thoma-bravo
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PROS Spent 40 Years Teaching Airlines What Every Seat Is Worth - Then Split the Company in Two
The Houston software veteran began with an overbooking algorithm, grew into a $330 million pricing platform and survived both a cloud rebuild and aviation's worst shock. Its new owner has now made a stark bet: the airline brain is more valuable on its own.
Who Owns The Software That Runs Your Portfolio
Planview sits inside a private-equity portfolio. Broadcom's Clarity sits inside a public company's earnings call. For anyone buying project portfolio software, that difference in ownership is the part of the pitch deck nobody reads out loud.
Meet the Chicago Firm Quietly Buying the Software That Runs Your Company
Thoma Bravo has spent two decades turning enterprise software into private equity's most repeatable playbook - roughly $180 billion in assets, more than 580 companies acquired, and a cybersecurity portfolio most governments would envy.
The Software That Runs the Companies That Run Your IT
Most people have never heard of ConnectWise. But if a small business somewhere fixed your laptop last week, the outsourced IT shop that did it was probably running on ConnectWise software.
The Feedback Economy Just Lost $5 Billion
Formstack quietly rebranded to Intellistack. Medallia handed its owners a $5 billion loss. The business of capturing what customers and employees tell you is being repriced - and AI is doing the repricing.
USU
For nearly five decades, a quiet software company near Stuttgart has been helping big organizations tame the IT sprawl no one else wants to touch - and it just landed a Thoma Bravo backer to do more of it.
Apryse Bought a Game Studio That Learned to Print Paperwork
In April 2021 the document-tech firm then called PDFTron bought Windward Studios, a Colorado company that started making a strategy game in 1996 and ended up generating 10 million business documents a month. Here is how a pivot became an acquisition.
Conga
Align pricing, quoting, and contracting with shared, AI-driven intelligence so teams stay aligned and move from decision to execution with clarity and speed.
Bottomline
Transforming the Way Businesses Pay and Get Paid
Apryse
The company formerly known as PDFTron sells the invisible machinery behind millions of documents - SDKs that let any app create, view, edit, sign, and mine PDFs without ever touching Adobe.
Proofpoint
Proofpoint is a cybersecurity and compliance company that protects organizations against the threats that target people - email attacks, data loss, and insider risk. Founded in 2002, it became the first SaaS-based cybersecurity vendor to cross $1B in annual revenue, was taken private by Thoma Bravo for $12.3B in 2021, and today runs a 'human-centric' security platform spanning email defense, data security, and identity threat protection used by a majority of the Fortune 100.
Auctane
Auctane is the Austin-based software company behind a family of shipping and mailing brands - ShipStation, Stamps.com, ShippingEasy, ShipEngine, ShipWorks, Endicia, Metapack, GlobalPost and Packlink - that help merchants of every size print labels, compare carrier rates, automate order fulfillment and track parcels worldwide. Formerly known as Stamps.com, it rebranded to Auctane in 2021 under Thoma Bravo ownership, and in June 2026 merged with freight broker WWEX Group to form ShipStation Global, a combined logistics platform serving more than 3 million customers and moving over 3 billion shipments a year.
Hyland
Hyland is a Westlake, Ohio software company that helps large organizations capture, manage, and act on their unstructured content - the contracts, claims, patient charts, and forms that pile up in every enterprise. Built around its flagship OnBase platform and bolstered by acquisitions like Alfresco and Nuxeo, Hyland has spent three decades turning document chaos into automated workflows. Today it is repositioning around the Content Innovation Cloud, layering AI agents and intelligent document processing on top of the content services its 4,000-ish employees have sold to healthcare systems, banks, insurers, and governments worldwide.
Albert Ko
Albert Ko is the CEO of Auctane, the Austin-based shipping software powerhouse behind ShipStation, Stamps.com, ShipEngine, and Metapack. A Korean immigrant who arrived in Los Angeles speaking Korean and Farsi but no English, Ko climbed from McKinsey consultant to Yale/Harvard-educated operator who grew Zelle into the largest peer-to-peer payments network by dollar volume — then took the helm at Auctane in June 2023 to bring operational discipline to one of the most consequential companies in global e-commerce logistics.
Frank Calderoni
Frank Calderoni is a tech-industry lifer who spent a decade as Cisco's CFO, then jumped into the CEO seat at Anaplan in 2017, taking the connected-planning company through its 2018 IPO and a $10.7B sale to Thoma Bravo in 2022. He briefly ran Velocity Global, sits on Adobe's board as Lead Director, and wrote 'Upstanding,' a book arguing that company character is a competitive moat.
Jitesh Ghai
Jitesh S. Ghai is the President and CEO of Hyland, the Thoma Bravo-owned content services and intelligent automation company based in Westlake, Ohio. A University of Waterloo electrical engineer who began his career building hardware, Ghai spent 14 years at Informatica reshaping it into a cloud and AI leader before stepping into Hyland's top job in May 2024 to push the firm deeper into agentic AI and unstructured content.
Brendan O'Connor
Brendan O'Connor co-founded AppOmni in 2018 after a decade as Salesforce's Chief Security Officer and a stint as Security CTO at ServiceNow. Frustrated by the lack of proper tooling to secure enterprise SaaS environments, he built the solution he wished he'd had. AppOmni pioneered the SaaS Security Posture Management (SSPM) category, raised over $202 million in funding, protects more than 100 million SaaS user accounts, and counts 25% of the Fortune 100 among its customers. O'Connor now serves as Chief Strategy Officer and Co-Founder.
Tre Sayle
Robert 'Tre' Sayle is a Partner at Thoma Bravo, one of the world's largest software-focused private equity firms, where he has spent nearly two decades building the Growth platform - a minority equity investing practice targeting breakout software companies. He orchestrated roughly 22 deals worth ~$50 billion in transaction value, led the $1B Thoma Bravo Advantage SPAC as CEO through its $11.1B merger with IronSource, and was named one of GrowthCap's Top 25 Software Investors of 2021. A Harvard economics graduate who started his career in tech investment banking at Hambrecht & Quist and JPMorgan, Sayle is known for his patience, his preference for informal first meetings over stiff boardrooms, and a global outlook that includes aggressive investment in Israeli cybersecurity.