Quick Base to Receive Majority Investment from Vista Equity Partners
Partnership and Investment Will Spur Continued Acceleration of Growth
Jan 14, 2019, 09:00 ET
CAMBRIDGE, Mass., Jan. 14, 2019 /PRNewswire/ -- Quick Base, the leading SaaS platform for building powerful, integrated, customized business applications, today announced it has signed a definitive agreement to receive a majority investment by Vista Equity Partners ("Vista"), a leading investment firm focused on software, data and technology-enabled businesses. Quick Base's current investor, Welsh, Carson, Anderson & Stowe ("WCAS"), will retain a significant investment in the company.
Quick Base is a market leader in the customized application building space, with more than 5,400 customers, serving businesses of all sizes across every industry. Quick Base delivers a significant return on investment for customers, empowering users with the ability to create their own solutions that can streamline processes, track and analyze real-time data and create efficiencies in their own work and their company's operations.
"At Quick Base, we are passionately pursuing a near limitless opportunity to disrupt and democratize IT and enterprise software," said Rick Willett, CEO of Quick Base. "Every day we're empowering people closest to the work to customize, automate and enhance their processes. Vista shares our vision and our passion, and we could not be more excited to partner with their team to further accelerate our growth."
Business professionals, across all functions, use Quick Base to easily and quickly build business applications with no prior database, programming or development skills required. Through a highly secure platform, Quick Base easily integrates with existing systems and has the power to also be leveraged by sophisticated software developers.
"At its core, software is a tool that turns good ideas into scalable and actionable solutions," said Robert F. Smith, Founder, Chairman and CEO of Vista Equity Partners. "By empowering every employee, no matter his or her technical background, to build applications that suit their business needs, Quick Base's platform helps build a stronger workforce, and smarter workplaces."
"We have taken great pride in helping Quick Base reach its current position at the top of the high productivity app development space," said Mike Donovan, General Partner with WCAS. "We welcome Vista as a majority investor and we look forward to the experience and expertise that they bring to this partnership."
Rothschild & Co served as the financial advisor to Quick Base, and Kirkland & Ellis served as legal advisor. Evercore served as the financial advisor to Vista and Greenberg Traurig served as legal advisor.
To learn more about this partnership, please visit: https://www.quickbase.com/about-us/faqs
About Quick Base
Quick Base provides a cloud-based platform that empowers problem solvers to quickly turn ideas for better ways to work into apps that make their organizations more efficient. For 20 years, people of all technical and non-technical backgrounds have been using the Quick Base platform to create solutions that streamline processes, capture real-time data, and improve company operations while working in concert with existing IT systems. Headquartered in Cambridge, MA, Quick Base has thousands of customers spanning all industries and company sizes. For more information, please visit: www.QuickBase.com
About Vista Equity Partners
Vista Equity Partners is a U.S.-based investment firm with offices in Austin, Chicago, New York City, Oakland, and San Francisco with more than $46 billion in cumulative capital commitments. Vista exclusively invests in software, data, and technology-enabled organizations led by world-class management teams. As a value-added investor with a long-term perspective, Vista contributes professional expertise and multi-level support towards companies to realize their full potential. Vista's investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity. For more information, please visit www.vistaequitypartners.com.
About Welsh, Carson, Anderson & Stowe
WCAS focuses its investment activity in two target industries: technology and healthcare. Since its founding in 1979, WCAS has organized 17 limited partnerships with total capital of over $26 billion. WCAS has a current portfolio of approximately twenty companies. WCAS's strategy is to partner with outstanding management teams and build value for its investors through a combination of operational improvements, internal growth initiatives and strategic acquisitions. For more information, please visit http://www.wcas.com/.
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SOURCE Quick Base