Agiloft welcomed Eric Laughlin as their new CEO in August. Eric has a legal background and most recently served as global leader of legal managed services for Ernst & Young LLP.

Agiloft founder and previous CEO, Colin Earl, will move into the role of chief technology officer. The search for a new CEO took Colin over a year, but he says it was worth the wait to get the perfect replacement: “Eric not only has a track record of success, growing and leading large global organizations, he has the vision, domain expertise and integrity to lead Agiloft in its next phase of growth and product innovation”.

Alongside the appointment of Eric, Agiloft has also secured a $45 million growth equity investment from FTV Capital – a technology focused investor in companies dealing with enterprise technology and financial services.

Profitable since its inception, Agiloft will use the investment to build on its leadership position in the contract and commerce lifecycle management sector as it increases AI-based product development and expands its presence around the world.

As part of this transaction, FTV Capital's Alex Mason and Abhay Puskoor will join Agiloft's board of directors.

Abhay Puskoor, principal at FTV Capital, said: "with digital transformation moving at the speed it is today, contract management solutions that are well-scoped and executable are mission critical.

"As businesses continue to find new efficiencies and ways to reduce costs, contract management will play a significant role in adoption of automation, and Agiloft's highly configurable no-code platform will enable automation at a fraction of the time and cost of traditional software. We welcome the opportunity to connect Agiloft to the enterprises in our Global Partner Network who will value the measurable ROI that the platform delivers."