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Workfront Announces $280 Million in Strategic Secondary Investment

March 13, 2019 / HR Technologist

Workfront®, an enterprise work management application platform company, today announced W Capital Partners, Susquehanna Growth Equity, and AB Private Credit Investors acquired a minority stake in the company worth approximately $280 million from existing equity holders through an organized secondary process. As part of the investment, Blake Heston, managing director at W Capital, and Martin Angert, director at Susquehanna Growth Equity, will join Workfront's Board of Directors. Goldman Sachs & Co. LLC served as exclusive placement agent, and Goodwin served as legal counsel to Workfront. Existing investors Openview, Greenspring, and JMI Equity remain significant investors in the company.