TANGO ANNOUNCES GROWTH INVESTMENT FROM BERKSHIRE PARTNERS
Tango, a leading provider of cloud-based store lifecycle management and integrated workplace management software, today announced it has secured an equity investment from Berkshire Partners. The funding will help extend Tango’s leadership position in the market and accelerate both U.S. and international growth. Tango’s Founder, President, and Chief Executive Officer
Pranav Tyagi, the Tango management team, and Frontier Growth will all continue to hold stakes in the company. Additional terms of the transaction were not disclosed.
Combining leading-edge technology, adaptability, constant innovation, and simplicity, Tango’s real estate and facilities solutions are built for today’s evolving realities. With market-leading capabilities across predictive analytics, transactions, projects, lease, space, reservations, and maintenance—delivered in a true-multi-tenant cloud architecture with a single code base—Tango is poised for continued growth in today’s dynamic property tech marketplace. The company has partnered with more than 1,000 leading brands, and its cloud-based SaaS and mobile solution is used across 140 countries by companies ranging from those with a few dozen locations to large global brands with more than 40,000 locations.
“Today is a milestone moment in the evolution of Tango,” said Mr. Tyagi. “In addition to their experience in investing across the technology and software ecosystems, the Berkshire team has helped companies accelerate growth strategies to the benefit of all stakeholders. This capital will play a pivotal role in unlocking the next chapter of our growth story as we seek to take Tango to the next level. We’re honored to welcome Berkshire as an investor and look forward to benefiting from the insights of their investment and portfolio support professionals.”
“In a post-COVID world, active management of real estate and facilities is more important than ever, and companies require solutions to help them stay in sync with a dynamic environment,” said Jon Nuger, Principal at Berkshire Partners. “Given Tango’s market position and the unique solutions it provides to an array of blue-chip customers around the world, we view Tango to be a disruptive innovator that has significant potential to drive further value. We are excited to partner with Pranav and the entire Tango team to support the company’s continued commitment to product innovation and sustained growth in its dynamically evolving market.”
“We invested in Tango because of its unparalleled understanding of the market, innovative approach to developing and delivering industry-leading solutions and services, incredible roster of clients, and strong team of industry experts,” said Andrew Lindner, Co-Founder and Partner at Frontier Growth. “We have tremendous confidence in Tango’s team and products, and we look forward to continuing our partnership and supporting its next stage of growth.”
Shea & Company, LLC served as exclusive financial advisor and Reed Smith LLP served as legal advisor to Tango on the transaction. Ropes & Gray LLP served as legal advisor to Berkshire Partners.
Founded in 2008 and based in Dallas, Tango is a leading provider of cloud-based store lifecycle management and integrated workplace management software. Tango offers an end-to-end solution encompassing site selection, project management, lease administration & accounting, facilities maintenance, and space management. Tango currently serves more than 150 customers across the financial services, retail/restaurant, healthcare, high tech, and manufacturing end markets. For additional information, visit www.tangoanalytics.com.
About Berkshire Partners
Berkshire Partners, a Boston-based firm, has 35 years of investment history. Berkshire Private Equity has made more than 135 private equity investments since its inception and has a strong history of partnering with management teams to grow the companies in which it invests. Example technology investments include Accela, AHEAD, Asurion, Comlinkdata, Curriculum Associates, and UPSTACK. In addition to technology companies, the firm also invests in consumer, communications, healthcare, industrials, and services companies. For additional information, and to see a full list of the firm’s private equity investments, visit www.berkshirepartners.com.
About Frontier Growth
Frontier Growth provides support for growth – both investment capital and operational expertise – exclusively for software companies with $5-$30 million in revenue. Frontier was founded with an intentional culture to put People Before Numbers, because it is people who lead to real growth. With over 20 years of experience, over $1.5B in AUM, and actively investing its 5th fund, Frontier respects that each of its companies represents someone’s life’s work and helps them grow without stifling the innovation that’s made them successful.