SailPoint products and services are used to deliver and manage user access from any device to data and applications residing in the datacenter, on mobile devices, and in the cloud. The company’s product portfolio offers a set of integrated services including identity governance, provisioning, and access management. The company was founded in 2005 and is based in Austin, TX (www.sailpoint.com).
“We’d like to thank CEO Mark McClain, President Kevin Cunningham, and the entire team at SailPoint, who have been tremendous to work with during this process,” said Seth Boro, a managing partner at Thoma Bravo. “We are eager to partner with management and put this investment to work on new growth opportunities for the company.”
Thoma Bravo provides equity and strategic support to management teams building growing companies. The firm originated the concept of industry consolidation investing, which seeks to create value through the strategic use of acquisitions to accelerate business growth. Thoma Bravo currently manages approximately $7.5 billion of equity capital. The firm was founded in 1981 and has offices in Chicago and San Francisco (www.thomabravo.com).
“We believe this investment by Thoma Bravo marks the next phase of aggressive growth for our company and innovation for our customers,” said Mr. McClain. “We’ve secured an important investment from a partner who brings a wealth of experience growing market leaders in the enterprise software arena, and we’re excited to take the next step with our customers, partners and employees.”
Silicon Valley Bank provided financing for the investment. Goodwin Procter served as legal counsel for Thoma Bravo and Vinson & Elkins served as legal counsel for SailPoint in this transaction.
2014 PEPD • Private Equity’s Leading News Magazine • 9-9-14