Northern Light Group, a leading enterprise knowledge management platform for competitive intelligence and market research, announced a $23 million growth investment by LoneTree. The funding will accelerate Northern Light’s ability to scale, providing capital and resources to drive continued product innovation and enhance its ability to support enterprise customers worldwide.
Through a customer base that includes many of the world’s largest pharmaceutical, technology, financial services, consumer products, manufacturing, and healthcare companies, Northern Light has built a loyal following of research-driven organizations that require enterprise-wide access to information. And these organizations depend on Northern Light’s intelligence and research for successful strategy, R&D, product management, marketing and sales.
As part of the funding, Mike Devine, Rhett Lambert, and Peter Bozian will join Northern Light’s Board of Directors. And the terms of the deal were undisclosed.
Goulston & Storrs PC provided legal counsel to Northern Light. Goodwin Procter LLP represented LoneTree.
KEY QUOTES:
“In a world where enterprises rely on massive data sets across multiple first and third-party systems to shape their growth and product strategies, it is imperative for organizations to effectively manage their content and data to maximize insights potential and create a more knowledgeable and efficient workforce. Northern Light has emerged as a leader through consistently working to understand each customer’s unique needs, and providing transformative solutions. It has a phenomenal team and an exceptional company culture, and we are looking forward to supporting them in the next chapter of their growth and evolution.”
– Mike Devine, Partner at LoneTree
“Over the past two decades, Northern Light has prioritized customer satisfaction and continuous innovation as a means of building the market’s most comprehensive enterprise-focused competitive intelligence and market research offering. The investment by LoneTree is a significant milestone, validating our current and future market position and product strength. We are well-positioned to drive innovation, deliver exceptional value to our customers and foster new career growth opportunities for our employees.”
“We chose LoneTree as a partner because of the firm’s sector expertise, collaborative investment approach and experience with helping companies accelerate their growth. Together, we will continue to innovate and better meet the evolving needs of our customers.”
– David Seuss, CEO of Northern Light