Dallas-based financial software provider Trintech has secured an undisclosed amount of funding. The investors were Vista Equity Partners and Spectrum Equity.
Dallas, TX – September 02, 2015
Trintech, the leading global provider of integrated Record-to-Report software solutions for the office of finance, today announced that it has agreed to receive an investment from Vista Equity Partners (“Vista”). The investment will enable Trintech to expand its customer base and further accelerate its strong bookings momentum in the growing market for financial management applications. As part of the transaction, Trintech’s existing investor Spectrum Equity (“Spectrum”) will make a substantial minority investment alongside Vista. Additional terms of the deal were not disclosed.
“We are excited to join Vista’s family of elite software and technology-enabled businesses,” said Paul Byrne, Chief Executive Officer at Trintech. “Vista has a proven track record of partnering with management teams to build operational excellence and accelerate growth. Their guidance and expertise will help drive maximum long-term value for our customers, employees and shareholders.”
Trintech provides cloud-based solutions that automate and control the financial close accounting process within corporations, often referred to as the “last mile of finance.” Trintech serves more than 900 customers in 100 countries across a wide variety of industries that include retail, travel and hospitality, high-tech, financial services, pharmaceutical, energy, telecommunications and manufacturing. Trintech currently serves more than 35 percent of the Fortune 100, comprising over 200,000 users and more than one billion transactions in the cloud annually, making it the leading global Record-to-Report software solutions provider.
“Thanks to its strong management team and differentiated technology, Trintech is already well established as the clear leader in a large and growing market,” said Rob Rogers, Principal at Vista Equity Partners. “We are excited to partner with Spectrum and Trintech’s leadership team to further strengthen and expand the company’s existing solutions while also pursuing new growth opportunities.”
Trintech recently announced 140% bookings growth in the first half of its fiscal year, marking eight successive quarters of continued growth.
“With the emergence of Cadency® as the leading fully integrated R2R solution, Trintech has achieved record bookings growth over the past two years,” said Adam Margolin, Principal at Spectrum. “We believe that Trintech can continue to lead the market innovatively, and we are confident the company’s future will be even more promising.”
Trintech is the leading provider of cloud-based financial software solutions for the Record-to-Report process. Over 900 clients in 100 countries – including half of the Fortune 50 and the FTSE 100 – rely on our solutions to optimize resources, reduce costs, manage risk and monitor activities across the entire finance organization worldwide. Trintech’s Cadency® software manages all aspects of the financial close – from automating and managing balance sheet reconciliation, journal entries, to governance, risk and compliance, and financial reporting. ReconNET™ streamlines daily operational reconciliations such as bank and credit card transactions. Trintech’s has offices located across the US, UK, Australia, France, Ireland, the Netherlands and the Nordics, with partners in South Africa, Latin America and across the Asia Pacific region. www.trintech.com.
About Vista Equity Partners
Vista Equity Partners, a U.S.-based private equity firm with offices in Austin, Chicago and San Francisco, with more than $14 billion in cumulative capital commitments, currently invests in software, data and technology-based organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For more information, please visit www.vistaequitypartners.com.
About Spectrum Equity
Founded in 1994 with offices in Boston and San Francisco, Spectrum is a leading growth equity firm that provides capital and strategic support to its portfolio companies. Spectrum has invested in over 120 companies in the last 20 years – representative investments include Ancestry.com, BATS, GrubHub, Lynda.com, Passport Health, RiskMetrics Group, Seisint, SurveyMonkey, Verafin and World-Check. For more information, please visit www.spectrumequity.com.