General Atlantic and its climate investing venture, BeyondNetZero, have backed a $295 million round for AI-based business planning software provider o9 Solutions.

Al Gore's Generation Investment Management and return investor KKR also participated in the funding, which values the company at $2.7 billion and continues private equity's ongoing hot pursuit of businesses in the software sector. In April 2020, o9 received a $100 million minority equity investment from KKR that valued it at over $1 billion.

Dallas-based o9 helps users forecast demand, analyze financial operations and manage communications with internal stakeholders and suppliers. Working with companies such as Google, Nestle and Bridgestone, the software company's tech is used across a variety of verticals including retail, consumer and industrial products manufacturing, semiconductors, life sciences, automotive, telecom, and oil and gas.

Last year, General Atlantic and KKR each participated in at least two software transactions with deal sizes of $1 billion or more, according to PitchBook data. KKR, alongside Clayton, Dubilier & Rice, completed a $5.3 billion public-to-private takeover of enterprise data cloud company Cloudera in October, while General Atlantic led a $1.5 billion Series A in educational software company Articulate in July. Here's a look at several software deals in 2021 that included participation from o9 investors:
Featured image by metamorworks/Getty Images

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