CIOReview
CIOREVIEW >> Tech Startup >>

FTV Capital Provides $45 Million Growth Equity Investment for Agiloft

By CIOReview | Tuesday, August 25, 2020

Accomplished Legal Tech Executive Eric Laughlin was appointed as CEO to Accelerate Growth in No-Code Contract and Commerce Lifecycle Management Software Company.

FREMONT, CA: Agiloft, a global standard in no-code contract and commerce lifecycle management, announced a $45 million growth equity investment from FTV Capital, a sector-focused investor in innovative companies in enterprise technology and services, financial services, and payments and transaction processing. FTV's investment for Agiloft is the company's first round of external funding. It will be used to build Agiloft's leadership position in the rapidly growing enterprise contract and commerce lifecycle management (CCLM) space. It accelerates its AI-based product development and widens its vertical and geographic market presence. Agiloft's no-code platform fuels industry-leading configurability and automates complex enterprise workflows from an iterative design process at a fraction of the time and the cost of traditional software.

In conjunction with the transaction, Agiloft appointed Eric Laughlin for the role of CEO, effective immediately. Laughlin most recently served as a global leader of legal managed services at Ernst & Young, LLP, where he looked after the Pangea3 and Riverview Law teams and offered the clients with technology and service solutions in the contracts, e-discovery, and compliance domains worldwide. Founder and former CEO of Agiloft, Colin Earl, will be with the company as a chief technology officer, overseeing product development, security, engineering, and technology infrastructure and offering strategic guidance to the company.  

"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," says Laughlin. "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 has a track record of success, growing and leading large global organizations, vision, domain expertise, and integrity to lead Agiloft in its next phase of growth and product innovation. The search took over a year, and it was well worth it to find the right individual." said Earl.

"Agiloft has established itself as a trailblazer in the fast-growing market for contract and commerce lifecycle management software," says Alex Mason, 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."  

"With digital transformation moving at the speed it is today, contract management solutions that are well-scoped and executable are mission critical," says Abhay Puskoor, principal at FTV Capital. "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."