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TAMPA — Riverside Partners, a private equity firm based in Boston, invested in Pilgrim Software Inc., a Tampa-based company this week. Few financial specifics were given, but Riverside does say that it focuses on companies with between $20 million and $200 million in revenues.
Since its founding in 1989, Riverside Partners has invested $500 million in more than 50 companies, a release said.
Pilgrim Software builds compliance and risk management software for companies that operate in highly regulated industries. Ami Utji, the company's president, CEO and co-founder, said that, “Riverside Partners' focus on both technology and health care end-markets, their operating expertise, and their entrepreneurial culture made them the best choice.”
Philip Borden, a general partner at Riverside, said Pilgrim's product offerings are especially valuable in today's market, referring to the current business environment as “[an] era of increased scrutiny by the FDA and other regulatory bodies.”
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