Norwest Venture Partners invests $35 million in PICS Auditing
Jan 17, 2013 (Datamonitor Financial Deals Tracker via COMTEX) --
Norwest Venture Partners, an investment firm, has made a $35 million minority equity investment in PICS Auditing LLC, a software-as-a-service developer which provides contractor screening and credentialing software. Both the entities are based in the US.
Deal Value (US$ Million) 35
Deal Type Private Equity
Sub-Category DIRECT INVESTMENT
Deal Status Completed: 2013-01-16
Target (Company) PICS Auditing LLC
PICS will use the capital infusion to expand into new sectors and geographies, as well as develop new product offerings that augment the value of the PICS platform to contractors and enterprises.
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