Perforce Software Receives Significant Equity Investment From Francisco Partners

By Dan Anderson ● July 11, 2019
  • Market-leading provider of enterprise-scale software solutions Perforce Software announced it received a significant equity investment from Francisco Partners

Perforce Software — a market-leading provider of enterprise-scale software solutions to technology developers and development operations (DevOps) teams requiring productivity, visibility, and scale during all phases of the development lifecycle — announced it has closed significant new equity investment from private equity fund Francisco Partners.

Francisco Partners is joining Clearlake Capital Group, L.P., which also invested in Perforce in late 2017. Perforce will continue being led by CEO Mark Ties along with the current management team.

“With this investment from Francisco Partners, Perforce has gained additional resources to continue our proven buy-and-build strategy and further support our strong relationships with our customers,” said Perforce CEO Mark Ties. “We are excited to continue to expand to new geographies and product adjacencies, becoming the vendor of choice for large, global enterprises looking to scale efficiently and effectively. Perforce is positioned to continue to gain market share as it continues to provide best-in-class solutions to its enterprise customers.”

Clearlake and Francisco Partners both possess deep infrastructure software experience and will leverage collective knowledge and resources to help expand Perforce’s market share and continue to drive its growth strategy. And Perforce has built a broad portfolio of products within DevOps spanning the entire software development lifecycle.

“We are very impressed with Perforce’s track record of accretive acquisitions and successful integrations, simultaneously entering new product adjacencies while continuously improving its go to market strategy to win new customers. The Company has grown significantly over the past few years and has established itself as a leader in innovation, functionality, and scalability for DevOps,” added Brian Decker — a partner at Francisco Partners.

Perforce has expanded its offering from version control software to agile management, application management and components, code management and collaboration, and automated testing. And as a leader in the DevOps industry, Perforce provides a suite of solutions that balance the security, compliance, and control needs of leading enterprises while providing developers the freedom to innovate at a global scale.

“As companies across all end markets increasingly transition to incorporate DevOps best practices, Perforce is well-positioned to serve customer needs across the development lifecycle,” explained Francisco Partners principal Evan Daar.

Some of Perforce’s customers include NVIDIA, Pixar, Scania, Ubisoft, and VMware. And enterprises across the globe rely on its agile planning and ALM tools, automated mobile and web testing, developer collaboration, static code analysis, version control, and repository management solutions as the foundation for successful DevOps at scale.

“Since our investment, we have collaborated with Mark and his team to implement our O.P.S.® framework to invest and sustainably grow the business. The team has further demonstrated their ability to accelerate organic and inorganic growth, and we are confident that with the combined support from Clearlake and Francisco Partners, Perforce will reach new heights. We are excited to partner with Francisco Partners as Perforce embarks on this next stage of growth,” wrote Clearlake VP Paul Huber and partner Prashant Mehrotra.