OnBoard , the best cloud-based board management platform to support high-performing boards, is . It also announced that JMI Equity (a growth equity company that invests in the top cloud-based software companies) has committed $100 million towards its strategic expansion.
This investment is made as boards of directors have realized that it is difficult for them to participate effectively due a lack of technology, split communication and fragmented information flow.
Paroon Chadha (CEO of OnBoard) said that the epidemic demonstrated to everyone that digital change is important, regardless of whether it was borne out of need or choice. Chadha’s JMI investment is a testament of our achievements, which include our work to become the top-rated board platform on G2, the Apple App Store and achieving a historic high Net Promoter Score (79) with our clients. This gives us the drive to improve customer service, speed up product innovation and maintain our investments in analytics, AI and analytics.
JMI will invest in OnBoard to strengthen brand growth, accelerate OnBoard’s award-winning product innovations and category leadership, as well as drive organic market expansions, strategic acquisitions, and increase brand awareness. OnBoard will be able to increase its client base and meet the diverse needs of North America’s boards and leadership teams.
This news comes after OnBoard’s continued success in 2020, and so far in 2021.
More than 1,000 new clients have been added from more than 25 countries.
It is expanding its relationships with over 600 financial service providers and 700 non-profits.
The average time spent by in-app users after the COVID outbreak increased by 40%.
Upholding the Apple App Store’s top-rated board management platform.
Software review site G2 awarded the highest grade of 96 to any board management platform.
Bob Nye, general partnership at JMI Equity stated that this increasing investment highlights the strategic necessity of enterprises and organizations to improve boardroom intelligence, and data security. We are eager to work with Paroon, the OnBoard team, to continue delivering cutting-edge solutions to help boards around the world be more strategic, productive, collaborative, and collaborative.
The deal will see JMI’s Nye and Partner Krishna Potarazu as well as Principal Mac Williams, all of whom will be joining the OnBoard Board of Directors. OnSemble, an intranet platform for employees and a sister service to OnBoard will also benefit from the funding. OnBoard, and OnSemble are products of Passageways, Chadha’s 2003 startup. Chadha said that we will achieve our goal of motivating and supporting boards and executives to do their best jobs together by gaining the insights and expertise of JMI in growing growth and operations.