Cross Atlantic Capital Partners has invested in Sagence Group. Financial terms weren’t disclosed. Sagence is a management consulting firm.
Cross Atlantic Capital Partners announced today that it led the Series A financing round for Sagence Group, a management consulting firm focused on providing data strategy, management and analytics services to companies in Financial Services, Insurance, Healthcare, Consumer Services and Consumer Products industries. Terms of the deal were not disclosed.
In addition to providing working capital, the investment will enable the company to expand sales and marketing and hire additional professional services staff.
“We believe that Sagence Group is unique in its ability to help its clients use their information assets in a strategic manner, due in large part to the management’s extensive experience in IT-focused management consulting, combined with its focus on data management and analytics,” said Don Caldwell, founder and CEO of Cross Atlantic Capital Partners. “The management team is comprised of seasoned entrepreneurs who have co-founded successful companies. They know how to attract and service clients, build long-term relationships, and grow a successful consulting firm.”
Sagence Group was founded by Bruce Quade and Alan Matsumura, both founding partners of Diamond Management & Technology Consultants, a successful management consulting firm that was acquired by PricewaterhouseCoopers for $378 million in 2010. Ten of Sagence’s current eleven partners were partners at Diamond, and three of which were founding partners.
Research firm Gartner Group estimates that the Data Analytics market represents $1.65 billion annually, and predicts explosive growth for the industry as the amount of data produced grows tenfold or more in the next 8-10 years. Gartner’s research also shows that Data Analytics has been cited as a ‘top five’ priority by CIOs over the last three years.
Commensurate with the funding, Cross Atlantic will name Donald Caldwell to the Board of Directors.
About Cross Atlantic Capital Partners
Based in Radnor, Pa., Cross Atlantic Capital Partners (“XACP”) is one of the leading venture capital firms based in the mid-Atlantic region, with over $500 million under management. XACP invests primarily in technology companies in the United States, Ireland, and the United Kingdom. Leveraging its deep, multi-disciplined network of global contacts, and the operational experience of its investment team, the firm actively assists its entrepreneurs and portfolio companies. The XACP portfolio currently includes a diverse array of companies focusing on Enterprise Software, SaaS, IT Services, Telecommunications, Financial Services, and other innovative technologies. http://www.xacp.com/