Mitratech Receives Strategic Majority Investment from TA Associates
CEO Jason Parkman said the deal will help Mitratech in two main areas: acquisitions and global expansion.
September 16, 2015 at 05:26 AM
3 minute read
Mitratech has had a busy couple of months with mergers and acquisitions, first acquiring Bridgeway Software in July, then acquiring CaseTrack from Economic Analysis Group in August. September brings another change, but this time it's behind-the-scenes, as TA Associates, a leading global growth private equity firm, has agreed to make a strategic majority investment in the company.
TA Associates will take over for Vista Equity Partners. Since Vista's investment in 2011, Mitratech said that its client base has increased by 500 percent, and revenue has tripled. The company has increased investment in its software and services, completed three strategic acquisitions, and expanded into Europe during that time.
Additional details about the deal have not been disclosed. Since 1968, TA Associates has invested in more than 450 companies around the world, including more than 100 software companies, and has raised more than $18 billion in capital. Currently, Mitratech CEO Jason Parkman told Legaltech News, TA Associates has 26 software companies in its portfolio out of about 60 total investments.
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