Total amount raised
$979.9 Millions
Latest funding date
2/1/2022
Location
Boomi has successfully navigated multiple funding rounds, with its most recent being a Debt Financing round closed on February 25, 2022. The company was acquired by Francisco Partners on May 2, 2021, marking a significant milestone in its financial journey.
Keep reading to explore the intricacies of Boomi's fundraising journey and the investors backing this innovative platform.
What Is Boomi?
Boomi, founded on March 1, 2000, by Rick Nucci, is headquartered in Conshohocken, Pennsylvania. The company specializes in providing cloud integration solutions through its SaaS platform, AtomSphere.
Boomi's platform connects various SaaS applications, enabling seamless data integration and management. This service is crucial for businesses looking to streamline their operations and enhance connectivity across different software systems.
With a workforce ranging between 1001-5000 employees, Boomi continues to innovate in the field of cloud integration, offering a comprehensive suite of tools for digital transformation.
How Much Funding Has Boomi Raised?
- Angel Round
- Amount Raised: $900K
- Date: January 2002
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial product development.
- Series A
- Amount Raised: $4M
- Date: July 2008
- Lead Investors: FirstMark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate Boomi's go-to-market strategy and secure its position in cloud-based data and application integration services.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: May 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To facilitate the acquisition by Francisco Partners.
- Debt Financing
- Amount Raised: $975M
- Date: February 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and future growth initiatives.
Total Amount Raised: $979.9M. Current Valuation: Not publicly disclosed.
Key Investors
- Francisco Partners
- Details: Francisco Partners is a leading global private equity firm that specializes in investments in technology and technology-enabled services businesses. They have a strong track record of helping companies grow and innovate.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: BeyondTrust, GoodRx, Redis Labs.
- FirstMark Capital
- Details: FirstMark Capital is a venture capital firm based in New York City, known for investing in companies that create new markets with innovative technology solutions. They have nearly $2 billion in capital commitments.
- Investment Focus Areas: Technology, consumer, healthcare.
- Notable Investments: Pinterest, Shopify, Riot Games.
- Sixth Street Specialty Lending
- Details: Sixth Street Specialty Lending is a specialty finance company that provides financing solutions to growing companies. They are part of Sixth Street, a global investment firm.
- Investment Focus Areas: Technology, healthcare, industrials.
- Notable Investments: Not publicly disclosed.
- TPG
- Details: TPG is a global alternative asset firm with a focus on private equity, growth capital, real estate, and public equity. They manage a diverse set of funds and investment vehicles.
- Investment Focus Areas: Technology, healthcare, real estate.
- Notable Investments: Airbnb, Uber, Spotify.
What's Next for Boomi?
Boomi stands at the cusp of significant growth opportunities, driven by the increasing demand for cloud-based integration services. The company's "connect once, integrate everywhere" approach positions it to become a key player in the SaaS industry. With the backing of investors like FirstMark Capital, Boomi is well-placed to expand its market reach and develop specialized connectors through its SDK.
Future fundraising rounds seem likely as Boomi continues to scale, leveraging its strong financial backing to fuel further innovation. However, the company must navigate challenges such as intense competition and the need for continuous platform improvements to maintain its market edge.
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