Chicago tech firm BigTime Software has landed a large investment from Vista Equity Partners as it looks to grow its software for professional services firms.
BigTime said Thursday it has raised $100 million in growth capital from Vista's Endeavor fund, the firm's fund that focuses on high-growth enterprise software investments in companies with $10 million in revenue or more. In 2019, BigTime raised $14 million from Boston-based private equity firm Wavecrest Growth Partners. Wavecrest will retain a stake in BigTime following the deal, the company said.
Founded in 2002 by Brian Saunders, BigTime provides billing software to businesses. Its platform helps companies monitor and manage their finances through budgeting, tracking and invoicing. BigTime says its software is used by more than 2,300 professional services firms like Draper and Associates and Energy GPS.
BigTime said it will use the funding to grow its offices in Chicago and Phoenix.
The investment also is the latest $100 million+ round of funding for a Chicago tech company this year. After a major uptick in nine-figure funding rounds in 2021, this year has already seen four local tech firms raise such financings, with Foxtrot, Zero Hash and project44 previously securing investments.
