Private equity firm GTCR has invested $1.33B at a $4.5B enterprise valuation to help Tricentis continue its track record of innovation and growth. Tricentis will surpass $425M in annual recurring revenue in 2024 with a 27% YoY growth.
Tricentis has announced that GTCR, a leading private equity firm, has signed a definitive agreement to invest $1.33 billion in the company, valuing the enterprise at $4.5 billion and further fueling Tricentis for future growth and innovation. The agreement was approved by global software investor Insight Partners and Tricentis following a comprehensive review of strategic alternatives. Insight Partners and GTCR will work together with equal representation on the Board of Directors to support the strong and experienced Tricentis management team’s continued success in fueling the company’s further expansion.
Tricentis was founded in 2007 in Vienna, Austria, with Insight Partners taking majority ownership in 2017. Today, Tricentis is a U.S. corporation headquartered in Austin, Texas, with a total of 26 offices globally. Tricentis is projecting to finish 2024 with over $425 million in annual recurring revenue (ARR) and growth of approximately 27% YoY while driving a meaningful and increasing level of profitability. Tricentis currently works with over 60% of the companies in the Fortune 500.
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