Azlin Software is a permanent-hold acquirer and operator of B2B software companies, not a product vendor with a defined portfolio of named offerings. The company acquires mission-driven vertical SaaS businesses serving care providers and operators across specialty healthcare, childcare, family activities, senior care, and recurring lifestyle/home services. Azlin does not itself build or sell a unified software product; rather, it operates acquired companies independently while providing capital, community, and operational support. As such, no individual named products, modules, or sub-brand offerings are presented as Azlin Software's own products — only the parent holding company's acquisition model and values are described.

Differentiator

Problem solved

Functional benefit

Brands

• Azlin Software Collective: A network of 100+ seasoned software operators and domain experts ready to support acquired companies

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Constellation Software: Constellation Software is the canonical permanent-hold acquirer of vertical SaaS businesses worldwide, acquiring and operating companies indefinitely. Azlin mirrors this model at much smaller scale and within a narrower care-vertical focus.
• Roper Technologies: Roper Technologies acquires and permanently holds niche, asset-light software and engineered products businesses, reinvesting for long-term compounding. Azlin applies the same permanent-capital philosophy but exclusively to vertical B2B software.
• Halma plc: Halma is a UK-listed group that acquires and permanently holds niche technology businesses in healthcare, safety, and environmental markets. Azlin shares the care-vertical tilt and the indefinite-hold, decentralized operating model.

Broad incumbents

• Thoma Bravo: Thoma Bravo is one of the largest PE acquirers of vertical and enterprise software, with extensive healthcare SaaS holdings. It competes with Azlin for the same SMB vertical SaaS targets, but operates on a finite fund life with planned exits.
• Vista Equity Partners: Vista Equity Partners is a large-cap software-focused PE firm with deep healthcare SaaS exposure. It overlaps with Azlin on enterprise software M&A but pursues much larger targets and operates within traditional fund horizons.
• PSG Equity: PSG is a growth-oriented PE firm focused exclusively on lower middle-market software and tech-enabled services. It competes with Azlin for $2-5M ARR vertical SaaS assets, though it ultimately resells portfolio companies.
• Alpine Investors: Alpine Investors is a people-driven PE firm focused on software and services businesses, often in healthcare and care verticals. It competes for similar founder-led vertical SaaS targets, particularly via its Alpine Studio platform for small acquisitions.
• KKR (Technology Group): KKR's Technology Group invests in software and tech-enabled businesses globally, including care and healthcare SaaS. It is far larger and broader than Azlin but competes for similar vertical software platforms.

Emerging players

• BV Investment Partners: BV Investment Partners is a middle-market PE firm focused on tech-enabled services and software, frequently in healthcare and education. It pursues similar ARR, recurring-revenue profiles to Azlin but with traditional fund exit timelines.

Regional players

• Permanent Capital Partners (LDC): Permanent Capital Partners (backed by LDC) is a UK permanent-capital vehicle that buys and holds minority and majority stakes in UK SMEs across healthcare and tech-enabled services. It is conceptually the closest UK analogue to Azlin's permanent-hold approach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/azlin-software

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Azlin Software