Halogen Software Inc. has secured its largest investment from Baltimore-based private equity firm JMI Equity.
The Ottawa-based maker of web-based employee performance and talent management software said it had received a strategic investment to accelerate the company's growth and fund sales, marketing and development.
As part of the deal, Harry Gruner, a general partner at JMI, has joined Halogen's board of directors.
"We looked for a strategic investor that would be a true partner, help maximize our potential, and bring us to the next stage of growth as a company," said Halogen CEO Paul Loucks in a statement. "JMI is just that partner - they're a tier-one firm that stood out with their deep knowledge of the human capital management market, and this partnership is a testament to where we're headed."
The company declined to disclose the terms of the deal, but chief financial officer Pete Low said JMI is a $1.3-billion fund that "doesn't make insignificant investments," and pointed out that the financing was JMI's first investment in the Ottawa region.
"This is significant for the software industry in Ottawa, and I hope it attracts more funding from tier-one companies to the area," said Mr. Low.
This is the company's second financing round.
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