Medallia Secures Recapitalization Deal Led by Blackstone and Apollo

The transaction marks a definitive shift in ownership, transitioning Medallia away from Thoma Bravo. Since being taken private in 2021, the company has operated under a mandate to pivot toward an AI-first market strategy. CEO Mark Bishof confirmed that the influx of funds will support a broader initiative to invest over $500 million into products and services for enterprise clients throughout the coming years.

Brad Marshall, Global Head of Private Credit Strategies at Blackstone, noted that the firm remains confident in Medallia’s current profitability and its capacity to serve large-scale global accounts. Pending regulatory approvals and standard closing conditions, the company expects the deal to finalize before the end of the year. Management maintains that day-to-day operations will continue without disruption for customers, partners, and employees.