Growth Capital • Internet Software and Services

Sorenson Capital and ICONIQ Capital Invest In Pluralsight

On August 27, 2014, private equity firm Sorenson Capital and growth capital firm ICONIQ Capital invested in internet software and services company Pluralsight

Investment Context
  • This is Sorenson Capital’s 8th and ICONIQ Capital’s 5th transaction in the Internet Software and Services sector.
  • This is Sorenson Capital’s 32nd and ICONIQ Capital’s 7th transaction in the United States.
  • This is Sorenson Capital’s 3rd and ICONIQ Capital’s 1st transaction in Texas.
Investment Fate
  • Pluralsight went public in 2018.
  • Pluralsight was sold to a financial buyer in 2020 for 3.5B USD.
  • Pluralsight was recapitalized in 2024.

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Investment Summary

Date August 27, 2014
Target Pluralsight
Sector Internet Software and Services
Investor(s) Sorenson Capital
ICONIQ Capital
Deal Type Growth Capital

Target Company

Pluralsight

Westlake, Texas, United States
Pluralsight is a provider of technical skill development solutions. The Company's cloud-based technology learning platform provides a broad range of tools, including skill assessments, a curated library of courses, learning paths, and business analytics. Pluralsight was formed in 2004 and is based in Westlake, Texas.
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Investors Overview 2

Investor

Sorenson Capital

Lehi, Utah, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2003
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Sorenson Capital is a private equity firm that seeks to support buyout and growth capital financings of lower middle-market companies. Sorenson invests across a broad range of industries and generally pursues companies with significant market share, high barriers to entry, fragmented industry competition, motivated managment, and sustainable pricing and profit margins. Target businesses typically have sales of $30 to $300 million with earnings of $3 to $25 million. Sorenson's geographic preference is for opportunities in the Mountain West and West Coast regions of the US. Sorenson raised its inaugural fund in 2004 and is based in Lehi, Utah.


Deal Context for Investor #
Overall 34 of 48
Sector: Internet Software and Services 8 of 13
Type: Growth Capital 12 of 17
State: Texas 3 of 3
Country: United States 32 of 46
Year: 2014 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-14 Goal Zero

Bluffdale, Utah, United States

Goal Zero Corp. is an innovator of portable solar power systems that power a variety of electronic devices anywhere and at anytime. Providing a perfect blend of portability, power, and ease-of-use, their products feature full solar energy systems – solar panels, power packs and accessories – each designed to work together.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-21 Rural Physicians Group

Greenwood Village, Colorado, United States

Rural Physicians Group provides inpatient care and operational performance with its unique hospitalist and surgical models. Rural Physicians Group helps hospitals increase patient census and enhance patient safety and quality. Rural Physicians Group was founded in 2005 and is based in Greenwood Village, Colorado.

Buy -
Investor

ICONIQ Capital


Category Growth Capital Firm
Founded 2011
PE ASSETS 80.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

ICONIQ Capital is a private investment firm that manages capital on behalf of high-net-worth individuals, families, and institutions, with a particular focus on the technology sector. The Firm operates across multiple investment strategies including growth equity, venture capital, real estate, and philanthropic initiatives. ICONIQ Capital was formed in 2011 and is based in San Francisco, California.


Deal Context for Investor #
Overall 8 of 91
Sector: Internet Software and Services 5 of 33
Type: Growth Capital 4 of 17
State: Texas 1 of 3
Country: United States 7 of 80
Year: 2014 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-22 Smartling

New York City, New York, United States

Smartling is a provider of automated, cloud-based translation management solution. Smartling's content solution helps brands gain a more competitive global position by transforming the way their content is created and consumed around the world. Smartling was founded in 2009 and is based in New York City, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-16 Adyen

Amsterdam, Netherlands

Adyen is a global technology company focused on payments. It has built an efficient single platform that enables the acceptance and processing of cards and local payments globally across its merchants' online, mobile and point of sale channels. Adyen's global platform has integrated and simplified the payments value chain, enabling it to partner with large merchants to rapidly scale their businesses both locally and globally, without the varied inefficiencies inherent in traditional payment platforms. Adyen was founded in 2006 and is based in Amsterdam, Netherlands.

Buy -