- Agiloft — the global standard in no-code contract and commerce lifecycle management — announced that it has raised $45 million in growth equity funding from FTV Capital
Agiloft — the global standard in no-code contract and commerce lifecycle management — announced that it has raised $45 million in growth equity funding from FTV Capital. Prior to this funding round, the company bootstrapped and has been profitable.
Agiloft’s investment from FTV is the company’s first round of external funding and the funding will be used to build on its leadership position in the rapidly growing enterprise contract and commerce lifecycle management (CCLM) space as it accelerates its AI-based product development and expands its vertical and geographic market presence. The company’s no-code platform drives industry-leading configurability and automates complex enterprise workflows through an iterative design process at a fraction of the time and cost of traditional software.
In connection 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 where he managed the Pangea3 and Riverview Law teams and provided clients with technology and service solutions in the contracts, e-discovery, and compliance domains globally.
Colin Earl, founder and former CEO of Agiloft, will remain with the company as chief technology officer. In this role, Earl will oversee product development, engineering, security and technology infrastructure and providing strategic guidance to the company.
In connection with the funding, FTV Capital’s Alex Mason and Abhay Puskoor will join Agiloft’s board of directors.
KEY QUOTES:
“Colin and his team at Agiloft have built a unique company, emphasizing customer-focused execution and a culture of trust and transparency – all built on a foundation of technical excellence. The result has been steadily accelerating growth and consistent profitability. I’m honored to have been chosen to lead Agiloft in the next chapter of its development. A big part of my role will be to grow the company while maintaining the elements that have made it so successful.”
“Colin and his team at Agiloft have built a unique company, emphasizing customer-focused execution and a culture of trust and transparency – all built on a foundation of technical excellence. The result has been steadily accelerating growth and consistent profitability. I’m honored to have been chosen to lead Agiloft in the next chapter of its development. A big part of my role will be to grow the company while maintaining the elements that have made it so successful.”
– Eric Laughlin
“Eric not only has a track record of success, growing and leading large global organizations, he has the vision, domain expertise and integrity to lead Agiloft in its next phase of growth and product innovation.”
– Colin Earl, founder and former CEO of Agiloft
“Agiloft has established itself as a trailblazer in the fast-growing market for contract and commerce lifecycle management software, 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.”
– Alex Mason, partner at FTV Capital
“With digital transformation moving at the speed it is today, contract management solutions that are well-scoped and executable are mission-critical. As businesses continue to find new efficiencies and ways to reduce costs, contract management will play a significant role in adoption of automation, and Agiloft’s highly configurable no-code platform will enable automation at a fraction of the time and cost of traditional software. We welcome the opportunity to connect Agiloft to the enterprises in our Global Partner Network who will value the measurable ROI that the platform delivers.”
– Abhay Puskoor, principal at FTV Capital
