IRVING, TX, Tango, the leader in Intelligent Store Lifecycle Management solutions and services, today announced that it has received an investment of $30 million from Frontier Capital, a leading growth equity firm.
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The investment in the company's software-as-a-service, consulting and managed services businesses will support Tango's rapid growth as well as the increasing demand for their Intelligent Store Lifecycle Management solution in the North American retail market.
'We're very pleased to partner with Frontier Capital to help accelerate our next stage of development,' says Pranav Tyagi, Tango's Co-Founder and CEO. 'When we started the company seven years ago, we had a singular vision: to develop leading solutions and services that transform the way retailers manage their real estate and store development processes. During those years we've provided innovative solutions and services to over 120 retail brands and this investment from Frontier not only supports our vision for the market, but enables us to expand on it and ensure we continue to anticipate and address the evolving requirements of our retail customers.'
Tango provides the world's largest retail and restaurant companies with innovative software solutions and consulting services to help them plan, develop and manage their real estate and store development activities. The company's cloud-based software-as-a-service (SaaS) solution, Intelligent Store Lifecycle Management, has transformed the space as it brings together customer and location predictive analytics with purpose-built GIS and store development execution to help companies see and analyze all the available opportunities, pick the right sites and open them faster.
'Intelligent Store Lifecycle Management is truly a game-changer in the industry, enabling retailers with the intelligence and logic to build a real estate plan and execute against it -- as well as adapt to changing conditions -- effectively bridging strategy and execution,' explains Mr. Tyagi. 'Its development and rapid adoption in the marketplace is a testament to our vision and to our people. Tango's team of experts has amassed hundreds of years of combined industry experience. Frontier Capital's investment in this vision and these people will enable us to accelerate our growth while continuing to innovate and provide leading solutions and services to retailers and restaurant companies.'
Frontier Capital is a growth equity firm focused exclusively on partnering with high growth software and services companies that have reached an inflection point where a growth equity investment can create significant value for shareholders. Frontier's investment helps these companies accelerate sales and marketing activities, as well as supporting market expansion and product enhancements.
'We are impressed with Tango's unique understanding of the market, innovative approach to developing and delivering industry-leading solutions and services, incredible roster of clients and strong team of industry experts,' says Andrew Lindner, managing partner, Frontier Capital. 'We are confident that our partnership will support and accelerate their growth prospects, help solidify their position as a market leader and allow them to continue to deliver the most innovative Store Lifecycle Management solutions in the industry.'
Tango transforms challenging business situations by unearthing hidden customer and location opportunities for our diverse roster of location-centric clients, including North America's largest retailers and restaurant chains. A leader in Intelligent Store Lifecycle Management, Tango leverages deep executional expertise and an industry leading cloud based SaaS platform to enable our clients to accurately plan and execute their real estate strategy. The Tango team has worked with over 120 retailers and brings that knowledge and best practices to its Intelligent Store Lifecycle Management solution and its consulting and services offerings. For more information, visit tangomc.com and tangoanalytics.com.
About Frontier Capital
Frontier Capital is a Charlotte-based growth equity firm focused exclusively on software and technology-enabled business services companies. Founded in 1999, Frontier partners with management teams that can benefit from capital to accelerate growth, fund acquisitions or generate shareholder liquidity. Frontier makes minority and majority equity investments in high growth companies and has built an excellent track record of delivering returns to both our investors and management partners. For more information, please visit frontiercapital.com.