Venture • Software

Thoma Bravo, Stripes and Brighton Park Capital Invest In Paradox

On December 27, 2021, private equity firm Thoma Bravo, growth capital firm Stripes and growth capital firm Brighton Park Capital invested in software company Paradox

Investment Context
  • This is Thoma Bravo’s 57th, Stripes’ 3rd and Brighton Park Capital’s 2nd transaction in the Software sector.
  • This is Thoma Bravo’s 108th, Stripes’ 38th and Brighton Park Capital’s 7th transaction in the United States.
  • This is Thoma Bravo’s 3rd, Stripes’ 1st and Brighton Park Capital’s 1st transaction in Arizona.
Investment Fate
  • Paradox was sold to a strategic buyer in 2025.

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Investment Summary

Date December 27, 2021
Target Paradox
Sector Software
Investor(s) Thoma Bravo
Stripes
Brighton Park Capital
Deal Type Venture
Advisor(s) DLA Piper (Legal)

Target Company

Paradox

Scottsdale, Arizona, United States
Paradox is a conversational AI and workflow automation software platform that serves human resources functions in companies. Paradox offers an AI-powered recruiting assistant, named Olivia, focused on capturing candidate data, answering general candidate questions, qualifying leads, and scheduling interviews. Paradox was founded in 2016 and is based in Scottsdale, Arizona.
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Investors Overview 3

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 119 of 151
Sector: Software 57 of 69
Type: Venture 4 of 4
State: Arizona 3 of 3
Country: United States 108 of 132
Year: 2021 20 of 20
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-20 Figment

Toronto, Ontario, Canada

Figment is the largest blockchain infrastructure and services providers. Figment provides enterprise-grade node and staking infrastructure, the Hubble Web 3 explorer, and developer tools while also actively participating in community & governance. Figment was founded in 2018 and is based in Toronto, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-01 Starburst

Boston, Massachusetts, United States

Starburst is the analytics engine that provides the most efficient analytics engine for data warehouse, data lake, or data mesh. The company unlocks the value of distributed data by making it fast and easy to access, no matter where it lives. Starburst queries data across any database, making it instantly actionable for data-driven organizations. It lowers the total cost of their infrastructure and analytics investments, prevents vendor lock-in, and uses the existing tools that work for their business. Starburst was founded in 2017 and is based in Boston, Massachusetts.

Buy -
Investor

Stripes

New York, New York, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2008
PE ASSETS 7.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Stripes is a private investment firm focused primarily on making minority investments in rapidly growing, private companies. Stripes look to commit $10 to $150 million of equity capital per transaction to support acquisitions, growth equity needs, and provide shareholder liquidity. Target companies generally have high margins and operate in large markets. Sectors of interest include branded consumer products, financial services, medical devices, and technology. Stripes was formed in 2008 and is based in New York, New York.


Deal Context for Investor #
Overall 41 of 49
Sector: Software 3 of 3
Type: Venture 20 of 22
State: Arizona 1 of 1
Country: United States 38 of 46
Year: 2021 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-29 Udemy

San Francisco, California, United States

Udemy is an online education learning marketplace where 10 million students are enrolled in 40,000 courses across 190 countries. Udemy was founded in 2010 and is based in San Francisco, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-02 Connecteam

New York, New York, United States

Connecteam is an all-in-one app providing HR tools, communications services, and daily operations management (e.g., scheduling, virtual time cards). Connecteam was founded in 2014 and is based in New York, New York.

Buy -
DESCRIPTION

Brighton Park is a growth capital firm focused on opportunities in the software, information services, and technology-enabled services sectors. Brighton Park was formed in 2019 and is headquartered in Greenwich, Connecticut.


Deal Context for Investor #
Overall 7 of 12
Sector: Software 2 of 2
Type: Venture 1 of 1
State: Arizona 1 of 1
Country: United States 7 of 11
Year: 2021 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-28 Xsolis

Nashville, Tennessee, United States

Xsolis is a healthcare technology firm harnessing artificial intelligence to solve operational and financial challenges in healthcare. Xsolis was founded in 2013 and is based in Nashville, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-25 HTEC

San Mateo, California, United States

HTEC is a global consulting, software engineering, and digital product development company. HTEC was founded in 2008 and is based in San Mateo, California.

Buy -