Vista Equity Partners, a global investment firm, has made a $100 million strategic growth investment in BigTime Software Inc., a provider of cloud-based software for professional service firms. Existing BigTime investor, Wavecrest Growth Partners, will retain its stake in the company.

BigTime provides management tools to simplify time tracking, invoice and project bottlenecks. The firm delivers real-time insights to provide clarity across client organizations. The firm’s services are designed for consultants across accounting, engineering, architecture, IT services and delivered to over 2,300 professional services firms.

The investment will be used to expand product development and drive recruiting across BigTime’s Chicago and Phoenix offices. The investment comes from Vista’s Endeavor Fund.

“BigTime has been a fantastic investment for Wavecrest Growth Partners, and we are delighted to welcome Vista Equity Partners, who is exactly the partner that BigTime needs for its next stage of growth,” said Vaibhav Nalwaya, co-founder and managing partner of Wavecrest Growth Partners.

Raymond James served as financial advisor to BigTime and Morris, Manning & Martin LLP served as legal advisor. Spurrier Capital Partners served as financial advisor to Vista and Kirkland & Ellis LLP was legal advisor.