BigTime leverages strategic growth investment from Vista Equity Partners to extend its leadership position in the multibillion-dollar PSA market.
CHICAGO–(BUSINESS WIRE)–BigTime Software, the premier provider of cloud-based software for professional services firms, today announced the acquisition of Projector PSA, a leading provider of cloud-based PSA software to the middle market. Founded in 2003 and recognized as a leader in the PSA space, Projector brings deep industry expertise and sophisticated product capabilities to hundreds of professional services organizations.
The combined business will provide an operating platform with practice management functionality that helps professional services firms grow with confidence. These cloud-based capabilities will enable firms to plan, manage and receive payment for their most valuable resource – time. Together, BigTime and Projector serve over 2,700 customers, have over 40 years of industry experience and support clients across all core professional services verticals. The combined entity will track over $10 billion of billable time each year, delivering a solution that scales with growing firms and serves as a best-in-class destination for professional services teams of all sizes.
“This is a unique opportunity to connect Projector’s deep consulting, substantive functionality and sophisticated customer expertise with BigTime’s operational scale and intuitive user experience,” said Brian Saunders, CEO and founder of BigTime. “Our combined strengths enable us to better serve the needs of the middle market and, together, our capabilities will allow our customers to drive operational excellence and maximize profitability.”
Projector’s office, located in Boston, will become BigTime’s third U.S. office (joining Chicago and Phoenix), and Denis Whelan, CEO of Projector, will serve as President of the Projector business unit. BigTime will continue to invest in and support Projector’s existing platform while leveraging the combined expertise and functionalities of both companies to enhance the services provided to BigTime and Projector customers.
“We have been laser focused on delivering industry leading software and services that have enabled incredible growth for our customers and for Projector,” said Denis Whelan, CEO of Projector. “What excites us most about this combination is the ability to leverage BigTime’s innovation at scale to bring Projector’s core strengths to an even wider audience.
The acquisition continues BigTime’s recent momentum, coming just six months after a $100 million strategic growth investment from Vista Equity Partners (“Vista”), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses.
“We invested in BigTime to further advance their vision to develop best-in-class solutions and capitalize on the multibillion-dollar underserved market opportunity for professional services automation,” added Rachel Arnold, Co-Head of Vista’s Endeavor Fund and Senior Managing Director. “The combination with Projector strengthens BigTime’s position as a clear leader with the right combination of technology, talent and brand trust to capture that opportunity.”
“We are extremely proud of the growth and scale that Projector has achieved since our initial investment in 2019,” said Todd Gibby, Managing Partner of Lock 8 Partners. “As we look forward, we couldn’t be more excited to invest alongside Vista Equity Partners and Wavecrest in a combination that will ensure the trajectory of the services economy is profitable, efficient and geared for growth.”
Additional financial details of the transaction were not disclosed. Peak Technology Partners served as financial advisor to Projector and Goodwin Proctor served as legal advisor.
BigTime is backed by Vista and an investor group led by Wavecrest Growth Partners that includes Lock 8 Partners. To learn more about BigTime, please visit bigtime.net.