Thoma Bravo Invests $100 Million in HubSync for Growth and Innovation

MIAMI and FRANKLIN, Tenn., May 5, 2025 /PRNewswire/ — Thoma Bravo, a leading software investment firm, announced today it has invested over $100 million in HubSync, a tax and accounting platform that automates operations for CPA firms. This financial backing aims to enhance HubSync’s product offerings, customer service, and overall growth strategy.

HubSync, founded in 2019, has quickly established itself as a leader in tax and accounting automation. As more than 85% of top CPA firms depend on multiple software tools to manage workflows, HubSync’s all-in-one solution promises significant return on investment by streamlining processes.

From 2020 to 2024, HubSync reported an impressive 744% revenue growth while maintaining strong profitability. The company currently serves several major CPA firms in the U.S., transforming their client interactions and internal workflows with innovative software solutions.

“HubSync’s mission to modernize tax and accounting technology has reshaped the industry,” said John McGowan, HubSync’s Founder and CEO. “With Thoma Bravo’s expertise in scaling software companies, we anticipate accelerated innovation and growth in our industry.”

Before establishing HubSync, McGowan was KPMG’s Chief Information Officer and led Tax Technology at Deloitte for over 20 years. “This investment highlights the strength of our platform and team,” McGowan added. “We are eager to partner with Thoma Bravo to transform the tax and accounting landscape further.”

Ross Devor, a Thoma Bravo Partner, noted that HubSync’s cutting-edge technology makes it a significant player in the software sector for tax and accounting. “John and his team have created a platform that addresses the crucial needs of professionals seeking efficiency and enhanced customer satisfaction,” Devor remarked.

Dillon Biddiscombe, a Vice President at Thoma Bravo, expressed excitement over the partnership: “We have been impressed by HubSync’s rapid growth and innovative methods. We’re looking forward to leveraging our operational expertise to support their expansion.”

Financial advisor Kaizen Equity Partners and legal counsel Taft Law advised HubSync, while Goodwin provided legal counsel to Thoma Bravo. “HubSync’s growth trajectory reflects its impact on tax compliance and workflow automation, currently serving leading CPA firms in the U.S. and Canada,” the announcement stated.