HIG Growth Partners (HIG Growth), the dedicated growth capital investment affiliate of HIG Capital, has sold its portfolio company ProsperOps, Inc (ProsperOps), a provider of autonomous cloud cost optimisation software, to Flexera, a portfolio company of Thoma Bravo.
Headquartered in Austin, Texas, ProsperOps is a FinOps automation platform for cloud cost optimisation across Amazon Web Services (AWS), Google Cloud Platform, and Microsoft Azure. The company enables enterprises to manage cloud commitments autonomously, helping finance, engineering, and procurement teams move from manual, recommendation-based workflows to automated savings execution.
HIG Growth Partners invested in ProsperOps in December 2022, working with management to support the company’s transformation and to scale its operations. During HIG Growth’s ownership, ProsperOps grew annual recurring revenue more than six-fold and increased EBITDA by more than nine-fold.
Over the last three years, ProsperOps has expanded from a single-product, single-cloud solution into a multi-product platform supporting all three major cloud service providers, while broadening its addressable market and customer value proposition. The company now manages approximately $6bn in annual cloud spend for its customers.
