Gloo Announces Definitive Agreement to Acquire Financial and Business Outsourcing Firm Cedarstone

Acquisition will advance Gloo’s Applied AI strategy by adding outsourced accounting, donor operations, and fractional CFO services to the Gloo platform delivering essential financial outcomes for nonprofits.

BOULDER, Colo.--(BUSINESS WIRE)--Gloo (Nasdaq: GLOO), a leading technology platform serving the faith and flourishing ecosystem, today announced a definitive agreement to acquire Cedarstone, an integrated business services firm that provides finance and development outsourcing services to nonprofit organizations.

The acquisition advances Gloo’s Applied AI strategy by delivering essential business outcomes, not simply the tools, so each improvement in AI can reduce delivery costs and expand margins. By combining Cedarstone’s expertise with Gloo’s AI and agentic technology, Gloo will help organizations complete critical financial work, such as closing their financial books, more efficiently. The acquisition expands both Gloo’s donor services, which power reach, as well as Gloo 360, which powers tech. It also brings more than 250 new network capability providers into the Gloo ecosystem, creating opportunities to serve them through Gloo’s broader portfolio.

“The pace of change in financial and business services right now is unlike anything this industry has seen. Bringing Cedarstone in as a wholly-owned Gloo Capital Partner gives them the technology infrastructure to deliver more of the work itself, helping them improve outcomes for the organizations they serve, and scale to new customers,” said Scott Beck, Co-Founder and CEO of Gloo. “We also share a powerful common vision. Cedarstone is built to champion the same faith-aligned organizations and ministries that Gloo serves.”

“Joining Gloo gives us access to deep AI leadership and expertise, a network of like-minded partners that offer complimentary products and services, and it means our clients and their missions can benefit from a far deeper set of relationships, tools and services under one roof,” said Tim Barg, CEO at Cedarstone. “David Sveen, Bill Skowera and Kurt Tillman founded Cedarstone with a vision to lift the operational burden off nonprofit leaders so they could focus entirely on their mission, and Gloo shares that same conviction.”

Gloo provides an AI-powered technology platform with a broad range of enterprise solutions and services that connect and empower mission-aligned organizations, service providers and nonprofits. Adding Cedarstone's integrated financial and development outsourced services makes it easier for that entire ecosystem to access back-office support built specifically for mission-driven organizations.

This approach reflects a broader shift in how AI-native companies are built. In a recent analysis, Julien Bek, Partner at Sequoia Capital, noted that, “If you sell the tool, you’re in a race against the model. But if you sell the work, every improvement in the model makes your service faster, cheaper, and harder to compete with. A company might spend $10K a year for QuickBooks and $120K on an accountant to close the books. The next legendary company will just close the books.” By combining Cedarstone's financial and development operations expertise with Gloo's AI platform, Gloo is positioned to deliver on exactly that model, providing mission-driven organizations business outcomes, rather than another software tool to manage themselves.

The acquisition is expected to close during Gloo’s third quarter. Cedarstone will continue to operate under its own brand and leadership as a wholly-owned Gloo Capital Partner.

About Gloo

Gloo (Nasdaq: GLOO) is a leading technology platform serving the faith and flourishing ecosystem. Gloo helps missional organizations amplify their impact by powering their technology and expanding their reach, so that people flourish and organizations thrive. The company’s values-aligned AI platform modernizes systems, workflows and data, while its marketing and donor solutions expand reach, awareness and long-term giving for mission-based organizations. Based in Boulder, Colorado, Gloo serves over 140,000 faith, ministry, and nonprofit leaders.