FTV invests in enterprise workflow specialist Agiloft

Tech-focused growth equity investor FTV Capital announced a $45 million investment in Agiloft to help the firm expand its geographic and vertical presence on the back of its artificial intelligence-based product. The equity investment comes as former Ernst & Young legal managed services executive Eric Laughlin is named CEO to Agiloft to accelerate growth in the company. He replaces founder Colin Earl who will remain at the company as chief technology officer, overseeing product development, engineering, security and technology infrastructure and providing strategic guidance to the company. The FTV investment is Agiloft’s first round of external funding and will be used to build on its leadership position in the rapidly growing enterprise contract and commerce lifecycle management (CCLM) space. According to FTV, Agiloft'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. The company has reported 134% growth in sales already this year. "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," said Laughlin. "The result has been steadily accelerating growth and consistent profitability.” 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, 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." FTV Capital has now raised a total of about $4 billion after the June close of its sixth and largest fund to-date, FTV VI, at the hard cap of $1.2 billion in capital commitments.

FTV invests in enterprise workflow specialist Agiloft

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