Francisco Partners, a private investment firm focused on technology sector businesses, has made a strategic growth investment in Accela, a provider of cloud solutions for state and local government departments and agencies.
Financial terms of the deal, which sees Berkshire Partners remain a significant investor with an equal equity holding in the company, have not been disclosed.
Accela offers agencies a unified suite of cloud solutions and a single cloud-based platform to to deliver services. The company’s Civic Platform powers major state and local governments, including: Dallas, Texas; Seattle, Washington; the State of California; Abu Dhabi; as well as other cities and counties across Florida.
Baird served as financial advisor to Accela and Berkshire Partners, and Shea & Company served as financial advisor to Francisco Partners.