Boston Logic Accelerates Growth with a Significant Investment from Providence Equity
BOSTON, Mass. (October 24, 2016) – Boston Logic (http://www.bostonlogic.com), a software-as-a-service (Saas) technology platform that powers enterprise and boutique leading real estate brokerages nationwide, today announced it has received a significant growth investment from Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, a leading global private equity firm with $47 billion in assets under management. Boston Logic will use the investment to accelerate its ability to provide its real estate customers with technologies that help their businesses succeed.
The Boston Logic Platform powers desktop and mobile websites, CRM, email marketing, marketing automation, data management, and more for brokers, teams and individual agents. Boston Logic provides software to prominent U.S. brokers, including Pacific Union Realty in San Francisco and Harry Norman Realtors in Atlanta, as well as numerous midsize and smaller brokerage companies and agent teams.
“Providence is the partner best suited to help Boston Logic reach even bigger goals,” said David Friedman, founder and CEO of Boston Logic. “We are at an exciting time in our history and well positioned to expand in ways that further propel our customers as technology leaders. Providence has a history of success in helping vertically focused software platforms expand and more rapidly realize market opportunities. We are excited to partner with them and look forward to benefiting from their strategic and operational expertise to continue our considerable momentum.”
“Boston Logic has a long history of demonstrating value to its clients,” said Marco Ferrari, Managing Director at PSG, who will join the Boston Logic Board of Directors. “David and his team have built an excellent technology platform and have been a driving force of innovation in their industry. We are very excited to partner with this exceptional team and help them build on their success.”
“Too many real estate brokerages are still cobbling together solutions from a number of providers,” said Bill Skarinka, Vice President at PSG. “Boston Logic has created a single, integrated platform that delivers a complete solution and serves as the hub for the day-to-day success of a brokerage. The Company is poised to continue to deliver value to its customers through its commitment to innovation, and we are eager to play a part in this growth.”
Sign up for a demo of the Boston Logic Platform at http://accelerate.bostonlogic.com/request-a-demo.
About Boston Logic
Boston Logic (http://www.bostonlogic.com) provides software, online marketing and design services to real estate companies looking to be the technology leaders in their marketplace. The Boston Logic platform combines CRM, websites, content management, marketing automation and data management into one easy platform for real estate companies to manage their leads and digital marketing with ease. The company was formed in 2004 in Boston, Mass.
JMP Securities served as financial advisor to Boston Logic in connection with the transaction.
About Providence Equity
Providence (http://www.provequity.com) is a premier, global asset management firm with $47 billion in assets under management across complementary private equity and credit businesses. Providence pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm’s inception in 1989, Providence has invested in more than 150 companies and is the leading equity investment firm focused on the media, communications, education and information industries. Providence is headquartered in Providence, R.I., and has offices in New York, London, Hong Kong, Singapore, and New Delhi.
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