CIMdata PLM Industry Summary Online Archive
2 March 2011
Financial News
Pilgrim Software Receives Strategic Investment from Riverside Partners, a Leading Healthcare and Technology Equity Firm
Pilgrim Software, Inc., a provider of Enterprise Risk, Compliance and Quality Management (ERCQM) software solutions, announced that Riverside Partners, a Boston-based healthcare and technology private equity firm, has made a strategic investment in the company to support Pilgrim’s next phase of growth and continued innovation.
.Pilgrim has pioneered effective, integrated software solutions for the Life Science and Manufacturing industries. Pilgrim’s fully web-based risk, compliance and quality management software solution platform supports customers by helping to ensure product safety and regulatory compliance, reducing manufacturing costs, increasing overall productivity while improving customer satisfaction.
"Pilgrim has built a software platform that helps customers improve overall governance, compliance, and quality; increase productivity; lower costs; and, reduce risk," said Philip Borden, a General Partner at Riverside Partners. “Pilgrim's product suite is particularly relevant in this era of increased scrutiny by the FDA and other regulatory bodies. Its integrated electronic solution removes the need for paper-intensive compliance and quality processes, and enables companies to streamline their operations. Pilgrim addresses a critical need in today's highly regulated environment and we look forward to partnering with the Company to help it continue on its strong growth trajectory."
"Pilgrim, since its inception in 1993, has been established as a customer-driven company with the ability to offer an extensive, highly tailorable solution set in a cost-effective manner,” said Ami Utji, President, CEO, and Co-Founder of Pilgrim. “After nearly two decades of consistent growth, we were seeking an investment partner with a demonstrated track record of helping founder-owned companies continue to grow. We felt that Riverside Partners' focus on both technology and healthcare end-markets, its operating expertise, and its entrepreneurial culture made it the best choice for all the stakeholders involved, including our customers and employees.”
Stifel Nicolaus Weisel acted as exclusive financial advisor to Pilgrim on the transaction.
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