Hg has agreed to invest in Florida-based ProcessMAP, an environmental, health and safety software platform provider. No financial terms were disclosed. KPMG Corporate Finance acted as an investment banking advisor to ProcessMAP.
Ft. Lauderdale, Florida, USA and New York, New York, USA. 5 January 2022. ProcessMAP Corporation (“ProcessMAP”), a leading Environmental, Health and Safety (“EHS”) software platform provider, announced today that Hg, a leading software and services investor with nearly $40 billion funds under management, has agreed to make a significant investment in the business to accelerate ProcessMAP’s growth and expansion, and help solidify the company’s position as a global leader in the EHS software sector.
Following the transaction, ProcessMAP’s management team will retain a significant stake in the business. The terms of the transaction are not disclosed.
Founded in 2000, ProcessMAP’s vision is to enable businesses to proactively mitigate workplace health and safety risks for workers. ProcessMAP’s SaaS and mobile solutions serve mid-market and enterprise customers across large industry verticals such as automotive and manufacturing. ProcessMAP’s solutions are used by global customers in more than 140 countries, covering 2 million workers across 80,000 sites. Headquartered in Florida, ProcessMAP has nearly 300 employees based in the USA, Canada, the UK, Germany and India. The company is regularly recognized as a “Leader” in the biennial Green Quadrant report for EHS software published by Verdantix, an independent industry analyst for the EHS sector.
Accelerating the Innovation Momentum for ProcessMAP Customers
ProcessMAP will leverage the financial investment as well as Hg’s 20+ years of industry-leading experience in building and rapidly growing innovative software businesses. The financial partnership with Hg will also enable ProcessMAP to deliver next-generation, smart and connected EHS solutions to its customers globally. Additionally, the company will also make investments to expand its team globally, strengthen its position further, and broaden its global customer base, particularly in Europe and Asia-Pacific.
Comments on the News
Dave Rath, CEO and Co-Founder of ProcessMAP, said: “We share our customers’ commitment to create and offer the safest and the healthiest workplaces, while minimizing the environmental impact of day-to-day operations. Bringing in Hg to invest in our business comes at a very interesting time as we see an opportunity to help customers protect millions more workers globally.”
Jagan Garimella, CTO and Co-Founder of ProcessMAP, added: “This partnership, built on software knowledge and experience, will enable us to develop our analytics-driven software further, helping more customers across the globe optimize their EHS processes while, critically, mitigating operational and sustainability risk.”
Ben Meyer, Partner at Hg, said: “Hg has been focused on risk and compliance software for two decades and we see strong tailwinds continuing to drive demand in this sector. The impressive work from Dave Rath, Jagan Garimella, and the team means that ProcessMAP is well-positioned to benefit from this dynamic. They’ve built a high-quality platform which receives consistent, strong feedback from a loyal customer base. We believe that together, Hg and ProcessMAP, will form a strong partnership and we look forward to supporting the team, investing in the business and continuing to realize its growth potential.”
KPMG Corporate Finance acted as the exclusive investment banking advisor to ProcessMAP.