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THRY · Communication Services · Internet Content & Information · Market cap $254M

4 funds in our archive have pitched Thryv Holdings — most recently Laughing Water Capital in September 2025.

Company profile

Thryv Holdings, Inc. provides digital marketing solutions and cloud-based tools to the small-to-medium sized businesses (SMBs). It operates through three segments: SaaS (Software as a Service), Marketing Services, and Thryv International. The company provides Thryv, an SMB end-to-end customer experience platform; Hub by Thryv, a solution for franchisors to offer real time oversight and day-to-day management of multiple locations; Thryv Leads, an integrated local marketing and lead generation solution, as well as related services; and ThryvPay, a payment solution that allows users to get paid through credit card and ACH. It also offers print and digital solutions, including the company's print yellow pages; internet yellow pages, such as yellowpages.com, superpages.com, dexknows.com, and extended search solutions; search engine marketing solutions; and other digital media solutions, including online display and social advertising, online presence and video, and search engine optimization tools. The company was formerly known as Dex Media Holdings, Inc. and changed its name to Thryv Holdings, Inc. in July 2019. Thryv Holdings, Inc. is based in DFW Airport, Texas.

Fund coverage · 4 theses

  • Laughing Water Capital
    September 2025

    Thryv offers a compelling opportunity in SMB software, where its fast-growing, cash-generating SaaS business is deeply undervalued due to legacy accounting noise—setting the stage for significant upside as the market catches on.

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  • Laughing Water Capital
    June 2025

    Thryv Holdings Inc is trading at a significantly undervalued price, reflecting market fears about a recession and tariff impacts, despite strong small business optimism and potential for growth through product-led strategies.

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  • Laughing Water Capital
    March 2025

    Thryv Inc is a rapidly growing SMB software business with promising SaaS revenue growth and majority SaaS status, but faces market challenges due to economic sensitivity despite strong fundamentals and insider buying.

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  • Laughing Water Capital
    December 2024

    Thryv Inc. is a fast-growing small and medium business software company poised for significant market appreciation due to strong execution, impressive year-over-year customer growth, and positive financial metrics despite recent challenges with equity financing.

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