IPO on 5/20/09 (NYSE: SWI)
At the time of the Bain Capital Ventures investment, SolarWinds was at a pivotal point in the company’s history - the company was looking to find the right investment partner to help further accelerate its growth. The first step was building up the management team. Bain Capital Ventures helped SolarWinds select and recruit a CEO and Executive Management team. In addition, Bain Capital Ventures helped SolarWinds relocate to Austin, Texas to have access to talent to build out its management team and board.
As the company grew, Bain Capital Ventures helped SolarWinds reorient it sales model from an inbound approach to an outbound strategy. SolarWinds utilized its brand recognition to expand into new product areas. Bain Capital Ventures also provided introductions and assistance on multiple acquisitions to supplement the company’s platform before becoming public. As part of the IPO process, SolarWinds leveraged the Bain Capital network for market and financing insight.
Bain Capital Ventures helped SolarWinds complete a highly successful IPO on the NYSE in May 2009 in the amount of ~$150M. Today, Bain Capital Ventures serves on the SolarWinds Board of Directors and as Chairman of the Compensation Committee. At the time of the initial Bain Capital Ventures investment, SolarWinds had ~23,000 corporate customers. At the time of its IPO, the SolarWinds customer base had grown to ~60,000. Today, SolarWinds has over 95,000 customers.