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CambridgeSoft Inc. has disclosed the dollar value of a private financing it announced earlier this week, reporting in a regulatory filing that the equity funding received from Health Evolution Partners and Goldman Sachs & Co. was worth $31.3 million. The value of the deal was previously undisclosed.
CFO James Reilly said CambridgeSoft will use the funds as part of a recapitalization. CambridgeSoft has zero debt, he said, but the company is restructuring its equity ownership. Edison Venture Fund had bought into the company in 2002, primarily through secondary selling.
Health Evolution Partners is a new addition to the Cambridge-based life sciences software maker’s investors. Goldman Sachs is a return backer, having participated in a $21 million equity round last May. Including that round, the privately held company, founded in 1986, has so far taken in at least $57.3 million.
With 153 domestic employees and 230 full-time outsourced workers, CambridgeSoft has between $50 million and $60 million in annual revenue, Reilly said.
“Our objective is to continue to grow in our support of research and development for pharma and biotech companies, and become a premier supplier to our researchers,” he said.
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