Mailgun changes hands again because Thoma Bravo buys majority stake – TechCrunch



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Mailgun, an e-mail API delivery service, today announced that it was selling a majority stake in the company to private equity firm Thoma Bravo. Companies have not shared terms, but this is the second owner of the company's more than eight-year history.

Mailgun provides API services to create e-mail functionality in applications. Today, it has more than 150,000 customers using its APIs, according to data provided by the company.

In a blog post announcing the investment, CEO William Conway said the new money should help the company expand its capabilities and accelerate the product roadmap, a common refrain for companies that are about to be acquired.

"We will be investing millions in product development that you can use to improve your delivery capabilities, gain more insight into your emails and deliver an unparalleled experience to your customers. We are also doubling customer success and empowerment to ensure our customers have exactly what they need to expand their communications, "Conway wrote in his blog post.

The company, founded in 2010 and part of the cohort Y Combinator Winter 2011, had a complex history. Rackspace acquired in 2012 and held until 2017 when it turned into a private company. At that point, Turn / River, another private equity firm, invested US $ 50 million in the company. Following today's agreement, Turn / River will hold a minority stake in Mailgun.

Mailgun usually competes with companies like MailChimp and SendGrid. Thoma Bravo has a history of buying corporate software companies. Most recently, it bought a majority stake in the Apttus enterprise software company. It also has investments in SolarWinds, SailPoint and Blue Point Systems.

Thoma Bravo did not respond to a request for comment before posting.

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