Diligent Corporation (“Diligent”), a leading global modern governance company used by nearly 700,000 board directors and leaders, announced that it has received an increased investment from Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and new investment from funds managed by Blackstone Tactical Opportunities.
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Since Insight Partners (“Insight”), Diligent’s largest investor, took the company private in February 2016, Diligent has scaled from 4,400 to more than 19,000 clients and transformed its product portfolio into an integrated suite of SaaS solutions that facilitates secure collaboration, communication and meeting management for boards, committees and leadership teams. Diligent further empowers leaders to turn effective governance into a competitive advantage by driving accountability and transparency in their organizations, while addressing stakeholder and shareholder priorities and satisfying security and compliance requirements.
“Over the past few years, Insight and Clearlake have provided the resources, guidance and support that have allowed us to pursue our vision at Diligent, and I am thrilled to expand the partnership with an increased investment from Clearlake and a new investment from Blackstone,” said Brian Stafford, President and Chief Executive Officer of Diligent. “Modern governance matters more than ever in today’s world and our solutions are essential in helping board directors and executives confidently lead and drive change within their organizations. I look forward to working together with our investors to pursue our next stage of growth and continue to build transformative solutions for our clients.”
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“We knew Diligent was a great company when we invested two years ago, and the Diligent team has exceeded our expectations in all respects,” said Behdad Eghbali, Co-Founder and Managing Partner at Clearlake. “We believe Diligent is uniquely positioned to build the modern governance category with its leading software and unwavering vision. We look forward to supporting Brian and his team, alongside Insight and Blackstone, as Diligent continues to provide best-in-class solutions to its global customer base.”
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