RIA ADVISORY ANNOUNCES STRATEGIC INVESTMENT BY AVANCE INVESTMENT MANAGEMENT

CORAL GABLES, Fla. – August 29, 2022— RIA Advisory (“RIA”), a premier provider of revenue management solutions, today announced that Avance Investment Management (“Avance”), a private equity firm that invests in founder-owned, middle market businesses in the services, technology and consumer sectors, has made a strategic investment in the company. Financial terms of the transaction were not disclosed.

Founded in late 2016 with the goal of transforming revenue management for large and mid-size enterprises, RIA has established itself as the leading partner of choice for a wide range of Fortune 100  Companies – including numerous blue chip customers. RIA provides a leading portfolio of diversified offerings, implementing highly scalable Oracle platforms and proprietary differentiated IP and technology to solve the most critical and complex challenges CFOs and financial teams face today.

The investment from Avance will support RIA’s strategy to further diversify its core capabilities and enhance its best-in-class offerings to support the expansion in new verticals to accelerate its growth trajectory. CEO and Founder Saket Pabby and the exceptional RIA management team will continue to lead the business forward as it innovates and expands its footprint and suite of services, support and product offerings.

“Avance’s investment in RIA is a testament to the best-in-class revenue management advisory services and products our team of industry pioneers has built over the last five years,” said Mr. Pabby. “Having known the Avance team for many years, we are confident their operational expertise, technology investing expertise and successful track record of investing in founder-led businesses make them the right partner for RIA as we enter our next phase of growth. We continue to see significant opportunities  for growth and expansion in today’s market and we are excited to work with Avance to build on our  momentum and continue to provide unparalleled support and solutions for clients around the world.”

“Our approach to supporting founder-led businesses by driving expansion and creating value through our STAGETM process is ideally suited to a rapidly growing, entrepreneurial technology business like RIA,”  said John Civantos, Senior Partner of Avance. “With a diverse customer base of global, industry-leading businesses that rely on RIA to drive profitability and enhance critical revenue management systems in hyper-competitive markets, we believe the company is poised for sustainable, international growth. We  are thrilled to work with Saket and the entire RIA team to grow the reach of the company’s offerings  while unlocking long-term value.”

Canaccord Genuity and Jones Day advised RIA, while Avance was advised by Guggenheim Securities and  Greenberg Traurig.

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