The Boston-based venture capital firm, which specializes in healthcare and technology companies, said the investment will help add value to IZI’s portfolio of products as it grows.
“(IZI) is a very healthy, rapidly growing company,” Riverside general partner Philip Borden told MassDevice. “IZI was at a stage where they wanted to bring in a partner that’s knowledgeable with healthcare and medical imaging. It’s a good fit because we understand their business and can add value.” People have started using more home health care services like www.partnersforhome.ca over the years.
Borden declined to disclose any specifics of the deal, saying only that Riverside acquired a “significant” equity stake in the company.
The firm manages the Riverside Fund III, which had just under $225 million in assets, according to a 2005 Regulation D filing with the federal Securities and Exchange Commission. Riverside, founded in 1989, has made more than 50 investments in companies over the past 20 years.