Investment Summary

PSG Invests In Penny

On June 1, 2022, growth capital firm PSG invested in internet software and services company Penny

Investment Highlights
  • This is PSG’s 34th transaction in the Internet Software and Services sector.
  • This is PSG’s 4th transaction in Canada.
  • This is PSG’s 1st transaction in British Columbia.

Investment Summary
Date 2022-06-01
Target Penny
Sector Internet Software and Services
Investor(s) PSG
Deal Type Venture

Target

Penny

Squamish, British Columbia, Canada
Penny is a social commerce enablement platform, purpose-built for brands to empower the modern social seller. The data-driven unified platform leverages AI to enable sellers with an automated repeatable process, ongoing learning and business intelligence, resulting in an exceptional customer experience and the potential to drive sales. Penny was founded in 2017 and is based in Squamish, British Columbia.

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Investor(S) 1

Investor

PSG

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2014
PE ASSETS 14.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

PSG is a growth equity investment firm focused on the software sector. The Firm looks to partner with software and technology-enabled service companies to capitalize on opportunities and accelerate growth. PSG looks to leverage its network and best practice knowledge developed from its history of investing, to implement and execute strategies on guiding companies to the next level. PSG was established in 2014 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 83 of 108
Sector (Internet Software and Services) 34 of 47
Type (Venture) 15 of 17
State (British Columbia) 1 of 1
Country (Canada) 4 of 4
Year (2022) 14 of 24
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-19 Qmulos

Chantilly, Virginia, United States

Qmulos, an integrated compliance, security and risk management automation provider delivers the innovative power of Converged Continuous Compliance™ through its flagship Q-Compliance and Q-Audit technology platforms. Qmulos was founded in 2012 and is based in Chantilly, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-02 ZeroNorth

Copenhagen, Denmark

ZeroNorth is a multi-service platform and leading technology developer, which interconnects data into insights and actions, optimising global trade for cargo owners, vessel owners, commercial operators, charterers, and bunker suppliers. The company’s software offers a full range of services which support the value chain to increase earnings and reduce Co2 emissions; delivered to customers through a software-as-a-service (SaaS) model. ZeroNorth is based in Copenhagen, Denmark.

Buy -
Mergr

Product

Company

Legal