The amount of the deal was not disclosed. As part of the transaction, Naveen Wadhera, a Managing Director at TA Associates, and Ethan Liebermann, a Principal at TA Associates, will join the Datix Board of Directors. Following the deal, existing investor Five Arrows Principal Investments, the European corporate private equity business of Rothschild Merchant Banking, will maintain a significant equity stake in Datix.
The company intends to use the funds to continue to expand operations.
Founded in 1986 and led by Seyed Mortazavi, Chief Executive Officer, Datix is a global provider of patient safety and healthcare risk management software. The company’s suite of software products enables over 20,000 sites among more than 800 customers to address daily incident management and regulatory needs through its interconnected modular solutions. The company has approximately 160 employees across four offices in London, Chicago, Washington, DC and Melbourne.