TCV to acquire a majority stake in Oversight from Luminate Capital Partners.

Technology Crossover Ventures, a growth equity firm, agreed to acquire a majority stake in Oversight, a provider of spend management technology, from Luminate Capital Partners, a private equity firm. Financial terms were not disclosed. “We are excited by this latest milestone in our company’s trajectory. TCV brings to the table a rich portfolio of growth-stage companies in the technology industry. Their expertise and track record of taking companies to the next level fits perfectly with our vision for Oversight,” Terrence McCrossan, Oversight CEO.