Agilence Inc. Revenue & Funding (2023)

Agilence recorded approximately $31 million in annual recurring revenue in 2022, growing 17.3% year over year, according to Russ Hawkins. The host's framing at the time of the August 2023 interview suggested the figure had risen to roughly $35 million, though Hawkins indicated the actual current number was slightly less than the host's back-of-envelope estimate of $37 million derived from 300 customers at $125,000 average contract value.

Agilence had approximately 300 customers as of 2023, spread across retail, restaurant, and grocery segments in the United States and Canada. The average contract value was $125,000 per year, with some customers paying less and three customers approaching but not yet exceeding $1 million in annual spend. Hawkins said he expected all three of those near-million-dollar accounts to cross the $1 million threshold within the following year through expansion sales.

The average Agilence customer operates 600 locations, indicating the platform is oriented toward mid-market to large enterprise chains rather than small businesses. Hawkins noted the company originally focused on the mid-market and has progressively moved upmarket. Pricing varies by customer size and vertical, with differences between grocery, specialty retail, drugstore, convenience store, and restaurant segments. The company does not appear to offer a free tier; all contracts are annual subscriptions.

Agilence operates on an annual SaaS subscription model. At an average contract value of $125,000 per year across roughly 300 customers, the implied ARR is approximately $37.5 million, though Hawkins indicated actual ARR was slightly below that figure, consistent with the $31 million reported for 2022 and a figure somewhat higher at the time of the interview. The derivation is a GetLatka calculation based on figures Hawkins confirmed separately; he did not state the product of those two numbers as a single confirmed figure.

Eighty percent of Agilence customers use the platform for operational analytics beyond its original loss prevention purpose, reflecting significant expansion of use cases since the 2013 pivot. Three customers are close to $1 million in annual spend, and each quota-carrying sales representative carries a target of approximately $1 million in ARR per year. The sales organization totals roughly 10 people, of whom 5 are quota-carrying account executives.

Profitability, gross margin, churn, net revenue retention, CAC, LTV, and burn rate were not discussed in the interview. The post-Cuadrilla capital structure carries a 60/40 equity-to-debt ratio, with Cuadrilla managing the financing details while Hawkins focuses on strategy and operations.

Agilence employed 70 full-time people as of 2023. The engineering team numbered approximately 27 to 28 people. The sales organization comprised roughly 10 people in total, including 5 quota-carrying account executives, business development representatives, technical leads, and solutions architects. A marketing team handles mid-market inbound lead generation. Team composition beyond these figures was not discussed in detail.