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Validity secures strategic investment, closes Return Path purchase

Validity Inc., which provides software for managing customer data, said it secured strategic investment from lower-middle-market growth equity firm Providence Strategic Growth Capital Partners LLC and closed its acquisition of Return Path Inc. for an undisclosed sum.

Founding Validity investor Silversmith Management LP also participated in the investment round, financial terms of which were not disclosed.

Providence Strategic Growth Managing Director Tom Reardon and CEO Mark Hastings will join Validity's board.

Validity will use the investment to accelerate its market expansion, support the development of new solutions and drive growth, the company said.