Agiloft secures $45 million growth equity investment
Agiloft, a provider of no-code contract and commerce lifecycle management software, has announced a $45 million growth equity investment from FTV Capital, an investment company focused on enterprise technology and services, financial services, and payments and transaction processing.
Agiloft’s investment from FTV is the company’s first round of external funding and will be used to expand its position in the enterprise contract and commerce lifecycle management space as it accelerates its AI-based product development and strengthens its vertical and geographic market presence. Agiloft provides a no-code platform that drives configurability and automates complex enterprise workflows through an iterative design process.
In conjunction with the transaction, Agiloft appointed Eric Laughlin to the role of CEO, effective immediately. Laughlin most recently served as global leader of legal managed services at Ernst & Young, LLP. Founder and former CEO of Agiloft, Colin Earl, will remain with the company as chief technology officer, overseeing product development, engineering, security and technology infrastructure and providing strategic guidance to the company.
As part of this transaction, FTV Capital’s Alex Mason and Abhay Puskoor will join Agiloft’s board of directors.
“Agiloft has established itself as a trailblazer in the fast-growing market for contract and commerce lifecycle management software,” said Mason, who is a partner at FTV Capital. “To develop a no-code product that customers love, while prioritizing profitable growth without external investment, is a remarkable achievement. We are proud to be a collaborative partner to the Agiloft team and look forward the exciting journey ahead.”
For more information, visit www.agiloft.com.