William Blair acted as financial advisor to ProfitSolv, a portfolio company of Lightyear Capital, in connection with their significant strategic investment co-led by FTV Capital (FTV) and existing investor Lightyear Capital. The transaction closed on June 16, 2025.
About the Companies
ProfitSolv is a comprehensive suite of billing, payments, and software solutions for legal, accounting, and other professional services firms. The company’s suite of practice management software solutions includes leading brands CosmoLex, TimeSolv, Orion, Tabs3, RocketMatter, Mango, and Paymo. ProfitSolv was founded in 2020 and is based in Knoxville, TN.
Lightyear Capital is a New York-based private equity firm that partners with growing companies at the nexus of financial services and technology, health care, and business services. For over 20 years, Lightyear Capital has worked closely with management and leveraged its industry expertise, network of advisors, and operating resources to accelerate growth and build market-leading businesses. As of December 31, 2024, the firm had assets under management of $7.2 billion.
FTV is a sector-focused growth equity investment firm that has raised more than $10.2 billion to invest in innovative, high-growth companies across financial technology and services, vertical software, enterprise technology and services, and healthcare technology and services. Founded in 1998, the firm has developed a highly differentiated and disciplined growth equity model, which leverages the firm’s deep domain expertise and thematic investing approach to help portfolio companies accelerate growth. FTV also provides companies with access to its Global Partner Network®, a strategic group of more than 600 executives from many of the world’s leading financial services firms, and FTV Propel®, an in-house team of seasoned operational leaders who deliver counsel and resources across a range of critical business functions. The firm has invested in over 150 portfolio companies, including Agiloft, BillingPlatform, JustPark, Ottimate, SingleOps, and Vagaro, and successfully exited/partially exited companies including CardConnect (acquired by First Data), Centaur (acquired by Waystone Group), Egress (acquired by KnowBe4), Enfusion (acquired by Clearwater Analytics), VPay (acquired by Optum), and WorldFirst (acquired by Ant Financial).
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