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Passageways, Inc.

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Year established

2003

Location

Indianapolis IN US

Primary Industry

Software

About

Based in Indiana, US, and founded in 2003, Passageways, Inc. provides a board management solution called OnBoard for its clients. The company was founded by its CEO Paroon Chadha and Director Fred Coulson. Passageways serve more than 2,000 organizations and 12,000 boards and committees in 32 countries worldwide. The company also has offices in Europe, Middle East, Africa, and the Asia Pacific. The company received a growth investment from Five Elms Capital in September 2018, from Saratoga Investment Corp in January 2020, and raised a subsequent USD 100 million from JMI Equity in July 2021. The company's platform features include zoom integration (a video conferencing technology); meeting minutes builder, which allows clients to track attendance, create tasks, and mark motions as the meeting progress; agenda builder, which is a creation tool; meeting analytics, which provides aggregated and anonymized real-time insights; secure messenger, which allows clients to have a direct conversation or bring in the entire board into the discussion; e-signatures, which allows clients to send and sign documents and legal agreements from any device, roles; and terms limit management, which offers real-time insights about recruitment and succession plan, notes. OnBoard also offers annotation tools, which allows clients to create and record a note; director and officer questionnaires, which provides ongoing reminders to the clients' directors and streamlines reporting and review; task management, which enables clients to manage, track, and organize their actions and items happening throughout the meeting cycle; and dashboard, which allows clients to see news breaks and upcoming meetings live, as well as share documents. Following its investment from JMI Equity, Passageways, Inc. plans to use the capital to fuel its significant growth and product innovation for OnBoard and enhance its customer support, as well as invest in artificial intelligence and analytics.
Current Investors
Five Elms Capital, Saratoga Investment Corp

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Primary Industry
Software
Sub Industries
Social Networking & Communication Platform, Systems Management Software, Analytics & Performance Software
Website
www.onboardmeetings.com
Verticals
Cloud Computing, Mobile Apps
Company Stage
Mature - Growth Capital
Total Amount Raised
Subscriber access only

Deals

Deals Type
Add-on
Add-on
Add-on
Secondary Buyout
Growth
Deal Status Target (s) Deal Date Investor(s) Seller(s) Deal size (Mn) Enterprise value (Mn) Post-money valuation (Mn) EBITDA multiple (x) Revenue multiple (x) Lead partner (s)
Completed Govenda 23 May 2024
Completed OnSemble Intranet 19 Nov 2021
Completed eSCRIBE Software Ltd. 04 Aug 2021
Completed Passageways, Inc. 11 Jun 2021
Completed Passageways, Inc. 30 Jan 2020
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