ADDING and REPLACING Alpine Investors Announces Sale of Leading Contact Center Recall Technology Mindful

SAN FRANCISCO–(BUSINESS WIRE)–Add after last paragraph of release: Union Square Advisors and Evercore served as financial advisors and Willkie Farr & Gallagher served as legal advisor to Mindful.

The updated version reads as follows:


Today, Alpine Investors (“Alpine”), a people-focused private equity firm committed to building sustainable businesses, announced the completed sale of its holding company, Mindful (formerly known as of VHT) (“Mindful” or the “Company”), a leader in reminder automation, to Medallia, Inc. (“Medallia”), a leader in customer and employee experience. Terms of the sale were not disclosed.

Mindful is the leading provider of reminder technology for nearly 400 of the world’s leading brands, resulting in improved customer satisfaction and lower operating costs. Alpine acquired Mindful, then known as Virtual Hold Technology, in 2018 and named Matt DiMaria as president and CEO. By embracing Alpine’s People-First playbook, the Mindful team transformed the business, delivered over 100% revenue growth for 3 consecutive years with its new SaaS offering, and more than doubled the total turnover since the acquisition of the company.

“It has been an absolute pleasure working with Alpine over the past four years,” said Matt DiMaria, CEO of Mindful. Matt joined the company from Alpine’s internal talent program which recruits experienced executives to lead its portfolio companies. “Today’s news opens an exciting new chapter for our customers and employees as part of Medallia. Together, we’re uniquely positioned to enable millions of people to get the help they need, from the brands they love, on terms they choose. »

Mindful’s transformation was guided by Alpine’s PeopleFirst playbook, led by Matt DiMaria with support from the Alpine Portfolio Operations team. PeopleFirst focuses on developing a culture that deeply engages employees in defining a company’s vision, mission, and values ​​while building a market leadership strategy. The Mindful team fully embraced PeopleFirst to profitably double the size of the company while moving to a 97% recurring revenue business model, launching a new line of SaaS products that drove significant new customer adoption and maintaining its commitment to 100% customer satisfaction. Under Alpine ownership, Mindful has added more than 30% to its employee population and total number of active customers.

“Matt and the Mindful team have built a remarkable product, business and culture,” said Haley Beck, Principal at Alpine Investors. “Mindful’s leadership, market-leading solutions, and adoption of Alpine’s PeopleFirst philosophy and software manual have led to its notable success. We are excited to see Mindful’s continued growth through its partnership with Medallia.

Union Square Advisors and Evercore acted as financial advisors and Willkie Farr & Gallagher acted as legal advisor to Mindful.

About Alpine Investors

Alpine Investors is a people-focused private equity firm committed to building sustainable businesses by working with, learning from and developing exceptional people. Alpine specializes in investing in companies in the software and services sector. Its PeopleFirst strategy includes a talent program that allows Alpine to provide leadership in situations where additional or new management is needed after the transaction. Alpine is currently investing on its eighth fund of more than $2.25 billion. For more information, visit

About Mindful

Mindful was founded in 1995, originally to provide patented technology to large contact centers to automate smart reminders that turn customer wait time into free time. Today, Mindful is the experience platform of choice for the world’s leading brands. With a commitment to keeping the customer in the driver’s seat, Mindful empowers brands and agents to engage them at critical moments. Deep integrations into contact center technologies can be connected in days, enabling enterprise brands to transform the customer journey in record time. Delivering surprise and delight at every touchpoint, Mindful bridges the gap between experiences, making it easier for the customer to find answers in a way that matches customer and brand preferences. Learn more at

About Medalia

Medallia is the pioneer and market leader in customer, employee, citizen and patient experience. As the #1 enterprise experience platform, Medallia Experience Cloud is the experience record system that makes all other apps aware of customers and employees. The platform captures billions of experience signals across interactions, including all voice, video, digital, IoT, social media, and enterprise messaging tools. Medallia uses proprietary artificial intelligence and machine learning technology to automatically reveal predictive insights that drive powerful business actions and results. Medallia customers reduce churn, turn detractors into promoters and buyers, create in-the-moment cross-sell and up-sell opportunities, and drive revenue-impacting business decisions delivering clear ROIs and powerful. For more information, visit

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