True Wind Capital, a San Francisco-based private equity firm focused on technology companies, has made a strategic growth investment in W Energy Software, a provider of cloud-based accounting and ERP software.

W Energy provides cloud-based accounting and ERP software and delivers high levels of speed, ease and accuracy to enterprise and mid-market customers in the energy and commodities value chain. The firm’s SaaS delivers efficiencies and insights to its customer base.

The investment will accelerate the firm’s expansion into new markets and position it to capitalize on the growing energy transition. Additionally, Mark Hill, W Energy’s CRO has been appointed CEO and Pete Waldroop, the firm’s founder and CEO, will serve as chairman of the board.

“As energy and commodities businesses navigate a highly dynamic operating environment, they are relying more than ever on technology partners who can streamline their operations and create efficiencies at scale,” stated Sean Giese, True Wind partner. “W Energy Software’s unique offerings, management team, and execution have positioned it well to assume a leading role in the overall energy transition movement. We are excited to support the business through this next chapter, both organically and through strategic M&A initiatives.”

Orrick, Herrington & Sutcliffe LLP served as legal advisor to True Wind and Baird served as its financial advisor. Cooley LLP served as W Energy Software’s legal advisor and Aeris Partners served as its financial advisor.