Secondary·Technology/Vertical SaaS·June 17, 2026
Blackstone, Apollo, FSK backs Medallia
The investment gives the sponsor exposure to a customer and employee experience management software platform, with transaction terms undisclosed in the announcement.
Takeaways
- Medallia is a customer and employee experience software provider.
- Blackstone, Apollo, FSK consortium is acquiring Medallia with backing from Blackstone, Apollo, FS KKR.
- The business serves enterprise organizations across healthcare, automotive, and financial services.
Buyerinvestor group led by Blackstone, Apollo, and FS KKR Capital
TargetMedallia
SponsorBlackstone, Apollo, FS KKR
SellerThoma Bravo
TypeSecondary
IndustryTechnology
Sub-sectorVertical SaaS
Blackstone, Apollo, and FS KKR Capital Corp.
recapitalized Medallia, a customer and employee experience management software platform.
The transaction provides $150 million in new capital and transfers ownership from Thoma Bravo to the investor group, supporting Medallia's plans to accelerate AI and automation capabilities.
Medallia serves enterprises including Mayo Clinic, Mazda, and Santander and intends to invest over $500 million in product innovation over the coming years.
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