HGGC, a middle-market private equity firm, led a $115m investment in Upland Software, a provider of cloud-based enterprise work management software. "HGGC has a proven track record of building value in the software sector through deploying capital and partnering with management teams to enhance customer value and drive growth, both organically and through acquisitions. The HGGC partnership, operational and strategic resources and long-term investment horizon will help us to fully capitalize on the once-in-a-decade acquisition opportunity we see emerging as recent turmoil in financial markets fundamentally reshapes funding and valuations for venture backed cloud software companies," Jack McDonald, Upland Chairman and CEO.