Wagepoint Announces Strategic Investment by Providence Strategic Growth

Significant Growth Capital Investment to Continue Product Innovation, Scale Go-To-Market, and Pursue Strategic Acquisitions

TORONTO, Sept. 9, 2020 /PRNewswire/ – Wagepoint, makers of online payroll software for Canadian and U.S. small business, announced a majority recapitalization and strategic growth investment by funds advised by Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, a premier asset management firm focused on the media, communications, education, software and service industries. The transaction includes more than $10 million of new capital that will be used to fuel Wagepoint’s next phase of growth, including continued product innovation, scaling the go-to-market and best-in-class customer support organization, and pursuing strategic acquisitions, in order to better serve Wagepoint’s small business clients across North America.

Wagepoint Announces Strategic Investment by Providence Strategic Growth. From left to right: Ryan Dineen (Co-Founder & Chief Architect), Leena Thampan (CPO), and Shrad Rao (Co-Founder & CEO).

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