Profile

PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 120 companies and facilitated over 430 add-on acquisitions as of April 2023, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid and Tel Aviv.

Awards

2023 Top Women Leaders in Growth Investing, Kate Nimmo

2022 Top 25 Growth Equity Firms

2022 Top 40 Under 40 Growth Investors, Bill Skarinka, Chris Andrews

2021 Top 25 Growth Equity Firms

2021 Top 40 Under 40 Growth Investors, Matt Stone, John Marquis

2021 Top 25 Software Investors, Marco Ferrari, Tom Reardon

2020 Top 25 Growth Equity Firms

2020 Top 40 Under 40 Growth Investors, Matthew Stone, John Marquis, Bill Skarinka, Chris Andrews

Key People

Mark Hastings, CEO

Mark is the co-founder and CEO of PSG and is based in the firm’s Boston office. In this role, Mark is responsible for overseeing all aspects of PSG’s business. Previously, he was founder and a managing partner of Garvin Hill Capital Partners. Prior to spinning out of CIBC to form Garvin Hill in 2009, Mark led CIBC’s technology-focused growth equity team in the U.S. Before that, he was a principal and general partner at BCI Partners. Mark started his investment career at Edison Ventures.

Mark sits on 10 boards including: 2ndWave Software, CENTRL, Code Climate, EverCommerce, Foreground, Inhabit IQ, Jobcase, Netsurion, Vertical Knowledge and Worldwide Express.

Peter Wilde, Chairman

Peter is the co-founder and chairman of PSG and is based in PSG’s Boston office. He is a member of the investment committee of PSG’s North American and European funds. Peter joined Providence Equity Partners in 2002, and co-ran North America from 2012 to 2020.

Peter sits on two boards including: Backlight and Next Glass.

Marc Puglia, Managing Director, CFO

Marc is a managing director and the CFO of PSG, based in Boston. Previously, he was a senior manager at KPMG in the economic and valuation services group. Before that role, Marc held various finance and consulting positions at The Stanley Works and Arthur Andersen.

Tom Reardon, Managing Director

Tom is a managing director in PSG’s Boston office. Previously, he was a general partner at WestView Capital Partners and focused on software and technology-enabled business service investments. Prior to WestView, Tom was a director at CIBC Capital Partners.

Tom sits on 11 boards including: Bitwarden. Code Climate. CommBox, FluentStream, Formstack, Penny AI, Singlewire Software, Skybox Security, Traliant, Validity and Pathful.

John Clancy, Managing Director, Head of Portfolio Operations

John is a managing director and head of portfolio operations in the firm’s Boston office. He leads the portfolio operations team and works with PSG portfolio companies on strategic planning, operational excellence and to help maximize go-to-market opportunities. John has over 20 years of experience in building high growth, market leading software and technology enabled businesses. Prior to joining PSG in 2016, John was the president of Radius Worldwide, the leading provider of international business software and services.

John sits on three boards including: Arcoro, Skybox Security and Vertical Knowledge.

Dany Rammal, Managing Director, Head of Europe

Dany is a managing director and head of PSG Europe in the firm’s London office. In this role, Dany is responsible for sourcing PSG’s European investment pipeline and has overseen the firm’s expansion in the region, including the opening of a Paris office in 2022. Previously, he was a vice president in the media and communications group within investment banking at Morgan Stanley in London, where he worked on a variety of European TMT transactions. Prior to that, Dany worked in Paris as a management consultant with both KPMG Consulting and Diamondcluster International, focusing on the TMT sector.

Dany sits on seven boards including: Arthur’In, Hornetsecurity, Imaweb, Nalanda, Signaturit Solutions and Whoz.

Lori Ali, Managing Director, Head of Talent

Lori is a managing director and head of talent in PSG’s Boston office. She works with employees across PSG and its portfolio to enhance individual performance and growth, optimize firm-wide dynamics and culture, and oversee talent management. Previously, Lori was an executive coach for several years, applying her executive coaching training and previous 15 years of diverse business and management experience to advance the growth and development of her business clients.

