Investment Summary

HarbourVest Partners Invests In Procurify

On June 26, 2019, private equity firm HarbourVest Partners invested in internet software and services company Procurify

Investment Highlights
  • This is HarbourVest Partners’ 14th transaction in the Internet Software and Services sector.
  • This is HarbourVest Partners’ 7th transaction in Canada.
  • This is HarbourVest Partners’ 1st transaction in British Columbia.

Investment Summary
Date 2019-06-26
Target Procurify
Sector Internet Software and Services
Investor(s) HarbourVest Partners
Deal Type Venture

Target

Procurify

Vancouver, British Columbia, Canada
Procurify is a cloud based procurement software company. Procurify’s spend management software helps organizations control spending. Their improved procurement and purchasing workflows track purchases, set-up fast digital approvals, and manage all the steps of the procure-to-pay process. Procurify was founded in 2012 and is based in Vancouver, British Columbia.

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Investor(S) 1

Investor

HarbourVest Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1978
PE ASSETS 86.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HarbourVest Partners, LLC is an investment firm that makes investments in new private equity partnerships, acquires secondary interests, and makes direct investments in operating companies. HarbourVest's largest investment area is investments in private equity funds, comprising of approximately 2/3 of HarbourVest's assets. HarbourVest's direct investment group looks for investments in growth oriented businesses at a variety of stages. The Group generally targets co-investments of $5 to $100 million, growth capital financings of $5 to $40 million, or mezzanine commitments of $5 to $20 million. Sectors of interest include software, hardware, data communications, telecommunications, and financial services. HarbourVest was formed in 1997 to assume the business of Hancock Venture Partners which was formed in 1982. HarbourVest Partners is based in Boston, Massachusetts, with additional offices in London, Tokyo, and Hong Kong.

DEAL STATS #
Overall 199 of 223
Sector (Internet Software and Services) 14 of 18
Type (Venture) 23 of 23
State (British Columbia) 1 of 1
Country (Canada) 7 of 7
Year (2019) 7 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-12 Veriato

Vero Beach, Florida, United States

Veriato develops, markets and supports PC and Internet monitoring and surveillance products for business, education, government, and home users, including Spector Pro, eBlaster, Spector for Mac, Spector CNE Investigator and Spector 360. Veriato was formed in 1998 and is based in Vero Beach, Florida.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-30 Monday

Tel Aviv, Israel

Monday is a customizable work OS where teams create and shape workflow apps in minutes to plan, run, and track their processes, projects, and operations. As a web-based SaaS platform, monday.com facilitates a more efficient and intuitive way to manage teams and organizations of all sizes. The platform connects people to processes and systems, empowering teams to excel in every aspect of their work, while creating an environment of transparency in business. Monday was founded in 2012 and is based in Tel Aviv, Israel.

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