Growth Capital • Software

JMI Equity and Thoma Bravo Invest In Raptor Technologies

On November 19, 2018, private equity firms JMI Equity and Thoma Bravo invested in software company Raptor Technologies

Investment Context
  • This is JMI Equity’s 43rd and Thoma Bravo’s 34th transaction in the Software sector.
  • This is JMI Equity’s 85th and Thoma Bravo’s 72nd transaction in the United States.
  • This is JMI Equity’s 7th and Thoma Bravo’s 10th transaction in Texas.

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Investment Summary

Date November 19, 2018
Target Raptor Technologies
Sector Software
Investor(s) JMI Equity
Thoma Bravo
Deal Type Growth Capital

Target Company

Raptor Technologies

Houston, Texas, United States
Raptor Technologies is a provider of integrated school safety technologies for K-12 schools across the United States. Raptor developed the first Web-based visitor management system designed for schools. The Raptor system monitors visitors, contractors, and volunteers who enter a building and provides instant screening for sex offender status and custody orders. The system has flagged more than 50,000 registered sex offenders attempting to enter K-12 schools. In the fall of 2017, the company unveiled Raptor Emergency Management, a system that helps schools prepare for, respond to, and recover from an incident with drill management, active incident management, and parent-student reunification tools. It also provides real-time reporting dashboards allowing administrators to track the status and location of every individual in a building in the event of an emergency. Raptor Technologies was founded in 2002 and is based in Houston, Texas.
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Investors Overview 2

Investor

JMI Equity

La Jolla, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 7.5B USD
Size Mega
Type Sector Focused
DESCRIPTION

JMI Equity is a private equity firm focused on investments in software, internet, business service, and healthcare IT. Targeted businesses typically help automate and optimize business and information technology processes. The Firm will consider investments at all stages of development, including early-stage companies, self-funded businesses requiring growth capital, and later stage businesses in need of buyout or recapitalization funding. JMI looks to commit at least $25 million per transaction. JMI Equity was formed in 1992 and maintains offices in San Diego and Baltimore.


Deal Context for Investor #
Overall 98 of 130
Sector: Software 43 of 55
Type: Growth Capital 29 of 52
State: Texas 7 of 9
Country: United States 85 of 114
Year: 2018 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-14 Catapult Learning

Philadelphia, Pennsylvania, United States

Catapult Learning is an outsourced K-12 educational services platform in the U.S. The Company serves more than 300,000 K-12 students across 300+ districts, including 16 of the 20 largest districts, in 38 states and the District of Columbia. Catapult Learning was founded in 1976 and is based in Philadelphia, Pennsylvania.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-05 ARCHIBUS

Boston, Massachusetts, United States

ARCHIBUS is an Integrated Workplace Management System (IWMS) platform that leads the global marketplace in applying comprehensive technology solutions and services to manage your built-environment. ARCHIBUS’ worldwide Federated Ecosystem enables organizations across the globe to consolidate systems onto a single integrated platform for all the data, planning and operations of real estate, infrastructure, and facilities.

Buy -
Investor

Thoma Bravo

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1980
PE ASSETS 127.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thoma Bravo is a private equity firm that primarily invests in or acquires US-based middle-market businesses. While Thoma Bravo will consider a variety of transaction situations, including take-privates, buyouts, carve-outs, recapitalizations, and growth equity financings, the Firm has a special interest in tech consolidation opportunities. Target companies generally have a history of profitability with EBITDA of at least $20 million. The Firm's equity commitment size range is $100 to $750 million. Sectors of interest include enterprise and infrastructure software, education, distribution, financial services and consumer goods/services. The Firm will not invest in new inventions or technologies, developmental products or services, start-ups, biotech, motion pictures, distressed businesses, oil/gas, or real estate. Thoma Bravo was formerly known as Thoma Cressey Bravo and before that Golder Thoma & Co. The Firm was originally formed in 1980 and is based in Chicago, Illinois.


Deal Context for Investor #
Overall 75 of 151
Sector: Software 34 of 69
Type: Growth Capital 6 of 19
State: Texas 10 of 19
Country: United States 72 of 132
Year: 2018 12 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-05 Veracode

Burlington, Massachusetts, United States

Veracode develops products to help secure web, mobile and third-party applications across the software development lifecycle. Veracode's complete set of offerings help customers reduce the risk of data breaches, increase the speed of secure software delivery, meet compliance requirements, and cost effectively secure their software assets- whether that’s software they make, buy or sell. Veracode was founded in 2005 and is based in Burlington, Massachusetts.

Buy $950M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-29 Local Media of America

San Diego, California, United States

LMA operates three 100,000 watt class C radio stations serving the San Diego, CA market, the country’s 17th largest radio market, with a variety of popular music formats and e-marketing opportunities. The Company also seeks additional radio broadcasting opportunities in large markets throughout the U.S. The current LMA stations are: XHRM-FM 92.5 (“Magic”), a “Rhythmic Adult Contemporary” station; XHTZ-FM 90.3 (“Z90”), a “Rhythmic Contemporary Hit Radio” station; and XETRA-FM 91.1 (“91X”), an “Alternative Music” station.

Sell -