PDFTron Lands $71M Round
May 17, 2019
Systems has secured a $71 million investment led by Silversmith Capital
Partners, a Boston-based growth equity firm. PDFTron’s market-leading
software development kit (SDK) is used by hundreds of enterprise
customers around the world to enable digital transformation initiatives
by providing a comprehensive document processing, conversion, and
collaboration platform. This investment comes as the company has
experienced substantial growth, more than doubling its workforce since
the start of 2018.
PDFTron’s flagship product PDFTron SDK provides organizations with a
secure, cost-effective, and reliable way to embed advanced PDF and
document functionality within their software applications, with seamless
integration across all major web, desktop, and mobile platforms.
PDFTron’s products help companies increase productivity, while also
significantly accelerating their application development lifecycle and
reducing time to market. PDFTron is also the creator of XODO, a highly
rated and fast-growing document productivity application for consumers
and enterprises, powered entirely by PDFTron’s technology stack.
The investment will be used to support PDFTron’s significant R&D and
product development resources, and to pursue acquisitions in both North
America and Europe.
“We are thrilled to partner with Silversmith for the next phase of
PDFTron’s growth,” said Catherine Andersz, Co-Founder & CEO of PDFTron.
“Silversmith’s expertise helping enterprise software companies to expand
globally made them a perfect choice for us. This investment will allow
PDFTron to continue delivering market-leading solutions, while doubling
down on our commitment to long-term customer success and satisfaction.”
the core of PDFTron is world-class IP and a relentless focus on
delivering the best developer experience,” said Jim Quagliaroli,
Managing Partner of Silversmith. “We admire the team’s deep passion for
building leading software tools and are excited to support their vision
to expand globally in the years to come.”
“In an increasingly digital world, PDFTron’s products are serving
mission-critical use cases for blue-chip customers across nearly every
industry,” commented Sri Rao, General Partner of Silversmith. “We are
excited to partner with PDFTron as its first institutional investor, and
we look forward to supporting the company’s growth organically and
through strategic acquisitions.”
Quagliaroli and Rao have joined PDFTron’s Board of Directors along with
Catherine Andersz and Co-Founder & CTO Ivan Nincic.
Choate Hall & Stewart and the Canadian office of Gowling WLG served as
legal counsel to Silversmith Capital Partners, while Fasken Martineau
DuMoulin and Perkins Coie served as legal counsel to PDFTron. Debt
financing was provided by THL Credit. Deloitte Canada acted as the
exclusive financial advisor to PDFTron. Financial terms of the
investment were not disclosed.