Thoma Bravo Announces Completion of Strategic Growth Investment in Applitools
Thursday, May 13, 2021
SAN FRANCISCO and SAN MATEO, Calif., May 5, 2021 /PRNewswire/ -- Thoma Bravo, a leading private equity firm focused on the software and technology-enabled services sector, today announced the completion of its strategic growth investment in Applitools, the leading provider of visual test automation software.
"We are excited to begin the next phase of our journey through our partnership with Thoma Bravo," said Gil Sever, CEO of Applitools. "We see tremendous opportunity to harness the current environment and demand for automation in digital solutions. Applitools has one of the most unique and innovative offerings in the market and bringing that together with Thoma Bravo's resources and deep sector expertise will position the company for significant growth."
"As enterprises continue to shift toward all things digital, Applitools' best-in-class AI-enabled solutions are more critical - and more relevant - than ever," said Carl Press, a Principal at Thoma Bravo. "We are thrilled to partner with Gil and his team as we turbocharge Applitools' growth and build on its already impressive position as the leader in UX test automation."
"Applitools' innovative AI-based solutions enable developer, engineering and product teams to ensure seamless user experiences across the app spectrum," said Annie Wei, a Vice President at Thoma Bravo. "We couldn't be more excited to complete our investment in Applitools as we work together to accelerate the company's growth trajectory and market leadership."
Baird served as financial advisor to Thoma Bravo and Kirkland & Ellis served as legal counsel. William Blair served as financial advisor to Applitools and Meitar Liquornik Geva Leshem Tal and Sidley Austin served as legal counsel.
About Thoma Bravo
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With more than $76 billion in assets under management as of December 31, 2020, Thoma Bravo partners with a company's management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. The firm has offices in Chicago, Miami and San Francisco. For more information, visit thomabravo.com.
About Applitools
Applitools delivers a Next Generation Test Automation Platform through Visual AI and Ultrafast Test Cloud. Applitools enables engineering teams to release high quality web and mobile apps at incredible speed and at a reduced cost.
Applitools Visual AI modernizes important test automation use cases - Functional Testing, Visual Testing, Web and Mobile UI/UX Testing, Cross Browser Testing, Responsive Web Design Testing, Cross Device Testing, PDF Testing, Accessibility Testing and Compliance Testing - to transform the way organizations deliver innovation at the speed of CI/CD at a significantly lower Total Cost of Ownership (TCO).
Hundreds of companies from verticals such as Tech, Banking, Insurance, Retail, Pharma, and Publishing - including 50 of the Fortune 100 - use Applitools to deliver the best possible digital experiences to millions of customers on any device and browser, and across every screen size and operating system.
Applitools is headquartered in San Mateo, California, with offices in Tel Aviv, Israel and Melbourne, Australia. For more information, please visit applitools.com.
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SOURCE Thoma Bravo
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