KKR has entered into an agreement to acquire a majority stake in Agiloft, a prominent player in the contract lifecycle management (CLM) sector. The deal, executed through KKR’s Next Generation Technology III Fund, stipulates additional investments from FTV Capital, an existing backer, and JMI Equity, a new investor. This infusion of capital aims to bolster Agiloft’s market share, client acquisition, and product innovations, while maintaining its commitment to customer success.
Agiloft is recognized for its data-centric CLM software, which serves diverse departments such as legal, procurement, and sales by streamlining contract management processes. The platform’s flexibility supports complex needs and integrates with other software systems, thereby enhancing operational efficiency. CEO Eric Laughlin highlighted the company’s growth and dedication to customer satisfaction as key differentiators.
Jimmy Miele, Director of Tech Growth at KKR, emphasized Agiloft’s ability to provide a comprehensive solution for regulatory compliance and workflow management. Similarly, Alex Mason from FTV Capital pointed to Agiloft’s rapid growth driven by its no-code platform. FTV first invested in Agiloft in 2020 and sees ongoing opportunities in the burgeoning CLM market.
The partnership with KKR, JMI Equity, and FTV Capital will also establish a broad employee ownership program, reflecting a commitment to employee engagement. This initiative aligns with KKR’s broader strategy, which has awarded significant equity to non-senior management employees across its portfolio.
As part of the transaction, Moelis & Company LLC served as the exclusive financial advisor to Agiloft. Legal advice was provided by Baker McKenzie for Agiloft and by Gibson, Dunn & Crutcher LLP for KKR.
The deal underscores KKR’s ongoing investment in the technology and software sectors, which also include OneStream, o9, OutSystems, ReliaQuest, RainFocus, and Restaurant365. More details can be found in the original announcement here.