Tech-focused PE firm Vista Equity Partners in December acquired Gainsight, a pioneer in customer success software, in a deal that values the venture capital-backed startup at a reported $1.1 billion after building a years-long relationship with CEO Nick Mehta. Gainsight, which develops software that allows companies to view and analyze customer data from a wide variety of sources including customer relationship management programs, was contemplating an initial public offering prior to the deal with Vista. Customer success is considered a burgeoning and important category for businesses. The startup had raised more than $150 million in venture capital from firms including Battery Ventures, Bain Capital Ventures, Bessemer Venture Partners, Insight Partners, Lightspeed Venture Partners and Summit Partners Venture Capital.
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