Flexera (Thoma Bravo) acquires ProsperOps from H.I.G. Growth sale

H.I.G. Growth Partners has sold cloud cost automation specialist ProsperOps to Flexera, a company controlled by private equity firm Thoma Bravo. The transaction, announced by the seller, closes a chapter that began with H.I.G.’s investment in December 2022 and underlines growing consolidation in the FinOps software space. H.I.G. Capital — the broader group behind the deal — manages roughly $74 billion in assets, highlighting the scale of the growth affiliate that backed the company.

ProsperOps is a SaaS platform that automates cloud cost commitments and rate management across AWS, Google Cloud and Microsoft Azure. Since its 2018 founding the company has moved beyond a single-cloud point solution to a multi-product suite that now autonomously manages approximately $6 billion of annual customer cloud spend and has delivered over $3 billion in lifetime savings for customers.

During H.I.G. Growth’s ownership the business scaled rapidly: management reports annual recurring revenue expanded roughly 6x and EBITDA rose by about 9x. CEO and co-founder Chris Cochran said the firm’s roadmap focused on blending rate optimisation, workload optimisation and visibility into a single platform — an approach he described as necessary as enterprise buyers demand consolidated, automation-first FinOps workflows.

Buy-side partners at H.I.G. framed the exit as a successful build-and-scale outcome. Ross Hiatt, Managing Director and Head of H.I.G. Growth, pointed to product innovation and disciplined execution as drivers of the company’s rapid expansion. Albert Koh, Managing Director, emphasised the operational scaling that enabled ProsperOps to broaden geographic reach and deepen product coverage ahead of the sale.

The deal comes at a moment of intensifying demand for tools that rein in soaring cloud expenditure. Enterprise public cloud spending continues to run in the hundreds of billions annually, and CIOs increasingly prioritise automated cost controls as part of broader cloud governance. Analysts track a wave of consolidation as larger IT management and software platforms — including those backed by major buyout firms — seek to embed AI-enabled cost controls into broader IT asset, license and spend-management suites.

Strategically, the acquisition gives Flexera an expanded entry into autonomous FinOps and a complementary set of rate-optimisation capabilities to bundle with its existing asset and software spend products. For the market, the transaction signals further convergence between legacy cloud-cost tooling and emergent AI-driven automation. Integration will be the next test: buyers will watch how the combined offering addresses scale, risk management and cross-cloud orchestration as competing vendors jockey for enterprise budgets.