However, he said this had also made troubled firms attractive to private equity investors because “valuation expectations are much more reasonable” than companies that have begun large venture capital financings in recent years. With annualized sales of more than $10 million, the company has grown at an average annual rate of about 40% over the past five years, but has increased tenfold over the past 18 months as its corporate customers increasingly partner with distributors and other partners using its platform. “The opportunity we have to get things done in the world is fantastic,” said Mike Gardner, CEO of Agreement Express. “Our number one goal was to find a capital partner to support it.” Over the past three years, Agreement Express` revenue has grown steadily by 161%. More recently, in the year ended December 31, 2017, the Company increased net acquisition of new customers in payments, asset management and insurance by 550% over the previous year. In 2017, the number of employees of the company increased, with a 91% increase in staff compared to the previous year. In 2017, the 194th largest profit 500 fastest growing companies in Canada, the Agreement Express is about to accelerate its growth. The need to develop solutions for the financial services sector will only continue with the development of technology and consumer needs. This capital injection will allow us to make the necessary investments in our business to ensure that we take responsibility for our customers in their ongoing quest for digital transformation. “We generally invest in technology companies outside the major technology centers in the U.S., where there are more pier companies” — companies funded by friends, families and angel investors — rather than “all or nothing gifted” that generated a lot of venture capital amid heightened expectations,” said Richard Maclean, managing partner of Charlotte, N.C.-. “We really find Canadian markets and the Canadian approach to building these businesses is consistent with our philosophy…. What [Agreement Express] has accomplished with limited means … It`s very impressive. Agreement Express, which grew by more than 40% in 2017, is well positioned to use the industry`s transfer from older systems and manual processes to efficient digital solutions.
Its end-to-end software solutions enable asset management, payment and insurance companies to increase the acquisition of new customers and improve loyalty by offering optimized personalized experiences, supported by comprehensive and comprehensive workflows. The growth private equity partnership with Agreement Express represents Frontier`s third investment in Canada in the past 12 months and the fifth investment in a SaaS-based company in the past eight months. This investment comes from the company`s $700 million Frontier V fund, which was closed in 2017. CHARLOTTE, NC and VANCOUVER, BC – (April 12, 2018) – Frontier Capital (“Frontier”) today announced that it has signed a definitive agreement for a mostly growth-oriented stake in Agreement Express, a SaaS-based provider of digital boarding platforms that focuses on streamlining and improving the customer experience for asset management, payment and insurance providers. Frontier Capital is a Charlotte-based growth participation company that focuses exclusively on software and technology-based business services companies.