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Pamlico Capital buys Veson share

Pamlico Capital has completed a growth investment in Veson Nautical, which will see co-founder and CEO John Veson, along with COO Sean Riley and other management team members, maintain significant ownership in Veson and continue to manage the company with support from Pamlico.

{mprestriction ids="1,2"}Headquartered in Boston, Massachusetts and founded in 2003, Veson Nautical’s flagship software systems for the maritime industry, IMOS and Veslink, are used by approximately 8,000 users at more than 200 clients. The company has additional offices in London and Singapore.

“We believe Veson is well positioned for future growth by continuing to provide best-in-class software solutions to maritime organisations around the world,” said Mr Veson.

“Our team is proud of our success to date and is excited to bring in Pamlico as our first institutional equity partner. We plan to leverage their extensive experience investing in the software sector and successful history of supporting founder-owned businesses to accelerate our company’s growth and continue our core mission of propelling maritime commerce.”

Veson Nautical is the fourteenth investment in Pamlico Capital III, a fund with $650 million of committed capital, though the financial terms of this Veson deal have not been disclosed.

“Pamlico seeks to invest in leading vertically-focused software companies, and Veson is no exception,” said Walker Simmons, Pamlico Partner.

“John and the Veson team have built the leading commercial maritime operations software platform for a loyal base of clients, for whom they are solving increasingly complicated freight trading problems.”

The funding provided will be used to accelerate core product innovation, as well as to expand into other closely related market areas.{/mprestriction}

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