Agilence will continue to be led by CEO Russ Hawkins, who shared a letter to its customers on the acquisition on LinkedIn that stated that the new relationship will accelerate Agilence’s growth trajectory and strengthen its entire community.
Financial terms of the deal were not disclosed.
“For me, this transition signals the next stage of growth for Agilence and will allow us to better serve our customers. A new majority shareholder will also make more resources available to build and develop our team, speed product innovation and continue to maximize value for you and your business,” Hawkins said.
Agilence is a leading retail data management and analytics Software-as-a-Service platform, serving over 200 leading grocery, pharmacy, restaurant and retail enterprises. Its software platform aggregates and analyzes transactional and operational data across brick-and-mortar and e-commerce channels, delivering insights at the customer, product and employee level to help enterprises improve sales, reduce costs and maintain compliance with internal policies and regulatory requirements.
“We are impressed by the momentum at Agilence and thrilled to further the company’s vision of serving as the trusted analytics platform for retail operations,” Jonah Sulak and Vikram Abraham, co-founders and managing partners at Cuadrilla, said. “Agilence’s cloud-native, purpose-built SaaS platform is well positioned for continued growth, differentiating through its vertical-specific feature functionality, out-of-the-box deployment model and high degree of self-service capabilities. Agilence is led by an exceptional team and, as Cuadrilla’s inaugural investment, will be complemented by our commitment to investing in innovation to support increased scale and accelerated growth.”
Massumi + Consoli LLP served as legal adviser to Cuadrilla. Lincoln International served as financial adviser and Cooley LLP served as legal adviser to Agilence. Financing for the transaction was led by PNC Bank and Hercules Capital.