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DTiQ Secures $145M Growth Investment from Bain Capital Credit

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Investment will enable DTiQ to pivot to a higher SaaS growth model, expand its AI-powered, video and data analytics business optimization solutions portfolio, accelerate expansion in new territories, and strengthen its leadership.

FRAMINGHAM, Mass., Oct. 14, 2024 /PRNewswire-PRWeb/ — DTiQ, the leading provider of SaaS-based video, analytics, and optimization solutions for operators within the Restaurant, Convenience Store and Specialty Retail industries, today announced that it has received a $145 million growth investment from Bain Capital’s Private Credit Group (“Bain Capital”). The funding will drive increased innovation in AI and Computer Vision for more actionable business insights and automation, expand its SaaS product offerings, and capture new opportunities in existing and new territories.

“DTiQ has a customer-first, outside-in innovation approach and a cloud-first, mobile forward solution set to help restaurant and retail operators solve everyday problems and grow their businesses, said JL Valente, CEO of DTiQ

DTiQ provides SaaS, video-based, business optimization solutions to the top names in QSR, Retail and C-Store, such as Subway, Dunkin, Burger King, Church’s and others. In 2022, the company expanded its addressable market with the acquisition of Australia-based Summit Innovations providing advanced Drive Thru solutions to customers and delivering ROI-enhancing solutions both inside and now outside their stores. Proving that they recognize the everyday pains of operators in the industries they serve, DTiQ has committed publicly to providing new solutions to address their challenges further including loss prevention, speed of service, peak times, operational and compliance issues, and employee/patron safety. Most recently, DTiQ has broadened its AI-powered portfolio when it rolled out In-Store and Peak Hours Speed of Service capabilities.

“DTiQ has a customer-first, outside-in innovation approach and a cloud-first, mobile forward solution set to help restaurant and retail operators solve everyday problems and grow their businesses, said JL Valente, CEO of DTiQ. “We are thrilled to be able to accelerate our already aggressive product roadmap.”

Today’s announcement with Bain Capital, one of the world’s leading private investment firms, underscores the significance, scale and quality of the DTiQ business, its market momentum, contributions to the hospitality industries and superiority of its portfolio in addressing key business issues for restaurant and convenient stores owners and operators, as well as specialty retailers.

“Our investment in DTiQ is an emblematic of our conviction in this well-established, globally-renowned business and its ability to innovate new AI-enhanced video and data solutions for the benefit of the restaurant and retail industries,” said David Healey, a Director at Bain Capital Credit. “We’re proud to support DTiQ’s exciting growth trajectory with strategic capital and our long track-record of helping SaaS businesses reach their full potential.”

“Given DTIQ’s growth plans, existing solutions, roster of customers and leadership, this investment by Bain Capital is catalytic capital for its future,” said Rick Shrotri, founder and Managing Partner of Digital Alpha Advisors, DTiQ’s Private Equity partner. “We believe DTiQ is posed for profitable growth in 2025 and beyond, and we are pleased to be partnering with Bain Capital on this investment.”

About DTiQ

DTiQ offers state-of-the art SaaS video surveillance, analytics and next gen Drive Thru solutions to improve loss prevention and operational excellence at multi-location Quick Service and Table Service Restaurants, retail, and convenience store locations. With 27 years of experience, DTiQ successfully enhances over 8 million consumer experiences daily, while delivering high ROI outcomes and protecting trillions of dollars in assets. DTiQ works with over 37,000 locations in the Americas, Europe and Australia / NZ, including brands such as Adidas, Burger King, Crocs, Dairy Queen, Dunkin, GNC, McDonald’s, Subway, Swarovski, Taco Bell, Vineyard Vines, and Yankee Candle. For more on information, please visit dtiq.com.

About Bain Capital Credit

Bain Capital Credit (www.baincapitalcredit.com) is a leading global credit specialist with approximately $45 billion in assets under management. Bain Capital Credit invests across the credit spectrum and in credit-related strategies, including leveraged loans, high-yield bonds, structured products, private middle market loans and bespoke capital solutions. Our team of more than 100 investment professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. Bain Capital Credit’s dedicated Private Credit Group focuses on providing complete financing solutions to businesses with EBITDA between $10 million and $150 million located in North America, Europe and Asia Pacific. In addition to credit, Bain Capital invests across asset classes including private equity, public equity, venture capital and real estate, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus.

About Digital Alpha

Digital Alpha Advisors, LLC is an investment firm focused on digital infrastructure and services required by the digital economy with total assets under management of over $1.5B. The firm has a strategic collaboration agreement with Cisco Systems, Inc. As part of this agreement, Digital Alpha has preferred access to Cisco’s pipeline of commercial opportunities requiring equity financing. In addition, Digital Alpha has cultivated strategic partnerships with other Silicon Valley technology leaders, with whom it has already executed deals. Digital Alpha believes that it is the first firm focused on making private equity investments in the significant growth opportunities required to underpin the Digital Economy, including smart cities, next-generation broadband networks, and enterprise data management and communication solutions. Digital Alpha was founded in 2017 by Rick Shrotri, former Head of the Global Infrastructure Funds (GIF) team at Cisco, and closed its latest Fund – Digital Alpha Fund II, LP – in early 2021.

