Tricor Group (Tricor) makes strategic investment in Praxonomy to fuel growth of the Praxonomy Board Portal, a Software as a Service (SaaS) solution for boards of directors.
HONG KONG–(BUSINESS WIRE)–#boardmeetings—Praxonomy, a provider of next-generation digital board portal solutions, today announced a strategic investment from Tricor, the leading business expansion specialist in Asia. The investment will make Tricor one of the firm’s largest shareholders.
Praxonomy’s software as a service platform simplifies the administration of board and senior leadership meetings, facilitates secure collaboration and provides instant access to up-to-date information and sensitive documents for directors and executives. The platform is built with high-grade data security along with a focus on simplicity and ease of use.
Tricor is Asia’s leading business expansion specialist providing integrated business, corporate, investor, human resources and payroll, corporate trust and debt services with over 50,000 clients worldwide, including 2,000 publicly listed companies in Asia and over 40% of the Fortune Global 500. This investment will further strengthen the two companies’ global partnership and Tricor’s overall corporate governance technology capabilities. Praxonomy’s technology already powers Tricor’s newly announced digital board portal offering, Boardfolio, and will complement SPOT, Tricor’s Hybrid Meeting solution.
“Praxonomy’s goal is to provide practical board portal solutions to organizations of all sizes while offering clients the security, data privacy and reliability to satisfy even the most complex requirements,” said Jay Shaw, CEO and Founder of Praxonomy. “We are delighted that Tricor shares our vision and are thrilled to deepen our partnership with this investment. Tricor is uniquely positioned to help accelerate our growth and maximize our potential.”
Praxonomy will use the investment proceeds to extend product capabilities and expand into new regions including selected markets in Asia and Europe.
As part of this investment, Tricor Hong Kong CEO, Joe Wan, will join the Board of Praxonomy as Chairman. Joe said, “I am delighted to introduce Praxonomy’s capabilities to Tricor’s clients. During COVID-19, these solutions are invaluable for customers to maintain a normal function to their best ability and meet the expectation of their share market regulations, shareholder, and members. Praxonomy is the best product in this space, I look forward to working closely with Praxonomy.”
Founded in 2017, Praxonomy offers a cloud-based board portal for board administrators, executives and directors to organise and manage board and committee meetings, access documents, communicate and execute their governance responsibilities. Packed with essential, easy-to-use features, the Praxonomy board portal facilitates more efficient meeting administration and document management, secure information sharing and easier collaboration between board members. Praxonomy’s operations are GDPR compliant and ISO 27001 and ISO 9001 certified for information security and quality management.
About Tricor Group
Tricor Group is the leading business expansion specialist in Asia, with global knowledge and local expertise in business, corporate, investor, human resources & payroll, and corporate trust & debt services. Tricor provides the building blocks for, and catalyzes every stage of clients’ business growth, from incorporation to IPO. Tricor has had a rapid expansion through organic growth and development as well as partnerships, mergers and acquisitions. The Group today has over 2,600 staff in 47 cities across 21 markets. In March 2017, the Permira Funds became the controlling shareholder of the Tricor Group, alongside management.
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