PRESS RELEASE:
Specialty finance firm’s investment enables cloud-based platform to focus on product development and team expansion to meet the needs of retail, grocery, pharmacy, and chain restaurant establishments
MOUNT LAUREL, N.J. & TORONTO–(BUSINESS WIRE)–August 14, 2017–
Wellington Financial LP, a privately-held specialty finance firm, announced today a US$4 million commitment for Agilence Inc., the leading provider of cloud-based analytics for store operations and loss prevention. The new capital will be used to further develop Agilence’s reporting solution that supports the mission-critical needs of some of the largest retailers, grocers, pharmacies, and chain restaurant operations in the United States. Today’s news comes on the heels of Wellington’s recent announcement that it has opened an office in the New York – New Jersey area.
“Many of the largest challenges facing retailers, grocers, pharmacies and others centre around operational inefficiencies and losses. Yet by identifying patterns and events within point-of-sale data, these challenges can become profit opportunities,” said Amy Olah, Business Development at Wellington Financial. “Agilence delivers the actionable insights these businesses need to stay ahead of their competition. We look forward to forging a partnership with a company that boasts such a diverse client portfolio, each of whom cite Agilence’s data analytics platform as an integral part of their long-term success.”
As the world’s leading cloud-based data analytics provider, Agilence works with more than 118 brands encompassing over 35,000 stores, including Rite Aid, L Brands, Panera Bread, and BJ’s Wholesale Club, to deliver insights on performance, empowering them to make informed decisions faster, increase efficiency, and improve profit margins across the enterprise. The company’s 20/20 Data Analytics™ platform recently expanded from a focus strictly on retail to include versions that support the individual needs of restaurants and pharmacies. Each industry-specific product variation evaluates business performance at every stage of the sales cycle while also ensuring that customers remain compliant with corporate or government standards.
“The importance of data-driven decision-making in business is more crucial than ever, and at Agilence, we’ve built the leading, unified solution for organizations to leverage the right insights from their POS data. These insights need to be accessible and delivered to every stakeholder from franchisees to managers in a way that immediately impacts the bottom line,” said Russ Hawkins, Chief Executive Officer of Agilence. “With today’s growth capital from Wellington, we’re even better positioned to grow our team and expand the products we’re offering to the market.”
About Wellington Financial, LP
Wellington Financial LP is a privately-held specialty finance firm providing term, venture, and amortizing loans up to $40 million. Wellington Financial LP is currently managing a $900 million investment program with offices in Menlo Park, New York, Santa Monica, and Toronto. Wellington Financial LP is managed by a partnership controlled by a fund management Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to the Fund. LPs include several of Canada’s largest institutional investors, crown corporations, financial institutions, and pension funds. Please visit the fund website at www.wellingtonfund.com.
About Agilence
Agilence is the industry leader in cloud-based data analytics solutions for store operations and loss prevention for retail and restaurant organizations. Agilence develops the 20/20 Data Analytics™ platform, which includes 20/20 Retail™, 20/20 F&B™ and 20/20 Rx™, three highly flexible and powerful cloud-based reporting solutions. 20/20 provides organizations with a complete view of their business, empowering them to make informed decisions faster, to increase efficiency, and improve profit margins across the enterprise. Agilence, Inc. is headquartered in Mount Laurel, NJ.
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Wellington Financial LP
Susan Mocherniak, 416-682-6007
smocherniak@wellingtonfund.com