Thoma Bravo's Behind the Deal
Thoma Bravo’s Behind the Deal podcast takes you behind the scenes of one of the largest software investors in the world. You'll hear the strategies and stories behind building Thoma Bravo’s portfolio of innovative, industry-leading software and technology companies. Presented by Orlando Bravo, “Wall Street’s best dealmaker” (Forbes), each episode offers a first-person account from the deal leads and CEOs that forged some of the largest software acquisitions at Thoma Bravo to date, and how they partnered together to innovate and grow those companies.
Go ‘behind the deal’ to learn how these deals came together, gaining insight on how Thoma Bravo helps great companies do even greater things.
Head to www.thomabravo.com/behindthedeal for information on the podcast, show notes, and more.
1
Exostar: The Explore Platform's First Investment
In this episode of Behind the Deal, Thoma Bravo Partner Carl Press and Principal Adam Kinalski are joined by Exostar CEO Richard Addi to tell the story behind one of the firm’s most hard-fought investments.
58 min
2
The Future of Restaurants in an AI World: Hudso...
At Thoma Bravo’s 2025 AI Summit, Partner Hudson Smith sits down with Olo Founder and CEO Noah Glass to unpack one of the firm’s most compelling recent investments.
36 min
3
From Scotland to Sydney: Andy Watt on Leading N...
In this episode of Beyond the Deal, Thoma Bravo Senior Partner A.J. Rohde and Principal Peter Hernandez sit down with Nearmap CEO Andy Watt for a candid conversation about leadership, culture and building a global technology company from Australia.
12 min
4
Nearmap: Building a Global Property Intelligenc...
In this episode of Thoma Bravo’s Behind the Deal, Senior Partner A.J. Rohde and Principal Peter Hernandez sit down with Nearmap CEO Andy Watt to unpack Thoma Bravo’s investment in Nearmap and the company’s evolution from an aerial imagery provider into a global property intelligence platform.
53 min
5
Inside Thoma Bravo: Holden Spaht & Brian Jaffee...
This week on Thoma Bravo's Beyond the Deal, the spotlight turns inward. Managing Partner Holden Spaht and Partner Brian Jaffee share their origin stories at Thoma Bravo — what the firm looked like in its early days, how responsibility comes fast, and why mentorship and entrepreneurialism sit at the center of the culture.
19 min
6
Ellie Mae: The $3.7B Take-Private That Became a...
Thoma Bravo’s Behind the Deal, Managing Partner Holden Spaht and Partner Brian Jaffee revisit the take-private and sale of Ellie Mae — a leading U.S. mortgage loan origination system — and how a $3.7B investment became an $11B exit to Intercontinental Exchange (ICE) just over a year later.
44 min
7
From Infantry to Intelligence: Grit, Discipline...
Intel 471 CEO and Co-Founder Jason Passwaters joins Thoma Bravo Partner Adam Solomon for a candid conversation about the experiences that shaped him as a leader.
11 min
8
Intel 471: From Bootstrapped Cyber Intel to Ent...
In this episode, Thoma Bravo Partner Adam Solomon and SVP Chandler Gay break down the firm’s investment in Intel 471, a bootstrapped, founder-led cyber threat intelligence company trusted by many of the world’s largest enterprises. Adam then sits down with CEO and Co-Founder Jason Passwaters, a former Marine and FBI cybercrime investigator, to discuss building Intel 471 without outside capital, partnering with Thoma Bravo to strengthen and expand the company, executing its first acquisitions, and how AI is reshaping the cyber threat landscape.
34 min
9
Scaling Enterprise Software with AI: Holden Spa...
Managing Partner Holden Spaht sits down with Charles Gottdiener, CEO of Anaplan, and Leagh Turner, CEO of Coupa, to discuss how enterprise software leaders are turning AI innovation into real business impact.
34 min
10
Orlando Bravo and IBM CEO Arvind Krishna on AI,...
Recorded live at Thoma Bravo’s 2025 AI Summit, this episode features a fireside chat between Thoma Bravo Founder and Managing Partner Orlando Bravo and IBM CEO Arvind Krishna. Krishna explains why AI is driving more software development—not less—boosting productivity, expanding entry-level hiring, and unlocking billions in operational savings reinvested into growth. He also breaks down IBM’s $34B acquisition of Red Hat and shares what’s next for enterprise AI, from agents layered on systems of record to smaller, purpose-built models.
57 min
11
Building Belief at Scale: Proofpoint CEO Sumit ...
9 min
12
Proofpoint: The $12B Deal Behind an AI-Driven C...
Season 4 of Behind the Deal kicks off with a deep dive into Proofpoint, a key investment within Thoma Bravo’s cybersecurity portfolio.
41 min
13
Thoma Bravo’s Behind the Deal is back for Season 4
Thoma Bravo returns with Season 4 of Behind the Deal—the chart-topping, award-winning podcast that goes inside the strategy, leadership, and conviction behind the world’s largest software-focused investment firm.
1 min
14
View From The Top: Orlando Bravo on His Journey...
Lessons on resilience, mentorship, and building software businesses for the long term.
49 min
15
Beyond Constraints: From Starting Lean to Scali...
21 min
16
How HubSync Became the Tax Automation Platform ...
34 min
17
Beyond Building NextGen Healthcare’s Successful...
19 min
18
How NextGen Healthcare Aims to Achieve Better H...
55 min
19
Beyond the Classroom: Shaping the Future of Lea...
14 min
20
How Instructure Grew into a Leading EdTech for ...
52 min
21
Beyond Performance: Building a “10-10” Company ...
13 min
22
How Ping Identity Mastered Identity Security fo...
56 min
23
How Applitools is Using AI to Improve Speed, Sc...
20 min
24
How Applitools Uses AI to Revolutionize Test Au...
41 min
25
Beyond the Friend Zone: Building Mailgun into a...
22 min