Jacksonville-based AutoQuotes is being rolled into a new cloud-software platform and company called Revalize that will be headquartered in Jacksonville.
Global growth private equity firmTA Associatesmade the announcement Tuesday along with Jacksonville officials. TA said the new company's formation would result in creating nearly 100 new jobs over the next six months.
Luminate Capital Partners said it sold AutoQuotes to TA Associates to become part of the new Revalize for an undisclosed amount. AutoQuotes makes supply chain software for the food service equipment and supplies industry.
The newly-formed Revalize will specialize in software that includes product catalogs, payment systems, data and analytics as well as modeling and calculation software.
Jim Contardi, formerly the CEO of AutoQuotes and Avitru, has been named the CEO of Revalize. Mark Friedman, a software operating executive and investor, joins as chairman.
“We are excited to partner with Jim and Mark as we build Revalize into the leading revenue operations software platform for the manufacturing market,” said Hythem El-Nazer, a managing director with TA, in an email sent to WJCT News. “The COVID-19 pandemic accelerated the digital-transformation process that was already underway in manufacturing. We believe that Revalize is well positioned to benefit from this trend.”
Since 1990, @AutoQuotesLLC has called Jacksonville their home. Now, their new parent company @revalize will do the same, bringing more than 100 software and technology jobs to town. Thank you for further cementing our reputation as a leading city for tech businesses. pic.twitter.com/8EAOWvu9xk
— City of Jacksonville (COJ) (@CityofJax) June 29, 2021
Revalize is inheriting a global customer base of more than 8,000 manufacturers, according to its website.
Bill Bortzfield can be reached at bbortzfield@wjct.org, 904-358-6349 or on Twitter at @BortzInJax.
