Investment Summary

Thoma Bravo Invests In Pendo

On November 11, 2021, private equity firm Thoma Bravo invested in software company Pendo

Investment Highlights
  • This is Thoma Bravo’s 53rd transaction in the Software sector.
  • This is Thoma Bravo’s 102nd transaction in the United States.
  • This is Thoma Bravo’s 1st transaction in North Carolina.

Investment Summary
Date 2021-11-11
Target Pendo
Sector Software
Investor(s) Thoma Bravo
Deal Type Growth Capital

Target

Pendo

Raleigh, North Carolina, United States
Pendo.io is a web-based product experience platform using powerful analytics and guidance platform designed to help companies understand and influence how users interact with their software applications. The company's customers include leading software companies and digital enterprises, including Verizon, RE/MAX, LabCorp, OpenTable, Okta, Salesforce, and Zendesk. Pendo was founded in 2013 and is based in Raleigh, North Carolina.

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Investor(S) 1

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 STATS #
Overall 113 of 138
Sector (Software) 53 of 59
Type (Growth Capital) 15 of 17
State (North Carolina) 1 of 2
Country (United States) 102 of 119
Year (2021) 15 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-02 T2 Systems

Indianapolis, Indiana, United States

T2 Systems is a provider of unified SaaS (Software as a Service) parking management solutions. T2 Systems's comprehensive portfolio of services includes solutions that help organizations manage parking permits, citations, gated parking facilities, and special events. T2 Systems was established in 1994 and is based in Indianapolis, Indiana.

Sell $356M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-16 Riverbed

San Francisco, California, United States

Riverbed is a provider of software for mobile computing applications services. Riverbed delivers application performance for the globally connected enterprise. It helps clients in implementing strategic initiatives such as virtualization, consolidation, cloud computing, and disaster recovery. Riverbed was founded in 2002 and is based in San Francisco, California.

Sell -
Mergr

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