NewsDec 15, 2022

MasterControl raises $150M, its first outside funding

MasterControl raised a $150 million Series A led by Sixth Street Growth in December 2022, at a $1.3 billion valuation. It had grown without outside money for nearly 30 years.

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MasterControl announced on 15 December 2022 “its first ever funding, a $150 million Series A round led by Sixth Street Growth”. The round valued the company at $1.3 billion.1

The release says MasterControl “has grown profitably for nearly 30 years” and “bootstrapped its way to more than $100M in ARR” before taking funding. It calls Sixth Street Growth the company’s first external investor.1 MasterControl is privately held, and we found no SEC filings.2

Since the round, MasterControl bought Qualer, an asset management software company, in March 2025.3 In September 2025 it said it had passed $200 million in annual recurring revenue, with more than 1,250 customers in nearly 40 countries.4

What it means for buyers

Our MasterControl review notes that the terms set no cap on renewal prices, that you can’t reduce licences during a term, and that the last public list prices date from 2019.

  1. GlobeNewswire via AAP: MasterControl raises $150M Series A. Press release, 15 Dec 2022, checked 1 Oct 2026. ↩︎ ↩︎

  2. SEC EDGAR: company search “mastercontrol”. Public filings database, checked 1 Oct 2026. ↩︎

  3. MasterControl: MasterControl acquires Qualer. Vendor press release, 3 Mar 2025, checked 1 Oct 2026. ↩︎

  4. MasterControl reaches $200M ARR. Vendor press release, 4 Sep 2025, checked 30 Sep 2026. ↩︎

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