H.I.G. Growth Partners has completed the sale of ProsperOps, an Austin-based provider of autonomous cloud cost optimization software, to Flexera, a portfolio company of Thoma Bravo.
ProsperOps offers a FinOps automation platform designed to help enterprises optimize cloud spend across Amazon Web Services, Google Cloud Platform, and Microsoft Azure. The company focuses on automating cloud commitment management and savings execution, aiming to shift finance, engineering, and procurement teams away from manual, recommendation-driven workflows toward automated optimization.
H.I.G. Growth invested in ProsperOps in December 2022 and said it partnered with management to scale the business and broaden the platform. During H.I.G. Growth’s ownership, ProsperOps grew annual recurring revenue more than six-fold and increased EBITDA more than nine-fold, according to the buyer and seller. Over the last three years, the company expanded from a single-product, single-cloud offering into a multi-product platform supporting all three major cloud providers, while broadening its addressable market and customer use cases.
ProsperOps said it now manages approximately $6 billion in annual cloud spend for customers and has generated more than $3 billion in lifetime savings. Financial terms of the transaction were not disclosed.
KEY QUOTES:
“ProsperOps was founded on the belief that many of the critical cloud cost optimization use cases, particularly rate optimization, could be delivered through AI-enabled management. As the market matures, customers are asking for more than point solutions; they want unified rate optimization, workload optimization, and cost visibility. With H.I.G.’s help, we significantly scaled the platform and organization, and we are now uniquely positioned to deliver the comprehensive FinOps platform that organizations have been asking for as we enter the next phase with Flexera.”
Chris Cochran, CEO and Co-Founder, ProsperOps
“Since our investment in ProsperOps, we have been proud to partner with Chris and the broader team to help build a clear leader in FinOps automation. The team’s focus on product innovation, disciplined execution, and customer outcomes has driven exceptional growth and platform expansion. We are proud of what the team has built and believe the Company is well-suited to continue its development within Flexera’s portfolio.”
Ross Hiatt, Managing Director and Head of H.I.G. Growth
“ProsperOps’ evolution over the past several years reflects the power of combining a world-class management team with a clear vision for product innovation. From expanding the platform across all major cloud providers to scaling the organization globally, the Company has consistently executed ahead of expectations. We are grateful for our partnership with Chris and the entire ProsperOps team and we are confident that they will continue to thrive as part of Flexera.”
Albert Koh, Managing Director, H.I.G. Growth
