Software firm OnBoard lands $100M investment from private equity firm

Chadha said the customer list is a mix of publicly traded and privately held companies, not-for-profits and government entities. In the past, we’ve been restricted by our balance sheet at times, but we can now take a forward posture and continue to innovate.” JMI’s investment will accelerate OnBoard’s product innovation and category leadership, fuel organic market expansions and strategic acquisitions and strengthen continued brand growth. “This growth investment underscores the strategic need for businesses and organizations around the world to increase their boardroom intelligence and bolster data security,” Bob Nye, general partner at JMI Equity, which has offices in San Diego and Baltimore, said in a written statement. “OnBoard’s product innovation represents the best benefits of cloud-based software for board-led businesses and organizations: scalability, security and compliance, seamless multi-device delivery, and intuitive ease of use.” As part of the transaction, JMI’s Nye and Principal Mac Williams will join the OnBoard board. The investment will also provide operational for OnBoard’s sister company, OnSemble, an employee collaboration platform also owned by Passageways, which Chadha founded in 2003.