MOUNT LAUREL, N.J., Jan. 5, 2016 /PRNewswire/ -- Agilence, Inc., the leading provider of cloud-based data analytics solutions for retail and food & beverage organizations, today announced that it has raised $6 million in new funding led by Arrowroot Capital. Additional funding was provided by previous investor Aster Capitol. The new capital will be used to accelerate Agilence's continued growth.
"In 2015 our 20/20 product grew from the industry's best exception reporting software into a full data analytics solution that can benefit every operating unit within an organization," said Russ Hawkins, President & CEO, Agilence, Inc. "This new round of funding will help accelerate our growth in the retail space, while also allowing us to expand into new markets like food & beverage."
Over the last 18 months 20/20 has been implemented by over 50 leading retail and food & beverage organizations in America. The funding provided by Arrowroot Capital and Aster Capital will be used to enhance product development, improve sales & marketing, and boost the already industry leading support team.
"We are committed to invest in innovative, forward thinking companies that utilize the software-as-a-service environment. We are eager to fuel growth at Agilence and help them reach their full potential as a company," said Kareem El Sawy, Partner, Arrowroot Capital.
Agilence (www.agilenceinc.com) is the industry leader in data analytics and reporting solutions for retail and food & beverage organizations. Agilence develops 20/20 Data Analytics™, a family of 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. To learn more about Agilence, please email firstname.lastname@example.org or call 856-366-1200.
About Arrowroot Capital
Arrowroot Capital is a growth equity firm based in Santa Monica, California that invests in growing software-as-a-service and internet-based businesses. Arrowroot aims to provide equity capital in the range of $5M-$20M, but has access to a much larger pool of capital if needed. Arrowroot chooses to partner with companies that will benefit from the focused and unique expertise the firm offers. Learn more at www.arrowrootcapital.com.
Adam J. Creamer
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SOURCE Agilence, Inc.