Account onboarding specialist Agreement Express received its second round of funding today. The growth equity investment comes from Frontier Capital, which pulled the funds from its $700 million Frontier Fund V closed in 2017. The amount of today’s round was undisclosed, but boosts the Canada-based company’s funding over its previous $1 million raised.
The funds are aimed to help Agreement Express accelerate growth by expanding sales and marketing efforts, hiring more employees, and bolstering technological innovation efforts. As part of the deal, Richard Maclean, co-founder and managing partner at Frontier, along with Frontier’s Managing Partner and Vice President, Dave Pandullo, will join the Agreement Express board.
In a statement, Agreement Express CEO Mike Gardner highlighted on the company’s growth since it was founded in 2001, attributing it to the company’s replacement of complexity with simplicity. “We feel the optimal time has come to take Agreement Express to the next level, and are excited to work with the talented and well-respected team at Frontier as our partner in the next phase of our journey as a growth company. We believe their experience helping transition SaaS businesses such as ours into market leaders will help us propel our innovation and enhance value to our customers in their race to digital sustainability, differentiation, and enhanced profitability, ” Gardner said.
Agreement Express helps financial services companies create and manage a consistent onboarding experience across channels, as well as leverage consumer data to create a personalized user experience. At FinovateFall 2016, the company debuted the newest version of its wealth management offering, an onboarding solution that helps advisers interact with clients in a nonintrusive, compliant manner. Among the company’s clients are National Bank of Canada, Questrade, and M&T Bank.