ParkerGale Capital, a technology-focused private equity firm based in Chicago, has added two software companies to its investment portfolio. Financial terms of both transactions, which include Ipro Tech LLC and Profisee, were not disclosed. The firm backed both companies from its first buyout fund, valued at $240 million.

Ipro Tech is a Tempe, Arizona-based eDiscovery software provider that helps corporations and law firms organize and produce litigation data of various sizes. The company, founded in 1989, develops automated digital discovery (ADD) technology.

Profisee, based in Alpharetta, Georgia, is a service provider of master data management (MDM) software. The target will use ParkerGale’s funding to invest across all of its departments, with a focus on its global partner program, software development and potential acquisition opportunities.

The MDM software technology industry is a $2 billion market overall, according to ParkerGale founder Kristina Heinze. “Clearly, MDM is a compelling business strategy for enterprises of all sizes - with Profisee extremely well positioned to drive enterprise MDM uptake in the small-to-medium business well as Microsoft technology based organizations.” Heinze was recognized as one of The Most Influential Women in Mid-Market M&A by Mergers & Acquisitions.

Though ParkerGale is a newly-established private equity firm, the team has worked together for more than a decade before spinning off to launch the next generation of middle-market funds. The firm was formed in 2014 by the former technology investment team from Chicago Growth Partners, including founder Kristina Heinze and partners Dave Chandler, Devin Mathews, Jim Milbery, Ryan Milligan, chief financial officer Corey Dossett and office manager Sharon Janowski. The firm’s other tech-enabled investments include: AirCraft Technical Publishers; CaseBank Technologies Inc ; and SmartBin.