Thoma Bravo's Behind the Deal
How SailPoint Keeps Business Identities Safe
Mar 23, 2023
SailPoint Co-Founder and CEO, Mark McClain, discusses forging a relationship with Thoma Bravo that led to a successful IPO and acquisition, highlighting the importance of cultural fit and price competition. They also discuss the journey of CellPoint Technologies in the Enterprise Identity Management space and the importance of identity management in large organizations. The podcast explores their technology's ability to prevent incidents like rogue traders exploiting access privileges. Additionally, they discuss receiving interest from big tech companies, the decision to pursue a growth equity round, and impressing a high-growth innovator in the identity security field. The episode concludes with the company's transition to a cloud-first model, challenges faced, and the possibility of going public again.
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Quick takeaways
- The partnership between SailPoint and Thoma Bravo was formed based on a shared vision and cultural fit, with Thoma Bravo's deep understanding of the security market and dedication to helping innovative companies being key factors.
- SailPoint's technology for managing employee identities is critical in preventing breaches, as highlighted by the example of a large French bank where a rogue trader exploited unrevoked access privileges, resulting in billions of losses.
Deep dives
The Power of Partnership and Cultural Fit
Mark McLean, the CEO of SalePoint, discusses how the partnership with Toma Bravo was formed based on a shared vision and cultural fit. Toma Bravo stood out as a potential investor due to their deep understanding of the security market and their dedication to helping innovative companies become successful businesses. Both parties quickly recognized the value in working together and formed a strong partnership.
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