The Riverside Company Makes Cordico Investment
The Riverside Company, a global private equity firm focused on the smaller end of the middle market, has invested in Cordico, a provider of purpose-built, mobile health and wellness applications that deliver high-quality wellness tools, resources and assessments to public safety customers including law enforcement, fire, EMS, corrections and more.
First responders can access these mobile apps anonymously and conveniently 24/7 to get the behavioral health support they need. The investment merges Cordico with Riverside’s Lexipol platform, a provider of public safety policy and training solutions, targeting the same users as Cordico.
“We are thrilled about the opportunity to partner with Dr. David Black and the Cordico team to make these essential resources better available to all who need them,” said Riverside Managing Partner Loren Schlachet. “We plan to invest meaningfully in the Cordico technology stack and content offering, ensuring that first responders have access to the best resources available.”
This is Lexipol’s second transaction, having invested in Praetorian Digital in 2019. In addition to expanding Lexipol’s core addressable market, Cordico introduces a complementary product extension that addresses a critical need for Lexipol’s first responder customer base.
“Cordico is the clear industry leader in wellness applications for first responders and offers a highly complementary SaaS product that serves Lexipol’s core end market,” said Riverside Partner Joe Lee. “By leveraging Lexipol’s sales and marketing resources to drive cross-sell, we’ll be able to help Cordico reach more departments and agencies faster.”
“We are so passionate about strongly supporting first responders and utilizing technology to deliver industry-leading wellness solutions,” said Black, Founder and CEO of Cordico. “Working with Riverside and Lexipol is a phenomenal strategic fit, and we envision great innovations while serving vastly more people in high-stress professions.”
Working with Schlachet and Lee on the deal were Assistant Vice President Christopher Shea, Associate David Myers, Operating Partner Michael Davis and Finance Director Bart Thielen.