SaaS Application Management, Security Funding: Vista Equity Invests in BetterCloud – ChannelE2E: Technology News for MSPs and Channel Partners


private equity company Vista Equity Partners has invested BetterCloud, a cloud-based management platform for SaaS applications. Financial terms of the investment — such as a dollar number and company valuation — were not disclosed.

BetterCloud’s existing investors — including Accel, Bain Capital Ventures, Warburg Pincus, and others — will remain minority shareholders in the company.

BetterCloud was founded in 2011 and is based in New York. The company has 375 employees listed on LinkedIn. BetterCloud’s cloud platform is designed to provide insight into applications, user lifecycle management and data protection, the company says.

Vista Equity Partners’ investment comes as thousands of MSPs and MSSPs seek to discover and block consumer SaaS applications. Get on the trend, Vista Equity rival Thoma Bravo recently invested in AppOmni, a SaaS security management platform. In addition, upstarts such as Augmentt and SaaS Alerts design their security tools for SaaS applications specifically for MSPs.

Why Vista Equity Invested in BetterCloud: Executive Perspectives

David Politis, CEO, BetterCloud

Further describing the Vista equity investment, BetterCloud CEO David Politis said:

“From day one, we have been focused on enabling companies to adopt best-in-class SaaS applications in a secure and scalable manner. This investment is an important milestone on that journey and one that will allow us to continue to define and lead the SaaS management category now and into the future. Vista is the perfect partner for BetterCloud because of their vast experience and track record of investing in the best SaaS companies in the world and their strong understanding of the value behind SaaS management. Together, we will continue to deliver on the promise of zero-touch SaaS management and empower IT in organizations around the world.”

Patrick Severson, co-head of Vista’s endowment fund and senior managing director, added:

“As the suite of enterprise SaaS applications continues to grow and become more integrated into operations, enterprise application management has become mission-critical. David and the BetterCloud team established the market-leading SaaS management platform, empowered employees and created a more secure SaaS ecosystem for all of their customers. We are thrilled to be working with them and look forward to a bright future together.”

JP Morgan Securities LLC acted as financial advisor and Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP acted as legal counsel to BetterCloud. Kirkland & Ellis LLP acted as legal counsel for Vista.

Vista Equity Partners: Background Information on Private Equity Investors

Vista Equity Partners is a well known private equity firm in and around the MSP software market. The company is there Sale of Datto to Kaseya; the $6.2 billion deal is expected to close in summer 2022.

Vista Equity’s other investments included:

  • Desktop as a Service (DaaS) software provider Citrix systems;
  • Network security company Infoblox;
  • Apple device management software company jam;
  • IT monitoring software company Logic Monitor;
  • Identity and access management (IAM) company. Ring; and
  • CRM software company for small business Pipedrive,

Vista had more than $93 billion in assets under management as of December 31, 2021. The firm invests exclusively in enterprise software, data and technology enabled organizations through private equity, permanent equity, credit and public equity strategies.

More insights from Joe Panettieri.

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