Business Wire

Diligent Reaches New Milestone with $200 Million Annual Recurring Revenue (ARR) along with Investment from Clearlake Capital Group

Jaa

Diligent Corporation, the leader in secure governance and collaboration solutions for boards and leadership teams, announced today a new revenue milestone. Diligent surpassed more than $200 million Annual Recurring Revenue (ARR), a milestone that fewer than 50 SaaS companies have ever reached. Coinciding with this achievement, we are pleased to welcome a new equity partner, Clearlake Capital Group. As part of the transaction, Insight Venture Partners, who first partnered with the business two years ago, will remain the controlling shareholder. This strategic investment will help further accelerate Diligent’s growth and solidify its leadership position in the Enterprise Governance Management (EGM) market.

“The $200M ARR achievement is a credit to our client focus and ability to deliver the most widely adopted cloud solution that address the increasingly complex governance needs of leading organizations,” said Brian Stafford, CEO of Diligent Corporation. “We’re excited to welcome Clearlake Capital Group as a partner as we accelerate growth. This SaaS industry milestone is in part due to the tireless work of the Diligent team and a testament to our award-winning client support and high Net Promoter Score. Our scale allows us to invest more in product innovation, security and infrastructure than anyone else in the Enterprise Governance Management space.”

Diligent partnered with Insight Venture Partners in 2016 to take the company private and is now excited to welcome Clearlake Capital Group. This strategic investment will allow Diligent to continue to accelerate development of innovative governance solutions for its more than 12,000 organizations and 400,000 users worldwide. This news follows yesterday’s announcement and introduction of Diligent Governance Cloud – the only comprehensive EGM solution available on the market.

“The continued growth from Diligent and the company’s solutions-oriented approach to business needs made this an ideal investment,” stated Behdad Eghbali, Co-Founder and Managing Partner at Clearlake Capital Group. “With its significant investment in product and people, we believe Diligent is well-positioned to continue growing its leadership position in the EGM market. We look forward to leveraging our O.P.S.® approach to support Brian and his team, alongside Insight Venture Partners, in continuing to provide best-in-class solutions to Diligent’s global customer base. This type of ARR scale shows true customer loyalty and gives investors tremendous confidence in a company.”

“Since partnering with Diligent, the company has continued to innovate and deliver new products that strengthen its global position and the depth of its relationships with clients,” said Deven Parekh, Managing Director of Insight Venture Partners. “It has been a pleasure to partner with and support Brian and the team. Diligent is a rare, at scale, profitable entity in the SaaS industry and has the potential to be a billion-dollar revenue company in the Governance space.”

Diligent manages board security, compliance and subsidiary management, among many of the paramount concerns for governance stakeholders, including executive roles from corporations’ General Counsel and IT across the C-Suite. Diligent’s Governance Cloud is the only integrated and secure enterprise governance management solution that enables organizations to achieve best-in-class governance.

Morgan Stanley & Co. LLC served as lead advisor to Diligent Corporation and Insight Venture Partners. District Capital Partners provided transaction advisory services to Diligent Corporation.

About Diligent

Diligent is the leading provider of secure corporate governance and collaboration solutions for boards and senior executives. Over 12,000 clients in more than 90 countries and on all seven continents rely on Diligent for secure distribution of board materials to secure messaging, integrated compliance, board evaluation and entity management. Governance Cloud is the only solution that meets the evolving governance needs of leading organizations. Visit diligent.com to learn more.

About Insight

Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $18 billion and invested in over 300 companies worldwide. Insight’s mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all its investments, visit www.insightpartners.com or follow on Twitter @insightpartners.

About Clearlake

Clearlake Capital Group, L.P. is a leading private investment firm founded in 2006. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are software and technology-enabled services; industrials and energy; and consumer. Clearlake currently has approximately $7 billion of assets under management and its senior investment principals have led or co-led over 100 investments. More information is available at www.clearlake.com.

Contact information

MWWPR
Greg Nyhan, +1 646-215-6884
gnyhan@mww.com

Tietoja julkaisijasta

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Tilaa tiedotteet sähköpostiisi

Haluatko tietää asioista ensimmäisten joukossa? Kun tilaat mediatiedotteemme, saat ne sähköpostiisi välittömästi julkaisuhetkellä. Tilauksen voit halutessasi perua milloin tahansa.

Lue lisää julkaisijalta Business Wire

Hilton Launches New Brand, Signia Hilton, Delivering Sophisticated Travel While Reimagining Meetings and Events22.2.2019 20:00:00Tiedote

Hilton (NYSE: HLT) today announced the launch of Signia Hilton, its dynamic, new meetings-and-events-focused brand. The portfolio of hotels is setting out to transform the industry for meeting professionals and sophisticated business travelers by infusing state-of-the-art technology and design into every aspect of the guest experience. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190222005071/en/ The brand further reinforces Hilton’s commitment to innovation that meets the evolving needs of today’s travelers and will bring premium experiences to top urban and resort destinations around the world. “In our 100th year of hospitality, we are more focused than ever on providing exceptional experiences to all of our guests – and that includes evolving those experiences to meet their changing needs,” said Christopher J. Nassetta, president and CEO, Hilton. “We are proud to launch Signia Hilton, which exemplifies our innovative sp

