Bessemer and Insight take Netsmart private for $115M

Insight Venture Partners and Bessemer Venture Partners have acquired Netsmart Technologies, a Great River, New York public software company that serves companies in the health and human services sector, and taken it private.

They paid $115 million, according to the statement. The deal is notable because Bessemer has long focused on early-state venture investing, and it appears the latest sign that venture firms are being enticed to partake in later stage deals — in part because of the intense competition at the early stage, and because of the confusion caused by the sheer number of start-ups.

Members of the Netsmart management team participated in the acquisition.

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