Growth Capital • Internet Software and Services

Advent International and TCV Invest In Certinia

On April 24, 2014, private equity firms Advent International and TCV invested in internet software and services company Certinia

Investment Context
  • This is Advent International’s 8th and TCV’s 16th transaction in the Internet Software and Services sector.
  • This is Advent International’s 60th and TCV’s 57th transaction in the United States.
  • This is Advent International’s 7th and TCV’s 7th transaction in Texas.
Investment Fate
  • Certinia was sold to a consortium of financial buyers in 2023.

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Investment Summary

Date April 24, 2014
Target Certinia
Sector Internet Software and Services
Investor(s) Advent International
TCV
Deal Type Growth Capital

Target Company

Certinia

Austin, Texas, United States
Certinia is a cloud ERP and PSA provider. Certinia offers customer-centric business applications on the cloud platform from Salesforce. Certinia was founded in 2009 and is based in Austin, Texas.
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Investors Overview 2

Investor

Advent International

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 91.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Advent is a global private equity firm that targets investments in North America, Europe, Asia, and Latin America. Advent's emerging market efforts are concentrated in Central Europe and Latin America. Advent seeks transactions valued between $50 million and $5 billion and can commit up to $2 billion of equity capital per investment. Broad areas of interest include business & financial services, retail & consumer, technology, media, & telecoms, healthcare & life sciences, and industrial. Prospective transaction types include buyouts, growth capital financings, take privates, and recapitalizations. Advent was formed in 1984 and is based in Boston, Massachusetts.


Deal Context for Investor #
Overall 210 of 353
Sector: Internet Software and Services 8 of 14
Type: Growth Capital 15 of 30
State: Texas 7 of 12
Country: United States 60 of 106
Year: 2014 3 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-02 Connolly

Atlanta, Georgia, United States

Connolly is a provider of technology-enabled recovery audit services in the United States, Europe, and Canada.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-28 Skillsoft

Nashua, New Hampshire, United States

Skillsoft provides cloud-based learning solutions for its customers worldwide, ranging from global enterprises, government, and education to mid-sized and small businesses. Skillsoft's customer support teams draw on a wealth of in-house experience and a comprehensive learning e-library to develop off-the-shelf and custom learning programs tailored to cost-effectively meet customer needs. Skillsoft was formed in 1998 and is based in Nashua, New Hampshire.

Sell -
Investor

TCV

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 21.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Technology Crossover Ventures (TCV) is a private equity and venture capital firm focused on investments in growth technology companies. TCV looks to provide capital for growth, recapitalizations, acquisitions, and buyouts of technology companies in sectors such as internet, financial technology, infrastructure & communications, and software. TCV targets opportunities in North America and looks to commit between $10 and $500 million of equity capital per transaction. TCV was formed in 1995 and is based in Palo Alto, New York City, and London.


Deal Context for Investor #
Overall 64 of 85
Sector: Internet Software and Services 16 of 26
Type: Growth Capital 14 of 23
State: Texas 7 of 8
Country: United States 57 of 70
Year: 2014 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-12 Avalara

Durham, North Carolina, United States

Avalara provides a suite of cloud-based solutions designed to improve accuracy and efficiency by automating the processes of determining taxability, identifying applicable tax rates, determining and collecting taxes, preparing and filing returns, remitting taxes, maintaining tax records, and managing compliance documents. Avalara was formed in 2004 and is based in Durham, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-04 IQMS.com

Paso Robles, California, United States

IQMS.com is a provider of manufacturing software and ERP software systems for repetitive, process and discrete manufacturing industries. IQMS.com was founded in 1989 and is based in Paso Robles, California.

Buy -