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20 January 20225 minute read

DLA Piper advises mPulse Mobile in growth investment from PSG

DLA Piper represented mPulse Mobile, a leader in conversational AI and digital engagement solutions for the healthcare industry, in a growth investment from PSG, a leading growth equity firm partnering with middle-market software and technology-enabled services companies.

The funding will accelerate mPulse’s go-to-market expansion, enable innovation across mPulse’s health engagement solutions and fuel organic and inorganic growth opportunities. With this investment, PSG becomes a majority shareholder in mPulse Mobile. Current mPulse investors also participated in this round, including Optum Ventures, OCA Ventures, HLM Venture Partners, Echo Health Ventures, SJF Ventures and Bonfire Ventures.

“We are thrilled to have supported mPulse Mobile and its stockholders through this transformative investment,” said Randy Socol, the DLA Piper partner who led the firm’s deal team. “Having worked with the company since its formation in 2014 and through multiple earlier investment rounds, we’ve enjoyed our partnership with management, the investors and the board over the past seven-plus years and are excited for all involved. The team has built a great company, and we’re excited for them as they move forward to continue their efforts with PSG’s extensive resources and experience.”

“DLA has been a trusted partner since our early days, and their exceptional transactional capabilities combined with their strategic approach and strong understanding of our company and market has been an invaluable resource. This investment enables us to continue providing thought leadership to leading healthcare organizations around market access and program compliance as they seek to realize the benefits of omnichannel health engagement strategies,” said Chris Nicholson, CEO of mPulse.

In addition to Socol (San Diego), the DLA Piper team representing mPulse included partner Steve Reil and associate Ian Boardman (both of Los Angeles), as well as partners Neil Balmert, Michelle Lara (both of San Diego) and Sarah Tauman (San Francisco); attorney Bri Charles (Washington, DC); and associates Eric Liu (Seattle), Junqi Zhang (Washington, DC), Andrew Nieh, Wei Li (both of Silicon Valley) and Katarina Karaoglanova (San Diego).

DLA Piper partner Mike Hazzard (Washington, DC) also assisted mPulse with compliance and diligence-related inquiries and has worked closely with mPulse on consumer protection compliance related to the Health Insurance Portability and Accountability Act, Telephone Consumer Protection Act, Federal Trade Commission Act and analogous state laws.

DLA Piper’s Private Equity practice includes more than 100 US lawyers who provide strategic counsel to private equity funds and the industry-leading companies they invest in. Pitchbook has repeatedly recognized DLA Piper as the second most active private equity law firm globally, further solidifying the strength of the firm’s team and its depth of experience executing private equity transactions.

The firm’s Healthcare sector consists of a multidisciplinary legal team with niche experience in health-related business and legal issues. The team regularly works with corporations and financial institutions, private investors, private equity groups, venture capital funds, institutional investors and portfolio companies in all types of healthcare transactions.