Willkie represented Diligent, a portfolio company of Insight Partners, in the transaction.
On August 5, Diligent Corporation, a global modern governance company used by nearly 700,000 board directors and leaders, announced that it has received an increased investment from Clearlake Capital Group, L.P and a new investment from funds managed by Blackstone Tactical Opportunities (NYSE:BX).
Since Insight Partners, Diligent’s largest investor, took the company private in February 2016, Diligent has scaled from 4,400 to more than 19,000 clients and transformed its product portfolio into an integrated suite of SaaS solutions that facilitates secure collaboration, communication and meeting management for boards, committees and leadership teams. Diligent further empowers leaders to turn effective governance into a competitive advantage by driving accountability and transparency in their organizations, while addressing stakeholder and shareholder priorities and satisfying security and compliance requirements.
Diligent is a pioneer of modern governance software. Leveraging insights from a team of industry innovators, as well as highly secure, integrated SaaS technologies, Diligent’s industry-leading suite of solutions helps work gets done at the executive and board levels. The largest global network of directors and executives, Diligent is relied on by more than 19,000 organizations and nearly 700,000 leaders in more than 90 countries. Diligent serves some of the largest public governing bodies, including more than 50% of the Fortune 1000, 70% of the FTSE 100, and 65% of the ASX.
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments.
Clearlake Capital Group, L.P. is a private investment firm founded in 2006 targeting the technology, industrials and consumer sectors. Clearlake currently has approximately $24 billion of assets under management and its senior investment principals have led or co-led over 200 investments. One of the world’s leading investment firms, Blackstone’s asset management businesses, with $564 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis.
The Willkie team representing Diligent and Insight was led by partners Morgan Elwyn, Thomas Mark and Ziyad Aziz, and included associate Erin Kinney.