New York, NY – May 24, 2011 –MMV Financial (MMV), a preeminent specialty finance firm serving venture-backed companies in North America, announced today that it has provided $2.5 million in financing to Agilence, Inc. Agilence develops intelligent video analysis solutions that are designed to enable retailers to identify shrink caused by cashier fraud, operational inefficiencies and policy violations that directly impact the profitability of the organization. The additional capital provided by MMV will support Agilence as the leading provider of Intelligent Video Analysis and Profit Improvement Solutions to a growing global base of clients.
“This financing will enable us to invest further in the development of our POS video auditing solution and our service infrastructure,” stated Russ Hawkins, President and CEO of Agilence, Inc. “It validates the extraordinary growth we’ve experienced and the success we’ve had in enabling retailers to quickly pinpoint the margin-robbing activities taking a cut at their profitability.”
Agilence develops Hawkeye, the industry leading POS video auditing solution that efficiently identifies store-wide losses at the point-of-sale before they can erode profit margins. Hawkeye’s core, patented technology marries every single button push and item scan at the point-of-sale with existing video infrastructure. The technology forms the foundation of a powerful query and reporting tool that enables the different departments in an organization to identify the margin robbing activities that result in the loss of millions of dollars every year.
“Agilence has truly set the bar when it comes to intelligent video analysis solutions and their comprehensive profit improvement solution is unlike any other tool on the market,” said Ron Patterson, Executive Vice President, MMV Financial. “We are pleased to grow a relationship with Agilence and look forward to providing continued support”.
About Agilence, Inc.
Agilence develops Hawkeye, an industry leading POS video auditing solution that enables retailers to quickly identify losses caused by operational errors, promotion execution, systemic errors, and associate fraud. Hawkeye efficiently identifies store-wide losses at the point-of-sale before they can erode profit margins and provides retailers with a 6-to-1 ROI in less than 12 months. Founded in 2006, Agilence, Inc. is headquartered in Camden, N.J. To learn more about Agilence, Inc., please visit http://www.agilenceinc.com or call 866-710-3792.
About MMV Financial
MMV Financial provides creative debt solutions that empower growth for venture-backed technology and life sciences companies across North America. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners, Caisse de dépôt et placement du Québec, Fonds de Solidarité des Travailleurs du Québec, HSBC Bank Canada, ROI Capital and Wells Fargo Company. For more information, please visit www.mmvf.com.
Executive Vice President