What happened: Vancouver-based software firm secures US$71-million investment
Why it matters: Growth capital comes as the company has more than doubled its headcount since the beginning of last year
A Vancouver-based B2B software firm has its eye on strategic acquisitions and boosting research and development after securing US$71 million in new capital.
PDFTron Systems Inc. announced Thursday (May 16) the eight-figure investment was led by Boston-based Silversmith Capital Partners.
“Silversmith’s expertise helping enterprise software companies to expand globally made them a perfect choice for us,” PDFTron CEO and co-founder Catherine Andersz said in a statement.
“This investment will allow PDFTron to continue delivering market-leading solutions, while doubling down on our commitment to long-term customer success and satisfaction.”
The company specializes in document processing technology, allowing users to embed PDF and document functionality within their own software.
With a sizeable amount of growth capital in hand, PDFTron is now looking to pursue acquisitions in North America and Europe and ratchet up its R&D spending.
The company said its workforce has more than doubled since the start of 2018.
As part of the deal Silversmith managing partner Jim Quagliaroli and general partner Sri Rao will join PDFTron’s board.
Andersz and PDFTron co-founder/chief technology officer Ivan Nincic join the pair on the board.