Software Firm OnBoard lands $100M investment from private investor

As boards of directors and companies recognize that outdated technology, fragmented communications, and a lack information flow make it difficult to engage with their leaders teams and boards effectively, this investment is necessary.

Onboard 100m PE Equity Business Journal: Additionally, the COVID-19 pandemic highlighted that digital boards platforms are needed that enable greater accessibility, security, collaboration, and better communication. Boards can now focus more effort and energy on strategic oversight and make faster decisions.

Paroonchadha, CEO of OnBoard, stated that the pandemic showed that digital transformation was a necessity and a wish. Better performance and agility for leaders and boards can be achieved by digitally transforming boardrooms.

Chadha stated, “The JMI Investment underscores our strong performance, including our work being the highest-rated board manager platform on Apple App Store, on G2 and with our historical high Net Promoter Score (79),”

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Software firm OnBoard lands $100M investment from private investor

JMI’s investment in OnBoard will allow it to accelerate its award-winning product innovations, category leadership, organic markets expansions, brand growth and ongoing brand growth. This will enable OnBoard to reach more customers and address the complex needs of boards in North America, EMEA, and APAC.

This announcement is made after OnBoard’s outstanding performance in 2020, Year-to-date 2021 and:

  • Over 1000 customers from more than 25 countries have been added to the database.
  • It now has 600 financial service providers and 700 nonprofits. There are also 250 learning institutions and 100 healthcare providers.
  • 40% Increase in app user engagement after the COVID.
  • Apple App Store’s Best rated Board Management platform.
  • The highest software review site rating of any board management platform was. It received 96 out of 100.

Bob Nye is JMI Equity’s general partnership. He stated that this growth investment highlights the need for companies and organisations around the world to improve their boardroom intelligence and data security. “OnBoard’s innovative product provides the best cloud-based software for board-led businesses and organizations: security, compliance and seamless multi-device delivery. It is also intuitively easy-to-use. This allows boards around the world to collaborate, be more efficient, and to be more strategic.

As part of the transaction, Nye and Krishna Potarazu from JMI will join the OnBoard Board of Directors. This intranet platform is highly rated by employees. It was created in 2003 by Chadha’s parent company Passageways.

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Chadha stated, “My coworkers and early investors like Five Elms, JMI, are valued partners in an winning team dedicated to an inspiring mission. ” “We share strong cultural alignment, with shared values such as transparency, accountability, customer success, and leadership. This will allow us to inspire and empower boards and leaders to do the best work together.

Information about OnBoard, Passageways

OnBoard believes board meetings should be easy, informative, and effective. It was founded in 2003 by Passageways Inc.

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