JMI Equity Invests $55 Million in Higher LogicFriday, September 30, 2016
JMI Equity, a growth equity firm with offices in San Diego and in Baltimore, has invested $55 million in Higher Logic, a Washington, D.C.-based company that provides cloud-based community platforms.
The funds will be used to extend Higher Logic’s market reach and continue development of its platforms, the company said in a statement.
Bob Nye, a general partner at JMI, which invests in software companies, will join Higher Logic’s board of directors as part of the transaction.
“Higher Logic has a proven community platform in an attractive and dynamic market,” he said. “As the solution of choice among nonprofit associations, Higher Logic has an opportunity to accelerate its expansion into the commercial sector and we are very excited to be partnering with its team to help drive the next phase of growth.”
Andy Steggles, president and co-founder of Higher Logic, said the partnership with JMI will allow the company to “accelerate our growth trajectory and extend our already significant lead in innovation.”
Since its founding in 2002, JMI has invested in more than 120 companies and manages more than $3 billion of committed capital. The company’s typical investment ranges from $15 million to $100 million.