Media Contact

Lisa Harris, DTiQ, 1 720-970-9228, lharris@dtiq.com, https://www.dtiq.com/

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Alcor Achieves Great Place to Work® Certification™ for Fourth Consecutive Year, Honored as Best Workplace for Women!

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SAN FRANCISCO, Oct. 14, 2024 /PRNewswire/ — Alcor Solutions, a leading global provider of cloud solutions and digital transformation services, is proud to announce that it has earned its fourth consecutive Great Place To Work® Certification™ across the US, Canada, and India regions. This certification reflects Alcor’s continuous pursuit of nurturing an empowering work environment that fosters people-centricity, mutual trust, open communication, innovation, and long-term financial stability. It also positions Alcor among the elite organizations where employees feel supported and rewarded for their outstanding work.

“Achieving this prestigious certification for the fourth consecutive year is a monumental milestone for us,” said Amit Singh, Chief Executive Officer at Alcor Solutions, Inc. “This global recognition is not just a testament to our commitment to excellence but a reflection of the dedication and passion of our incredible team. At Alcor, we believe that our people are our greatest asset. This certification underscores our ongoing efforts to create a culture of empowerment where every individual feels valued and inspired to innovate. Together, we will continue to push boundaries, embrace new challenges, and strive for excellence in everything we do.”

The Great Place To Work® Certification™ is a globally accepted “Employer of Choice” recognition that most organizations aspire to achieve. Recognized in over 170 countries and regions, this certification is awarded to companies that prioritize building a high-performance, high-trust culture with positive employee experiences. This research-backed verification also empowers organizations to recruit and retain top talent, elevate productivity, and gain valuable insights into their workplace culture.

“Alcor’s Great Place To Work achievement for four consecutive years across India, Canada, and India underscores our unwavering commitment to creating a positive and inclusive workplace culture. At Alcor, our core values of integrity, collaboration, responsiveness, and quality guide everything we do. These values, along with our exceptional employees and strong leadership, have been instrumental in our success. This recognition is a testament to the dedication and hard work of our global team. We remain committed to supporting our employees’ growth and well-being, and I look forward to continuing this journey together,” said Lisa Clinton, Sr. Director – HR/Operations, Alcor Solutions, Inc.

Alcor is also honored to be recognized as one of India’s Best Workplaces™ for Women in the Mid-Size Company category by the Great Place To Work India team. This recognition places Alcor among the top 100 organizations in India, chosen through a rigorous evaluation process. The company stands out for fostering an equitable culture where women have access to fair opportunities, play a key role in strategic decision-making, and thrive in a collaborative, merit-based environment. Alcor remains dedicated to shaping the future of work by empowering women to grow, lead, and succeed in their careers.

“Women are an integral part of our society, and the same holds true at Alcor. From showcasing exceptional caliber to contributing innovative ideas to excelling in leadership roles, women at Alcor have played a crucial role in driving our organization’s growth. Their positive feedback has affirmed Alcor as one of India’s Best Workplaces for Women. We remain committed to providing equal opportunities and support for women to thrive and succeed,” said Jyoti Chak, HR Manager at Alcor Solutions, Inc.

Alcor’s consistent recognition by the Great Place To Work® Institute across multiple regions emphasizes its global commitment to employee well-being and organizational excellence. The company remains dedicated to nurturing a workplace culture that champions diversity, equality, cutting-edge innovation, and collaborative success.

To know more about Alcor, please visit our website at www.alcortech.com or follow us on LinkedIn, Twitter, and Instagram.

About Alcor 

Founded in 2008, Alcor Solutions, Inc. is a global digital transformation services company serving Fortune 500, Government Agencies, and other leading organizations in multiple industry verticals across the US, Canada, Europe, Japan, and India regions.

Alcor is a ServiceNow® Elite partner and works with various innovative enterprise technologies to deliver solutions and services that help drive digital transformation for businesses. They advise leading businesses on cloud platforms, solution architecture, enterprise service management, and integrated IT service delivery. The company also provides business process consulting to capture, re-engineer, and improve processes that can easily be automated to deliver real value.

Media Contact:
Monisha Singh
information@alcortech.com

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SAFE Credit Union Now Offering Digital Gift Cards from National Retailers

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The move is the latest initiative by SAFE to provide members with top-notch digital banking experiences.

FOLSOM, Calif., Oct. 14, 2024 /PRNewswire-PRWeb/ — To provide an additional benefit to members, not-for-profit SAFE Credit Union now offers a rewards program with cash back from online gift cards purchased for national retailers the likes of Target and Amazon.

