Thoma Bravo Makes Strategic Growth Investment in UserZoom

Thoma Bravo and Sunstone Partners Acquire UserTesting for $1.3B

January 12, 2023

Cloud & SaaS

Thoma Bravo and Sunstone Partners completed an all-cash acquisition of UserTesting, Inc. for $7.50 per share (approximately $1.3 billion), taking the company private. The buyers plan to combine UserTesting with UserZoom (which Thoma Bravo previously acquired) to create an end-to-end experience research and insights platform led by UserTesting CEO Andy MacMillan.

Thoma Bravo Makes Strategic Growth Investment in HubSync

May 5, 2025

Cloud & SaaS

Thoma Bravo has announced a strategic growth investment of more than $100 million in HubSync, a Franklin, Tennessee–based tax and accounting SaaS platform. The capital will be used to accelerate HubSync’s product roadmap, customer service, and overall growth as it scales within the CPA and accounting-firm market.

Thoma Bravo Makes Strategic Growth Investment in Applitools

May 5, 2021

Software

Thoma Bravo has completed a strategic growth investment in Applitools, the provider of AI-enabled visual test automation software. The Applitools founding team will retain a significant ownership stake as the company partners with Thoma Bravo to accelerate product innovation and scale growth operations globally.

Thoma Bravo Makes Strategic Growth Investment in BlueMatrix

December 14, 2023

Cloud & SaaS

Thoma Bravo has completed a strategic growth investment in BlueMatrix, a cloud-based content creation and distribution platform for investment research providers. The investment (debt financing provided by Golub Capital) will support BlueMatrix’s global growth and continued product innovation while founder and CEO Patricia Horotan remains in her leadership role with a significant ownership stake.

Thoma Bravo Makes Strategic Growth Investment in Venafi

December 10, 2020

Cybersecurity

Thoma Bravo has completed a strategic growth investment in Venafi, the inventor and market leader in machine identity management, valuing the company at $1.15 billion. The capital will be used to accelerate Venafi's product innovation and global growth while existing investors TCV and Foundation Capital remain shareholders.

Thoma Bravo Acquires Majority Stake in USU Product Business

October 1, 2024

Software

Thoma Bravo has acquired a majority stake in USU Product Business, investing alongside USU Software AG to accelerate product innovation and growth. USU Product — led by CEO Benjamin Strehl and employing over 600 people — will operate as an independent entity focused on IT Service Management, IT Asset Management, IT Operations Management and Knowledge Management; debt financing was provided by funds advised by Morgan Stanley Private Credit, clients of Guggenheim Investments, and HSBC Innovation Banking UK.