Wagepoint, a payroll software company that traces its roots to Nova Scotia, is now majority-owned by funds affiliated with Providence Equity Partners following a recapitalization of more than $10 million.
Wagepoint issued a statement late Wednesday that funds advised by Boston-based Providence Strategic Growth, or PSG, the growth equity affiliate of Providence Equity Partners, have invested more than $10 million. The money will be used to fund the company’s next phase of growth. Betakit reported that the funding involved a majority recapitalization in which PSG bought out a number of