“Digital gift cards offer an extra level of purchasing power,” says SAFE Credit Union Chief Technology Officer Mike McCarthy.

SAFE is partnering with New York-based Fintech Prizeout to offer its new Gift Card+ rewards program. The completely digital experience – from purchasing, delivery, and card usage – allows members to easily earn cash back after purchasing digital gift cards for top national brands.

Gift Card+ gift cards can be purchased through SAFE Credit Union’s Online Banking or Mobile App in amounts ranging from $5 to $500 each, with each earning from 2 to 30 percent cash back.

“Our Gift Card+ program supports our promise to increase digital experiences and engagement with our members,” says SAFE Credit Union President and Chief Executive Officer Faye Nabhani. “Providing more ‘ease of use’ to upload these gift cards, and at a savings, for friends and family or to shop for everyday purchases is a prime example of how we are working to help our members build financial freedom.”

The rewards program also offers an opportunity for the credit union to share with its members and consumers the added convenience and security purchasing digital gift cards can often provide.

“Digital gift cards offer an extra level of purchasing power,” says SAFE Credit Union Chief Technology Officer Mike McCarthy. “They come directly into your email, and you can forward them to participants. No more losing a physical card in a drawer somewhere or having yet another piece of plastic to throw away.”

The digital gift cards are sent to SAFE members via email and can be easily opened in the SAFE Mobile App’s Gift Card+ tool, and in some cases can be uploaded into their personal digital wallets.

The cashback rewards can be deposited directly into a SAFE member’s checking or savings accounts or applied toward more gift cards.

A not-for-profit credit union, SAFE shares profits with its members through dividends and low interest loan rates and fees and provides financial education to communities within the 13 counties it serves.

About SAFE

SAFE Credit Union is a not-for-profit, state-chartered credit union in Northern California with over $4.6 billion in assets and more than 236,000 members. Insured by NCUA.

Media Contact

Robyn Eifertsen, SAFE Credit Union, 916-809-7002, robyn.slagle-eifertsen@safecu.org, safecu.org

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SOURCE SAFE Credit Union

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Netwrix Announces CEO Transition: Appointing Grady Summers as CEO

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FRISCO, Texas, Oct. 14, 2024 /PRNewswire/ — Netwrix, a leading cybersecurity provider of solutions that make securing data, identity and infrastructure easier, announced that Grady Summers has been appointed Chief Executive Officer (CEO) effective immediately. Summers succeeds Steve Dickson, who has successfully led the company through record growth during his six-year tenure.

Under Dickson’s leadership, Netwrix achieved significant growth and value creation. Since joining the Netwrix board in 2017 and becoming CEO in 2018, Dickson has expanded the portfolio organically and through twelve acquisitions from one to more than fifteen product families, leading to a 23x growth in annual recurring revenue (ARR). Under Dickson’s leadership, Netwrix expanded the number of organizations that use its products to more than 13,500. In addition, during Dickson’s tenure, Netwrix quadrupled its global headcount with personnel in more than 35 countries. Dickson also led Netwrix through two successful value-creation events. Dickson will remain on the board of directors while devoting his time to strategic investment opportunities.

“It’s been an honor to drive Netwrix’s business forward by hiring and working with a truly amazing and talented group of people. I’m pleased with the progress we have made in terms of expanding our portfolio to help our customers be more secure today than they were yesterday, by growing our commitment to our partners around the globe, and by focusing on future technologies that will be the answer for securing every organization’s sensitive data,” commented Dickson.

Grady Summers brings more than 25 years of product, technology, and business leadership experience to Netwrix. As the Executive Vice President of Products at SailPoint, he helped drive the company’s SaaS transformation, product line expansion, and rapid ARR growth. Before SailPoint, Summers held senior leadership roles at cybersecurity stalwart FireEye / Mandiant. He was previously a Principal at Ernst & Young and the Chief Information Security Officer at General Electric.

“I am thrilled to be joining Netwrix at such an exciting time in its journey,” said Summers. “Steve has done a phenomenal job growing Netwrix from a one-product cybersecurity business focused on audit and compliance into a vibrant and dynamic global provider of cybersecurity solutions. I look forward to building on his legacy and driving Netwrix to the next phase of growth and success.”

Dickson has worked closely with Summers to ensure a smooth transition and will continue to provide strategic guidance through his continued position on the Netwrix board of directors. The company remains committed to ensuring a brighter digital future for any organization with its innovative cybersecurity solutions.

About Netwrix

Netwrix champions cybersecurity to ensure a brighter digital future for any organization. Netwrix’s innovative solutions safeguard data, identities, and infrastructure reducing both the risk and impact of a breach for more than 13,500 organizations across 100+ countries. Netwrix empowers security professionals to face digital threats with confidence by enabling them to identify and protect sensitive data as well as to detect, respond to, and recover from attacks.

For more information, visit www.netwrix.com.

CONTACT:
Erin Jones
Avista PR for Netwrix
P: 704.664.2170
E: pr@netwrix.com

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