Varicent Has Agreed to Receive a Strategic Investment Led by Warburg Pincus

William Blair acted as financial advisor to Varicent, a portfolio company of Great Hill Partners and Spectrum Equity, in connection with its pending strategic investment led by Warburg Pincus, LLC, alongside existing investor Great Hill Partners, with participation from Spectrum Equity and company management. The transaction signed on July 4, 2024, and is expected to close in Q3 2024.

About the Companies

Varicent is an award-winning Software-as-a Service (SaaS) company that helps businesses fuel growth. Its suite of solutions supports a company's entire revenue journey to help drive predictable growth, from results-driven planning of territories and quotas to incentive compensation. With Varicent, companies worldwide can set smarter goals and territories to maximize revenue potential, create incentive strategies that motivate the right behaviors to achieve revenue goals, and leverage AI-driven insights to make better decisions and outdo previous performance.

Founded in 1998, Great Hill Partners is a private equity firm targeting investments of $100 million to $500 million in high-growth companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors. With offices in Boston and London, the firm has raised over $12 billion of commitments and invested in nearly 100 companies, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies' scale. Great Hill Partners has been recognized for its industry leadership, being ranked in the top of five of HEC Paris-Dow Jones' Mid-Market Buyout and Performance Ranking lists from 2021-2023.

Spectrum Equity is a leading growth equity firm providing capital and strategic support to innovative companies in the information economy. Since 1994, the firm has partnered with proven entrepreneurs and management teams to build long-term value in market-leading internet-enabled software and data services companies. Representative investments include Definitive Healthcare, Ease, GoodRx, Origami Risk, Payer Compass, and Verafin.

Warburg Pincus is a leading global growth investor. The firm has more than $81 billion in assets under management. The firm's active portfolio of more than 215 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. The firm has invested over $33 billion in technology companies since inception and is one of the most active growth investors in enterprise technology and cloud-based platforms, with notable investments including Avalara, Clearwater Analytics, CrowdStrike, Infoblox, Internet Brands, Modernizing Medicine, Net Documents, and WebPT. Since its founding in 1966, Warburg Pincus has invested more than $114 billion in over 1,000 companies globally across its private equity, real estate, and capital solutions strategies. The firm is based in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore.

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