Lexipol’s technology aims to help law enforcement agencies, correctional facilities and fire departments reduce litigation risk and improve operational efficiency.
Riverside bought Lexipol in 2014, and added Praetorian Digital in 2019, Cordico in 2020 and The Rodgers Group in 2021.
Lexipol CEO Chuck Corbin said, “Riverside has been a fantastic partner, helping us to successfully expand into additional strategic segments which has allowed us to greater serve first responders and public servants.
“With Riverside’s help, we have integrated three valuable acquisitions into the Lexipol family, and have grown our core market position.”
The sale to GTCR is expected to close in the fourth quarter.
Riverside has completed more than 180 investments in the software and IT industry.
Earlier this year it bought into Danish crypto-based cybersecurity software provider Cryptomathic and construction tool tracking and operations software company ToolWatch.
Its last flagship fund, Riverside Micro-Cap Fund V, was closed on $1.2bn in 2018.
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