SAN FRANCISCO & AUSTIN, Texas--(BUSINESS WIRE)--Thoma Bravo, LLC, a leading technology-focused private equity investment firm, announced today the closing of its majority investment in SailPoint, the leader in identity and access management (IAM) solutions. The agreement was announced on August 12. Financial terms were not disclosed.
“We’d like to thank Mark, Kevin 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.”
“We believe this investment by Thoma Bravo marks the next phase of aggressive growth for our company and innovation for our customers,” said Mark McClain, founder and CEO of SailPoint. “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.”
Founded in 2005, SailPoint revolutionized the IAM market with its risk-based approach to identity management. Today, the company has hundreds of global organizations as customers benefitting from its innovative solutions, IdentityIQ and IdentityNow. The company recently reported record operating profits and is the fastest growing IAM company in North America, according to the latest Deloitte Technology Fast 500.
Goodwin Procter LLP served as legal counsel for Thoma Bravo and Vinson & Elkins LLP served as legal counsel for SailPoint in this transaction. Silicon Valley Bank provided financing for the investment.
As the fastest-growing, independent identity and access management (IAM) provider, SailPoint helps hundreds of organizations securely and effectively 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 innovative product portfolio offers customers an integrated set of core services including identity governance, provisioning, and access management delivered on-premises or from the cloud (IAM-as-a-service). For more information about SailPoint, please visit www.sailpoint.com.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity investment firm building on a 30+ year history of providing equity and strategic support to experienced management teams and growing companies. The firm seeks to create value by collaborating with company management to improve business operations and provide capital to support growth initiatives. Thoma Bravo invests with a particular focus on application and infrastructure software and technology enabled services. The firm currently manages a series of private equity funds representing more than $7.5 billion of equity commitments. For more information, visit www.thomabravo.com.