Investment reaffirms Condeco's status as the leading global
workplace scheduling solution
LONDON, Aug. 3, 2021 /PRNewswire/ -- Condeco Software
("Condeco"), the global leader in workspace scheduling technology,
today announced a strategic growth investment from Thoma Bravo and
JMI Equity. The investment is expected to accelerate Condeco's
growth globally and drive increased innovation within Condeco's
workplace scheduling technology platform. Paul Statham along with other members of
Condeco's management team will remain significant shareholders.
Founded by CEO Paul Statham in
2005, Condeco serves over 2,000 leading companies, providing
transformational technology to improve employee experiences and
manage workspaces, allowing companies to quickly adapt to the
ever-changing office environment. Headquartered in London with offices around the world, Condeco
combines its world-leading technology with its team's unrivaled
experience, helping millions easily find and reserve workspaces and
meeting rooms, and providing workspace management and analytics
solutions. Thoma Bravo and JMI intend to leverage their deep
expertise and prior experience in workplace management software to
help Condeco expand its customer base and accelerate growth and
innovation.
"We are so excited to be taking this next step in our growth
journey and to be partnering with Thoma Bravo and JMI," said
Paul Statham, Founder and CEO of
Condeco. "As new ways of working have driven demand for innovative
and flexible workspaces, Condeco is well-positioned to continue our
global expansion and technological innovation. Our goal is to
provide smart solutions to power the office of the future by making
flexible working more efficient and offices more productive and
collaborative. Thoma Bravo and JMI have an unparalleled track
record of facilitating the growth of the software companies they
partner with, and we are confident that their industry and
operational expertise will help accelerate our momentum and take
our business to the next level as we create the smart workplace of
tomorrow."
"The nature of 'in the office' has been altered forever, and
employers need to provide employees with flexible options regarding
how and where they work," said A.J. Rohde, Senior Partner at Thoma
Bravo. "Condeco helped create the category and has been the market
leader for a very long time. We are so excited we get to begin this
journey with Paul and his team to help employers provide these
hybrid scheduling options more rapidly."
Brian Hersman, General Partner at
JMI Equity, added, "We are looking forward to partnering with Paul
and his team to support Condeco in driving sustained long-term
growth and expanding their presence across industries as the global
leader in workplace scheduling technology."
Condeco will continue to operate as an independent business
focused on penetrating the significant market opportunity in modern
workplace scheduling.
Condeco was advised by Raymond
James as financial advisor and Pinsent Masons LLP as legal
counsel. Kirkland & Ellis LLP served as legal counsel to Thoma
Bravo. Goodwin Procter LLP served as legal counsel to JMI
Equity.
About Condeco
Condeco are a global leader in workspace scheduling software.
Our solutions help create better future outcomes for businesses and
their people. We do this by giving employees control over the
flexibility to work from anywhere - whether they choose to
collaborate at the office or to focus on work remotely. We are
trusted by over 2000 of the world's largest businesses to enable
their future at work.
About Thoma Bravo
Thoma Bravo is one of the largest private equity firms in the
world, with more than $78 billion in
assets under management as of March 31,
2021. The firm invests in growth-oriented, innovative
companies operating in the software and technology sectors.
Leveraging the firm's deep sector expertise and proven strategic
and operational capabilities, Thoma Bravo collaborates with its
portfolio companies to implement operating best practices, drive
growth initiatives and make accretive acquisitions intended to
accelerate revenue and earnings. Over the past 20 years, the firm
has acquired more than 300 companies representing over $85 billion in enterprise value. The firm has
offices in Chicago, Miami and San
Francisco. For more information, visit thomabravo.com.
About JMI
JMI Equity is a growth equity firm focused on investing in
leading software companies. Founded in 1992, JMI has invested in
over 155 businesses in its target markets, successfully completed
over 105 exits, and raised more than $6
billion of committed capital. JMI partners with exceptional
management teams to help build their companies into industry
leaders. For more information, visit www.jmi.com.
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