Thoma Bravo Refuses to Inject Fresh Cash Into Medallia

Thoma Bravo won’t inject any fresh capital into Medallia, the ailing software company that’s become a visible example of the generous equity valuations and loose lending standards that prevailed during the pandemic-era buyout boom.

The creditors will “probably take back the keys” to the company, according to Orlando Bravo, founder and managing partner at the private equity giant.