The Investment will Support VLogic's Strong Growth Trajectory and Continued Product Expansion.
CONCORD, Mass., June 12, 2024 /PRNewswire-PRWeb/ -- Concord, Massachusetts, USA, June 12, 2024 – VLogic Systems, Inc. ("VLogic"), a leading, cloud-based, integrated workplace management ("IWMS") and Connected Portfolio Intelligence Platform ("CPIP") SaaS provider, today announced that Northrim Horizon has made a strategic growth investment in the high growth IWMS and CPIP provider.
VLogic is the developer of VLogicFM®, a FedRAMP® authorized, cloud-based SaaS solution for both federal and commercial enterprises. This highly integrated workplace solution includes modules that provide IoT sensor-based occupancy tracking, hybrid workplace reservation functionality, space management capabilities, asset management, preventative maintenance, and on-demand work order and service request modules. All this robust, enterprise-class software functionality is accessible over a user-friendly web browser-based application and on native Android/iOS apps.
"My team and I are thrilled that Northrim has become our growth partner. Their investment, along with our recent FedRAMP authorization from the U.S. federal government, are both significant catalysts for VLogic's next major phase of growth," said VLogic's CEO and Founder, George T. Koshy. "We appreciate Northrim's recognition of our rapid growth, enthusiasm for our customer-acclaimed software, and deep commitment to our long-term success, as a leading, global provider of cloud-based IWMS and CPIP software and services."
"VLogic's best-in-class IWMS and CPIP platform has led them to achieve phenomenal growth," said Tyler Duke, Partner at Northrim Horizon. "With recent FedRAMP approval, we're excited to continue that growth with VLogic's full suite of IWMS and CPIP solutions to federal clients as well as corporate, healthcare, and education customers. We recognize the tremendous business this team has built and Northrim is committed to building upon that foundation for decades to come."
"Verdantix research shows that there's continued interest from investors and customers for broad-based IWMS offerings, with 51% of real estate and facilities management executives planning to increase spend on IWMS", said Joy Trinquet, Senior Analyst, Verdantix. "Northrim Horizon's investment into VLogic Systems will provide the vendor with opportunities to grow its market footprint and further develop its solution, allowing it to compete in the CPIP market."
VLogic's management team will continue supporting the company going forward with room for new hires to support additional growth initiatives. George Koshy will continue to serve as CEO with Duane Harris being promoted to President.
VLogic anticipates that this new investment partnership will strengthen its capacity to meet the needs of its existing global customers as well as continue to enhance its product offerings and services as it continues to expand its customer base.
Wellesley Hills Financial and lead technology investment banker, Shivang Amin, acted as exclusive advisor to VLogic in the transaction.
About VLogic Systems, Inc.
VLogic Systems, Inc., an integrated workplace management software ("IWMS") and Connected Portfolio Intelligence Platform ("CPIP") pioneer, provides cloud-based SaaS solutions. Its flagship SaaS software solution, VLogicFM, is used by federal and commercial customers to maximize the value of enterprise physical facilities, assets, and utilization. Our VLogicFM® solution optimizes space and move management, hybrid workplaces, space occupancy—using Internet-of-Things (IoT) based sensors, asset tracking, preventive maintenance, on-demand work orders, and engineering drawings management. VLogic Systems Inc. is headquartered in Concord, MA, USA. For more information, go to www.vlogicsystems.com.
About Northrim Horizon
Northrim Horizon is a private equity firm that acquires leading software and services businesses with the intent to own those businesses indefinitely. Northrim builds long-term value by reinvesting its earnings into its companies and people. The firm is based in Mesa, Arizona. For more information, visit www.northrimhorizon.com.
Contacts
Media:
VLogic Systems, Inc:
Terry Holmes
Northrim Horizon:
Adam Moesel
Media Contact
Terry Holmes, VLogic Systems, inc., 1 978-341-9000 414, [email protected], https://www.vlogicsystems.com
SOURCE VLogic Systems, inc.
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