OnBoard Receives $100M Growth Investment from JMI Equity

Paroon Chadha, who co-founded OnBoard’s parent company Passageways in 2003, continues to be the CEO of OnBoard and its sister solution OnSemble.

JMI Equity made a strategic investment of $100M in OnBoard, a cloud-based management system for boards with high performance. It is based out of Indianapolis, IN.

This transaction will see JMI Equity’s General Partners Bob Nye (JMI Equity) and Partner Krishna Potarazu join the OnBoard Board of Directors.

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The company intends to use the funds to fund product innovation, market expansions as well as strategic acquisitions. This will enable the company to reach new customers, serve boards and meet the complex needs and requirements of North America, EMEA, and APAC’s leadership teams.

Paroonchadha is OnBoard’s CEO. OnBoard provides board intelligence services to more than 2,600 organizations and their 12,000 committees in 32 countries. Customers include nonprofit, higher education, healthcare systems and government.

The investment will also be beneficial to OnBoard, which will allow it to grow and innovate OnSemble (an intranet platform for employees). OnBoard and OnSemble are all products of Chadha’s 2003-founded parent company Passageways.

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