Investment Summary

Wavecrest Growth Partners, Vista Equity Partners and Level Equity Management Invest In BigTime Software

On May 30, 2019, growth capital firm Wavecrest Growth Partners, private equity firm Vista Equity Partners and private equity firm Level Equity Management invested in software company BigTime Software

Investment Highlights
  • This is Wavecrest Growth Partners’ 2nd, Vista Equity Partners’ 45th and Level Equity Management’s 7th transaction in the Software sector.
  • This is Wavecrest Growth Partners’ 3rd, Vista Equity Partners’ 99th and Level Equity Management’s 26th transaction in the United States.
  • This is Wavecrest Growth Partners’ 1st, Vista Equity Partners’ 7th and Level Equity Management’s 2nd transaction in Illinois.

Investment Summary
Date 2019-05-30
Target BigTime Software
Sector Software
Investor(s) Wavecrest Growth Partners
Vista Equity Partners
Level Equity Management
Deal Type Growth Capital
Advisor(s) Raymond James - Investment Banking (Financial)
Morris, Manning & Martin (Legal)

Target

BigTime Software

Chicago, Illinois, United States
BigTime Software develops practice management tools that help professional services firms track, manage, and invoice their time. BigTime's industry-specific solutions are designed to speak the language of consultants of all stripes, from engineering and architecture to IT services. BigTime Software was founded in 2002 and is based in Chicago, Illinois.

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Investor(S) 3

Investor

Wavecrest Growth Partners

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2016
Size Middle-Market
Type Sector Focused
DESCRIPTION

Wavecrest Growth Partners is a private equity firm that looks to acquire B2B software and technology companies with $5 to $25 million of revenue. The Firm seeks companies where the founder is at an inflection point in taking the business to the next level. Wavecrest Growth Partners was formed in 2016 and is headquartered in Boston, Massachusetts.

DEAL STATS #
Overall 4 of 13
Sector (Software) 2 of 5
Type (Growth Capital) 4 of 12
State (Illinois) 1 of 1
Country (United States) 3 of 8
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-04 Impel

Syracuse, New York, United States

Impel offers automotive dealers, OEMs, and online marketplaces the industry’s most advanced platform for digital automotive merchandising. SpinCar’s 360° WalkAround® technology builds trust between buyers and sellers by bringing the physical showroom experience to car shoppers wherever and whenever they want. Impel’s proprietary shopper behavioral data and VINtelligent Retargeting® solution enable dealers to deliver hyperpersonalized interactions across the entire car shopping journey. Impel was founded in 2011 and is based in Syracuse, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-15 EDITED

London, United Kingdom

EDITED is a Retail Decision Platform used by over 200 major brands and retailers to optimize their buying and merchandising decisions. Many brands and retailers have historically relied on guesswork and manual comparison shopping to make their product, design, supply chain, and pricing decisions. EDITED was founded in 2009 and is based in London, United Kingdom.

Buy -
Investor

Vista Equity Partners

Austin, Texas, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 100.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.
Entrance to Frost Bank Tower, Vista Equity's main office in Austin, Texas.

Vista Equity Partners is a mega-sized asset management firm focused on private equity, public equity, credit, and other strategies. The Firm's private equity group looks to invest in and acquire software and technology enabled services companies. Specific areas of interest include software, software-as-a-service (SaaS), technology-enabled business services, and technology-enabled information services. Vista can commit up to $700 million per transaction and will consider a variety transaction situations, including management/leveraged buyouts, growth or acquisition financings, recapitalizations or restructurings, spinouts, and take privates. Vista Equity Partners was formed in 2000 and is based in Austin, Texas.

DEAL STATS #
Overall 108 of 149
Sector (Software) 45 of 59
Type (Growth Capital) 18 of 31
State (Illinois) 7 of 7
Country (United States) 99 of 137
Year (2019) 5 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-01 Return Path

New York City, New York, United States

ReturnPath is a customer retention software and services company. The company's first product, ECOA (Email Change of Address) is a universal email management and change-of-address service that helps businesses and consumers optimize email communications. They are up and running and revenue producing, with over 40 million email addresses to date. The company sells both directly and through resellers such as DoubleClick.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-12 Critical Start

Plano, Texas, United States

Critical Start is a cybersecurity integrator that simplifies breach prevention by delivering the most effective managed detection and incident response services powered by the Zero Trust Analytics Platform (ZTAP) with the industry’s only Trusted Behavior Registry (TBR) and MOBILESOC. With 24x7x365 expert security analysts, and Cyber Research Unit (CRU), the company monitors, investigates, and remediates alerts swiftly and effectively, via contractual Service Level Agreements (SLAs) for Time to Detection (TTD) and Median Time to Resolution (MTTR), and 100% transparency into service. Critical Start was formed in 2012 and is based in Plano, Texas.

Buy -
Investor

Level Equity Management

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2009
PE ASSETS 1.7B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Level Equity Management LLC is a private investment firm focused on providing equity and structured capital to growth businesses. Sectors of interest include e-commerce, healthcare services, IT, internet software, and media. Level Equity Management was formed in 2009 and is based in New York City.

DEAL STATS #
Overall 30 of 60
Sector (Software) 7 of 19
Type (Growth Capital) 14 of 24
State (Illinois) 2 of 2
Country (United States) 26 of 50
Year (2019) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-22 Vendini

Toronto, Ontario, Canada

Vendini provides dependable and easy-to-use ticketing, marketing, and fundraising solutions to any-sized organization. Everything is in one place. Vendini's customers can access the system from anywhere at any time. Plus, it’s an all-inclusive system. Vendini is based in Toronto, Ontario.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-01 Planet DDS

Irvine, California, United States

Planet DDS is a provider of proprietary dental Software-as-a-Service and Revenue Cycle Management services. Planet DDS, through its flagship product, Denticon, provides cloud-based dental practice management software. Planet DDS has been dedicated to providing individual dentists and multi-location dental groups with the software necessary to increase efficiencies and grow their practices while reducing IT spend and enhancing security. Planet DDS was founded in 2003 and is based in Irvine, California.

Buy -
Mergr

Product

Company

Legal