Thoma Bravo and JMI Equity has made an investment in Condeco Software, a workspace scheduling technology business. Paul Statham along with other members of Condeco’s management team will remain significant shareholders.
Condeco helps companies find and reserve workspaces and meeting rooms, and providing workspace management and analytics services.
“We are so excited to be taking this next step in our growth journey and to be partnering with Thoma Bravo and JMI,” said Statham, Founder and CEO of Condeco. “As new ways of working have driven demand for innovative and flexible workspaces, Condeco is well-positioned to continue our global expansion and technological innovation. Our goal is to provide smart solutions to power the office of the future by making flexible working more efficient and offices more productive and collaborative. Thoma Bravo and JMI have an unparalleled track record of facilitating the growth of the software companies they partner with, and we are confident that their industry and operational expertise will help accelerate our momentum and take our business to the next level as we create the smart workplace of tomorrow.”
“The nature of ‘in the office’ has been altered forever, and employers need to provide employees with flexible options regarding how and where they work,” said A.J. Rohde, senior partner at Thoma Bravo. “Condeco helped create the category and has been the market leader for a very long time. We are so excited we get to begin this journey with Paul and his team to help employers provide these hybrid scheduling options more rapidly.”
Brian Hersman, general partner at JMI Equity, added, “We are looking forward to partnering with Paul and his team to support Condeco in driving sustained long-term growth and expanding their presence across industries as the global leader in workplace scheduling technology.”
Condeco was advised by Raymond James as financial advisor and Pinsent Masons LLP as legal counsel. Kirkland & Ellis LLP served as legal counsel to Thoma Bravo. Goodwin Procter LLP served as legal counsel to JMI Equity.