On July 16, 2024, Warburg Pincus led a strategic investment in Toronto-based Varicent, a sales performance management software provider, with participation from existing investors Great Hill Partners and Spectrum Equity, alongside company management. The investment aims to accelerate Varicent’s AI-driven capabilities and expand its global market presence.

Legal advisors included Paul Hastings LLP and Blake, Cassels & Graydon LLP (Blakes) for Varicent and Great Hill Partners, Kirkland & Ellis and Paul, Weiss, Rifkind, Wharton & Garrison LLP for Warburg Pincus, and Choate, Hall & Stewart LLP for Spectrum Equity. Financial advisors were William Blair and Guggenheim Securities for Varicent, Great Hill Partners, and Spectrum Equity, while Moelis & Company advised Varicent’s Board. Harris Williams advised Warburg Pincus.

Varicent, recognized as one of Canada’s fastest-growing companies, provides a cloud-based platform optimizing sales performance through AI-driven analytics for sales, finance, and HR teams. Warburg Pincus aims to support Varicent’s next growth phase, including potential acquisitions and partnerships.

Financial terms were not disclosed.