CHARLOTTE, N.C.--(BUSINESS WIRE)--Frontier Capital, a growth equity firm focused exclusively on software and technology-enabled business services companies, today announced a $30 million growth investment in Tango. The investment in the Dallas-based software-as-a-service (SaaS), consulting and managed services business represents the second from Frontier Fund IV, L.P., a $390 million growth equity fund.
“Tango has served as the trusted advisor for more than 120 retail brands, and its Intelligent Store Lifecycle Management solution is used by many of the world’s leading retail and restaurant enterprises, including Yum! Brands, Inc., Dunkin’ Brands Group, Inc., Big Lots, Inc., Lane Bryant and Tractor Supply Company,” said Andrew Lindner, managing partner, Frontier Capital. “Tango has earned a solid reputation by transforming how retail and restaurant companies manage their real estate and store development processes through their extensive strategy and consulting work, as well as their innovative Intelligent Store Lifecycle management software. We look forward to working with the Tango leadership team to further develop its offering to bring a fully integrated suite of solutions to market.”
Founded in 2008, Tango realized 375 percent growth from 2009-2013 and was ranked 260 on Deloitte’s 2014 Technology Fast 500™. 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. Tango’s cloud-based SaaS solution and Intelligent store lifecycle management product brings together customer and location predictive analytics with global information systems (GIS) and store development execution to help companies see and analyze all the available opportunities, pick the right sites and open them faster.
Tango plans to use the investment funds to:
- Maintain and accelerate growth in the retail vertical
- Innovate leading solutions and services to retailers and restaurant companies
- Continue to enhance Tango’s platform and provide more resources for faster customer onboarding
- Expand sales and marketing efforts
- Support market expansion
“Frontier Capital is known for helping technology companies like Tango with both the financial resources and strategic planning necessary to grow their business to the next level,” said Pranav Tyagi, Tango co-founder and CEO. “We already feel confident that this investment will solidify a productive and beneficial relationship for both companies as we work together to bring retailers even more intelligent store lifecycle management capabilities.”
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. The firm makes minority and majority equity investments in high growth companies and has built an excellent track record of delivering returns to both investors and management partners. For more information, please visit frontiercapital.com.
Tango transforms challenging business situations by unearthing hidden customer and location opportunities for a 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 clients to accurately plan and execute their real estate strategy. The Tango team has worked with over 500 retailers, and brings that knowledge and best practices to intelligent store lifecycle management and to its consulting and services offerings. For more information, visit tangomc.com and tangoanalytics.com.