Our investment in Flintfox
During the course of Advent’s hold period, Flintfox became the world leader in intelligent pricing software. It is the fastest pricing engine in the world, calculating up to 5,000 prices per second, and works across 130 countries and 7 languages. Flintfox’s software helps businesses calculate and deliver pricing, rebates, claims and deductions in real-time so they can protect margins and maximize revenue. Leading global companies in the retail, consumer goods, manufacturing and wholesale distribution industries trust Flintfox for their pricing and rebate management needs.
The Opportunity
Advent took a stake in Flintfox in 2020 with a vision to scale the business globally. At the time of investment, key priorities included strengthening the executive team, enhancing the global brand profile, expanding connectivity with ERP vendors, and refining the go-to-market strategy. We successfully executed on these initiatives during our investment period. As a result, today Flintfox is recognised as a global leader in price management and execution software, with the majority of software subscription revenue generated in North America and EMEA.
Demonstrated Impact
The Flintfox team, supported by Advent, generated significant shareholder value, highlighted by 160% subscription revenue growth. To help enable that, Advent helped:
- Transition leadership by appointing a new C-suite, including John Moss as CEO, alongside a Chief Revenue Officer, Chief Marketing Officer, Chief Services Delivery Officer, Head of People and Culture, and Chief Financial Officer
- Enhance Flintfox’s brand profile through thought leadership, participation in industry events, and a comprehensive brand refresh
- Expand the total addressable market through product development that enabled integration with the SAP ecosystem, unlocking access to SAP’s enterprise customer base.
- Sell the North American systems integration business, Flintech, in April 2023 to focus solely on Flintfox’s core software offering..
Majority Exit
Enable Global Inc. (‘Enable’), a San Francisco based, tech unicorn which provides rebate and incentive management software, agreed to acquire Flintfox, combining expertise in rebate and pricing management. There are substantial cross-sell opportunities as a result of the transaction. Enable has grown 40x in the last 5 years and is supported by leading growth investors such as Insight Partners, Lightspeed Venture Partners, Norwest Venture Partners, and Menlo Ventures. Advent is a minority shareholder in Enable..