Ronen Nir, Managing Director

Ronen is a managing director in the firm’s Tel Aviv office. Previously, he was a principal, partner and General Partner at Viola Ventures from 2008 to 2021 focusing on SaaS and Vertical AI investments. Prior to Viola, Ronen held several positions in the Israeli tech industry, the latest one being VP Product Management in Verint Systems.

Rotem Shacham, Director

Rotem is a director in PSG’s Tel Aviv office. Previously, Rotem was a Principal at Viola Ventures where she led investments in early-stage startups focusing on Enterprise SaaS, Vertical AI, and Fintech. Prior to joining Viola, Rotem was a Project Leader at Boston Consulting Group. As a Project Leader, she led teams of consultants to diagnose and solve companies’ most challenging problems. Rotem is also a lawyer and member of the Israeli Bar Association.

Funds Raised

Since inception, PSG has been committed to its founding ‘buy and build’ strategy focused on helping software companies grow through strategic value creation initiatives in addition to sourcing and facilitating add-on acquisitions. PSG aggregate capital commitments across the U.S and Europe total more than $10 billion. Leveraging this capital, PSG aims to continue supporting their new and returning investors as they continue to scale and partner with a growing number of entrepreneurs and management teams.

Key Investments

Adeptia: Invested March 2023
Investment Amount: $65 million
Sector: Software Enabled Services

Adeptia software simplifies and speeds data integration with up to 80% faster set up of secure data exchanges between businesses and applications.

MentorcliQ: Invested March 2023
Investment Amount: $80 million
Sector: Software Enabled Services

MentorcliQ supports enterprises globally in launching and maintaining high-impact employee mentoring programs aimed at strengthening the foundation of an organization’s infrastructure—its employee base.

N2F: Invested March 2023
Investment Amount: €24 Million
Sector: Software Enabled Services

N2F is a fully connected (mobile & web app) expense management solution that digitizes the entire process of logging, approving and archiving expense reports, simplifying the daily life of accountants, managers and employees.

Beti: Invested November 2022
Investment Amount: $11 million
Sector: Software Enabled Services

Beti provides construction developers and general contractors with a one-stop-shop solution for site management that assists them in addressing on-site safety and compliance issues, while simultaneously working to improve on-site efficiencies and boost productivity.

Revuze: Invested November 2022
Investment Amount: $12 million
Sector: Software Enabled Services

Revuze empowers brands to understand consumers’ preferences and behavior by delivering a faster, more efficient alternative to traditional market research. Revuze’s cloud-based software uses AI-based natural language processing to gather, cleanse, analyze and provide insights on consumer sentiment, feedback and overall satisfaction.

Zenchef: Invested September 2022
Investment Amount: €50 million
Sector: Software Enabled Services

Zenchef is a leader in restaurant tech in Europe. The company has developed a set of technological solutions to support the digitization of the restaurant industry.

Bitwarden: Invested September 2022
Investment Amount: $100 million
Sector: Software Enabled Services

Bitwarden helps individuals and businesses operate safely online by delivering an open-source and fully customizable password manager built to work seamlessly on any device. Paid and free versions of Bitwarden include features for credential autofill, automatic end-user password generation, password strength scoring, secure credential and file sharing, and flexible cloud and self-hosted deployment options for sophisticated enterprises.

Capital Responsibility

Responsible investment and stewardship are important tenets of PSG’s investment philosophy. PSG believes in backing businesses that are led by innovative management teams and providing them with institutional infrastructure to scale and build sustainable competitive advantages.

PSG’s ESG Policy establishes a formal framework for how they seek to integrate ESG considerations in their firm-level operations and outlines their governance structure to promote accountability of their integration of ESG factors.

PSG aims to provide hands on support to their portfolio companies as they continue to enhance their ESG-related initiatives to better manage risk, improve operational efficiencies and enhance competitiveness.