Private equity firm Thoma Bravo has closed its majority investment in SailPoint, a specialist in identity and access management (IAM) solutions.
The agreement was announced on 12 August. Financial terms have not been disclosed.
“We’d like to thank Mark, Kevin and the entire team at SailPoint, who have been tremendous to work with during this process,” says 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,” says 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.”
Goodwin Procter served as legal counsel for Thoma Bravo and Vinson & Elkins served as legal counsel for SailPoint in this transaction. Silicon Valley Bank provided financing for the investment.
