Symplr, a specialist in enterprise healthcare operations including governance, risk management, and compliance (GRC) software-as-a-service (SaaS) solutions, backed by Clearlake Capital Group, and Charlesbank Capital Partners has raised new capital via a Clearlake-managed dedicated fund, Icon Partners V (Icon V).
In addition to broadening symplr’s investor base, the transaction provides new and follow-on capital at a significantly larger scale to support the Company’s accelerated organic growth and acquisition strategy.
Terms of the transaction have not been disclosed.
The funding from the dedicated Clearlake investment vehicle provides symplr with access to approximately USD1.6 billion in equity capital, including rollover from existing investors. The Clearlake-managed single asset vehicle is funded by over 50 leading institutional investors.
The transaction was led by leading private markets investors including Goldman Sachs Asset Management’s Vintage Funds, Landmark Partners and Partners Group (acting on behalf of its clients) with more than a dozen existing investors who have re-committed to the Company for the long-term. Clearlake will maintain its position as symplr’s lead investor and the transaction will result in no change to the governance of symplr or to its executive leadership team, led by CEO BJ Schaknowski.
