Austin, TX – October 26, 2021 – Praecipio, a leading IT services and business process management consulting firm based in Austin, TX, announced today an investment from Periscope Equity, alongside Praecipio Management. Periscope Equity is a Chicago-based private equity firm focused on high-growth, founder-owned, and tech-enabled service and software companies. Through Periscope Equity's investment, Praecipio is positioned to play a greater role in helping organizations around the world solve complex business problems, empower teams to perform at their best, and drive exceptional customer experiences through tech and process-powered solutions. As part of the transaction, Periscope Equity plans to commit significant incremental capital to fund future acquisitions and new growth opportunities.
"In terms of scale and leadership in the space, Praecipio has differentiated itself as a true enterprise-level strategic advisor with strong customer-focused business practices and superior technical capabilities," said Periscope Equity Principal Eric Hinkle. "Praecipio has experienced significant growth over the past five years and with that growth, they have made the necessary investments to scale, creating an ideal platform investment. Our strategy is to join forces with Atlassian Solution Partners and build the dominant Scaled Agile, DevOps, and Service Management consulting firm with global reach."
"Our partnership with Periscope Equity aligns remarkably well with our vision for what's next in the digital landscape and the important role that businesses play in elevating the human experience and creating meaningful change," said Christian Lane, CEO and Founding Partner of Praecipio. "As we complete our fifteenth year in business, we look forward to this exciting new chapter, one where we can capitalize on the opportunity to accelerate growth, deliver more business value to enterprise clients across the globe, and make a collective impact in our communities."
For nearly two decades, Atlassian tools have enabled millions of organizations to streamline business and IT processes, collaborate effectively, and achieve enterprise-scale agility. As business leaders face increasing uncertainty in the ever-evolving marketplace, enterprise organizations across the Fortune 500 continue to rely on Atlassian's visionary products to close the digital divide, scale Agile processes, and align diverse business teams. Due to its extensive history with successful, large-scale Atlassian deployments, today's business challenges have created a significant opportunity for Praecipio to streamline siloed, multi-environment implementations of Atlassian products and other digital technologies through best-in-class business practices, consulting, integration, and training services.
"Praecipio has been an instrumental part of our customers' success, providing their Atlassian expertise and unique services to companies across many industries," said Cameron Deatsch, Chief Revenue Officer at Atlassian. "Praecipio has gone above and beyond to provide innovative solutions to Atlassian customers, and we are thrilled to support their continued growth and partnership with Periscope Equity."
"By leveraging the talented team and experienced company that Praecipio has built, we believe the firm will expand its capabilities to further enable enterprise clients to better execute on their most critical workflow - software development – that has 'eaten the world' of Fortune 500 IT departments, and that Atlassian products were developed to optimize. Through its strategic process improvement consulting capabilities, Praecipio can deliver not only technology and process excellence, but people excellence as well, enabling these organizations to achieve next-level strategic and competitive performance," added Joe McIlhattan, Vice President at Periscope Equity.
Praecipio is a leading business process and technology consulting firm based in Austin, Texas helping organizations successfully achieve their digital transformation goals. Specializing in process frameworks, including Agile, IT Service Management (ITSM), DevOps, and Enterprise Service Management, Praecipio serves as a strategic partner to industry leaders and organizations of all sizes, optimizing business processes with Atlassian's robust product suite and other category-leading technologies. As an Atlassian Platinum Enterprise Solution Partner, Praecipio offers integrated business and technology solutions that help clients deliver a delightful customer experience, increase costs savings, and improve business performance. Since establishing an official partnership with Atlassian in 2008, Atlassian has recognized Praecipio as their Partner of the Year for five of the last six years, including ITSM Partner of the Year in 2018 and Enterprise Services Partner of the Year in 2020.
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About Periscope Equity
Periscope Equity is a Chicago-based private equity firm focused on control investments in technology-enabled service and software companies across – Digital Marketing, Healthcare Technology, Security Solutions, and Business Process Automation. Periscope Equity targets companies that are founder-owned, offer mission-critical products and service offerings, demonstrate a history of sustainable profitability, and have known avenues to accelerate growth. In alignment with proven management teams, Periscope Equity provides strategic, operational, and commercial expertise to drive superior investment returns.
To learn more, visit www.periscopeequity.com