Private equity firm Frontier Capital’s USD390 million Frontier Fund IV has made a USD30 million growth investment in Tango, a Dallas-based software-as-a-service (SaaS) consulting and managed services business.
“Tango has served as the trusted advisor for more than 120 retail brands, and its Intelligent Store Lifecycle Management solution is used by many of the world’s leading retail and restaurant enterprises, including Yum! Brands, Inc, Dunkin’ Brands Group, Inc, Big Lots, Inc, Lane Bryant and Tractor Supply Company,” says Andrew Lindner (pictured), managing partner, Frontier Capital. “Tango has earned a solid reputation by transforming how retail and restaurant companies manage their real estate and store development processes through their extensive strategy and consulting work, as well as their innovative Intelligent Store Lifecycle management software. We look forward to working with the Tango leadership team to further develop its offering to bring a fully integrated suite of solutions to market.”
Founded in 2008, Tango realised 375 per cent growth from 2009-2013 and was ranked 260 on Deloitte’s 2014 Technology Fast 500. Tango provides the world’s largest retail and restaurant companies with innovative software solutions and consulting services to help them plan, develop and manage their real estate and store development activities. Tango’s cloud-based SaaS solution and Intelligent store lifecycle management product brings together customer and location predictive analytics with global information systems (GIS) and store development execution to help companies see and analyse all the available opportunities, pick the right sites and open them faster.
“Frontier Capital is known for helping technology companies like Tango with both the financial resources and strategic planning necessary to grow their business to the next level,” says Pranav Tyagi, Tango co-founder and CEO. “We already feel confident that this investment will solidify a productive and beneficial relationship for both companies as we work together to bring retailers even more intelligent store lifecycle management capabilities.”