Axonics® Granted Expanded CE Mark Label; First and Only Sacral Neuromodulation System Approved for Use with Full-Body MRI Scans22.2.2019 19:30:00Tiedote

Axonics Modulation Technologies, Inc. (NASDAQ: AXNX), a medical technology company focused on the development and commercialization of novel implantable Sacral Neuromodulation (“SNM”) devices for the treatment of urinary and bowel dysfunction, announced today that it has received CE mark approval for 1.5T and 3T full-body magnetic resonance imaging (“MRI”) conditional labeling for the Axonics r-SNM® System. The Axonics r-SNM System is the only implantable SNM system that has received full-body MRI conditional labeling for sale in Europe1. Raymond W. Cohen, Chief Executive Officer of Axonics, said, “Without this labeling, any patient requiring an MRI scan on any body part below the head must have their neurostimulator surgically explanted prior to the MRI scan, resulting in an additional surgery for the patient and additional costs to patients and the healthcare system. This authorization of full-body MRI scans in Europe is another important milestone for Axonics, differentiating our te

Fantastec Joins Forces with Arsenal FC Launching Official Blockchain Collectibles App22.2.2019 17:30:00Tiedote

Fantastec announced today its first football licensing agreement with Premier League club Arsenal FC for a new blockchain authenticated collectibles app called Fantastec SWAP. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190222005277/en/ Arsenal players appear on Fantastec SWAP in official licensing deal (Graphic: Business Wire) London-based Fantastec is a leading sports fan technology innovator, and its blockchain based ‘SWAP’ app will have broad appeal to global sports fans, gamers and sports card collectors alike. Fantastec SWAP unlocks unique and authentic club content through the app, like player autographs and exclusive footage. With its innovative blockchain technology, fans around the world can now discover, collect and swap officially licensed club collectibles with other fans with complete trust. “Fantastec SWAP is a game-changer for international football fans as well the sports collectibles industry,” commented

Volkswagen Protects Virtual Key Sharing App with Trustonic Application Protection22.2.2019 16:42:00Tiedote

Volkswagen is working with mobile cyber security leader Trustonic to enable customers to use smartphones to access their vehicles, and to securely share their digital car keys to grant access to others via a smartphone app. Volkswagen is using the Trustonic Application Protection (TAP) platform to secure the mobile app and ensure that sensitive information and key transfer requests are securely displayed to, and approved by, a real authenticated user on a trusted device and not by hackers or malware simulating a user or device. “The smartphone is becoming the vehicle key of the future and our We Connect service is the interface for this today in the new Volkswagen Passat,” comments Alf Pollex, Head of Infotainment and Connected Car at Volkswagen AG. “The user installs the We Connect app on their smartphone which is then authorized via the infotainment system with a Transaction Number. The Mobile Key will be compatible with Android-based Samsung devices. No mobile network connection is

Mundipharma EDO GmbH: US FDA grants Orphan Drug Designation for etoposide toniribate in relapsed/refractory biliary tract cancer22.2.2019 16:30:00Tiedote

Mundipharma EDO GmbH, part of the Mundipharma network of independent associated companies, and Imbrium Therapeutics L.P., an operating subsidiary of Purdue Pharma L.P., today announced that the US FDA has granted Orphan Drug Designation (ODD) to etoposide toniribate for the treatment of relapsed/refractory biliary tract cancer, also known as cholangiocarcinoma.3 This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190222005126/en/ Biliary tract cancer is a rare tumour with approximately 8,000 patients diagnosed in the US every year and 10,571 in Europe.4,5 The FDA grants ODD status to medicines intended for the treatment, diagnosis or prevention of rare diseases or disorders that affect fewer than 200,000 people in the US. Radical surgery is the only curative treatment for biliary tract cancer but, in most cases, the cancer is inoperable. Patients who fail first-line chemotherapy have limited treatment options and the standard of

Lenovo Data Center Group Delivers Broad Edge Computing Portfolio, Expands Investments in IoT22.2.2019 16:13:00Tiedote

Next week at MWC Barcelona, Lenovo Data Center Group (DCG) will showcase continued investments in its solutions supporting IoT and edge computing as part of its IoT growth plan over the next few years. Building on the momentum of its fifth consecutive quarter of profit growth, Lenovo DCG is building a portfolio that takes infrastructure to where the data is, whether that be in the traditional data center, in the cloud or increasingly, at the edge. Today, around 10 percent of enterprise-generated data is created and processed outside a traditional centralized data center or cloud. By 2022, Gartner predicts this figure will reach 75 percent. This migration is driving increased concerns around data privacy, security and regulations coupled with challenges of latency, bandwidth and downtime. Lenovo is addressing these challenges by creating a broad portfolio of edge computing offerings that address the different ways that customers want to deploy edge computing solutions for IoT use cases.

Uutishuoneessa voit lukea tiedotteitamme ja muuta julkaisemaamme materiaalia. Löydät sieltä niin yhteyshenkilöidemme tiedot kuin vapaasti julkaistavissa olevia kuvia ja videoita. Uutishuoneessa voit nähdä myös sosiaalisen median sisältöjä. Kaikki STT Infossa julkaistu materiaali on vapaasti median käytettävissä.

Tutustu uutishuoneeseemme