Sam Kingsland of Granite Ventures Joins Board of Directors
Camden, NJ — November 18, 2008 — Agilence, Inc., the leading provider of video-based exception reporting solutions for retailers, announced that it has closed a Series B round of funding to support the company's growth initiatives. The round was led by Granite Ventures, a leading San Francisco-based early-stage venture capital firm. Current investor Next Stage Capital of Audubon, PA, also participated.
This round of financing will ensure long-term growth by funding expansion of the company's Agilence On! outsourced video analysis service. Combining the power of its sophisticated HawkEye software with Agilence's professional analyst team, the Agilence On! service reduces retailers' cashier shrink by as much as 80%. The subscription-based service minimizes the time it takes retailers to identify and resolve point-of-sale (POS) shrink cases and improves overall operational effectiveness. Customer data shows that the service often pays for itself in the first few months of deployment.
“We are excited to be partnering with Granite Ventures to expand our business,” said Russ Hawkins, President and CEO of Agilence, Inc. “We'll leverage this round of funding to bring the benefits of our shrink reduction solution to a broader set of customers and to deliver on our Agilence On! promise."
“Agilence's unique solution solves a major problem in a multi-billion dollar market — retail loss due to theft or error,” said Sam Kingsland of Granite Ventures, who will join the Agilence Board. “We were impressed with the quality and experience of the management team and the strong ROI this service can deliver to customers in the retail sector.”
About Agilence
Agilence, Inc. is the leading provider of video based exception reporting solutions for retailers. Agilence and its global network of partners have helped many clients worldwide to reduce cashier shrink, manage their assets more effectively, and improve their business intelligence. For more information about Agilence, please visit www.agilenceinc.com.
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