GSoft announces CA$125 million investment from CDPQ to accelerate growth strategy

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Jun 06, 2023, 08:31 ET

Investment will support acquisition strategy to broaden product offering and create more value for customers

MONTRÉAL, June 6, 2023 /PRNewswire/ - GSoft, a leading software company behind products that improve the employee experience for 16,000 companies in more than 100 countries, announced today an investment of CA$125 million from CDPQ, a global investment group. Bootstrapped and profitable since its foundation 17 years ago, this external funding is an important milestone for GSoft.

Headquartered in Montreal, Canada, GSoft has created highly successful software products that make work simpler, kinder and faster. Flagship products include:

ShareGate, a Microsoft 365 management solution used by more than 75,000 IT professionals worldwide to achieve their company's digital transformation
Officevibe, software designed to equip human resources leaders and managers to contribute to their team's performance, engagement, and recognition

"GSoft's success definitely came from our unique ability to build simple products that solve a few key problems in the workplace. Today, the world of work is changing rapidly, creating many challenges and we see a lot of opportunities to improve the employee experience – a truly unique moment in time and a massive playground for us," says Simon De Baene, GSoft's Co-Founder and CEO. "It's the right time to take GSoft to the next level and continue to build and grow our company so that it can thrive for decades to come. With the support of CDPQ, we have the financial means to seize more of the opportunities we see in the market and achieve our big ambitions for the future."

"Supported by a growing demand for products that enhance employee experience in increasingly digital workplaces – combined with an impressive track record for building successful products – GSoft is a partner that delivers sustained value for its clients," says Kim Thomassin, CDPQ's Executive Vice-President and Head of Québec. "CDPQ is pleased to support the execution of GSoft's strategic growth plans as the company looks to broaden its product offering and consolidate its market position."

"CDPQ is an ideal partner for us because they value our strong fundamentals and our sustainable approach to growth, both of which have been at the heart of our success from day one and set us apart in the B2B SaaS market," says Martin Gourdeau, President & General Manager at GSoft. "With their support, we will accelerate our growth strategy through acquisitions, broaden our product offering, amplify GSoft's presence and gain market share in existing and new markets. Today's announcement marks a very important milestone in GSoft's journey – one we are tremendously proud of – and as we look to the future and the opportunities ahead, we believe the path forward for GSoft is very exciting."

Two recent additions to GSoft's product portfolio came from GSoft's innovation lab, the R&D branch of the company. The first of these is Softstart, software that transforms employee onboarding into a vibrant, organized and efficient experience. The second is Talentscope, software that empowers people-first teams to map their skills, develop their talents and accelerate their growth to create more engaging and productive workplaces. Rounding out GSoft's current product portfolio is Didacte, a learning management system (LMS) recently acquired and designed to build, manage and monitor employee training.

ABOUT CDPQ

At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at December 31, 2022, CDPQ's net assets totalled CAD 402 billion. For more information, visit cdpq.com, follow us on Twitter or consult our Facebook or LinkedIn pages.

CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries.

ABOUT GSOFT

GSoft is a software company on a mission to create products that make work simpler, kinder and faster. With thousands of companies in more than 100 countries as customers, we enable people to work at their best through products that improve the employee experience:

ShareGate, a leading Microsoft 365 management solution
Officevibe, software designed to equip HR leaders and managers with the tools they need to bring out the best in their teams
Softstart, software that transforms the employee onboarding into a vibrant, organized and efficient experience
Didacte, a learning management system (LMS) designed to build, manage and monitor employee training
Talentscope, software that empowers people-first teams to map their skills, develop their talents and accelerate their growth to create more engaging and productive workplaces