FranConnect, a Serent Portfolio Company, Reports Record Growth

FranConnect, a Serent Portfolio Company, Reports Record Growth

January 29, 2020

FranConnect, the leader in franchise management solutions, has reported its strongest year of growth in the company’s 18-year history, including a 60% year-over-year growth in sales and the addition of 160 new brands to the company’s growing client roster. With its 2019 results, FranConnect now supports over 800 franchise brands globally and 148,000 franchisees. Additionally, FranConnect exceeded its prior year earnings by 36% and reported recurring revenue growth of over 24%.

“I am incredibly proud of what our team accomplished in 2019 as part of our multi-year growth plan. It’s a testament to FranConnect’s position as the leading platform for franchise growth and the confidence our partners have in our ability to help their brands succeed and thrive,” said Gabby Wong, CEO of FranConnect. “Over the last several years, we have seen unparalleled consolidation and expansion in the franchise market. As a result, it was imperative for us to put together a multi-year growth plan that not only included significant sales expansion, but also investments in our people, our products, and our customer experience so that we could grow in-kind with our customer’s needs. Our 2019 achievements demonstrate our ability to grow at-scale, achieving record market expansion in a way that shows that we are a long-term provider to the market.”

Since its founding in 2002, FranConnect had achieved double-digit growth year-over-year. This has allowed the company to invest heavily in attracting top talent in franchising, product strategy, technology, and field operations. Over the last three years, FranConnect has doubled its workforce at its U.S. headquarters.

FranConnect’s growth has led to the creation of a new executive role, Chief Product Officer, which was awarded to Jaffrey Ali. Ali previously held the position of FranConnect’s Vice President of Product and Strategy. Ali joined FranConnect in September 2018 and has been instrumental in leading the strategy, development, and go-to-market positioning of the company’s most innovative product initiatives. This includes the upcoming launch of Optimize, set to be released in March.

Additionally, in December, FranConnect hired a new Chief Technology Officer, Andrew Jackson, who brings nearly 30 years of experience in software development, architecture, and engineering to FranConnect’s executive team. Prior to joining FranConnect, Jackson served as Chief Technology Officer of Arterra Mobility, a top-ranked MVNO based in McLean, Virginia.

“Andrew and Jaffrey are incredibly strategic technology leaders and we are fortunate to have them as part of our leadership team to help drive the future of the FranConnect Platform and our company’s growth.”  said Wong. “These additions to FranConnect’s exceptional leadership team, will enable us to support our customers in achieving their greatest potential”.

You can read the full release here.

Serent Capital invests in growing businesses that have developed compelling solutions that address their customers' needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent seeks to help growing businesses thrive. Learn more about our portfolio companies.

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