Tampa-founded IT services giant AgileThought Inc., which is planning to go into the private market, has entered a partnership with local product management software firm Iteright.
“As a small company, partnering with a large publicly traded firm gives us significant credibility of our product and capabilities,” Iteright CEO Alex Brodsky said. “In Tampa, companies like us can work with giants. You can’t find that elsewhere.”
Iteright analyzes different market insights, helping companies identify new potential revenue-earning opportunities and accelerate deals.
Brodsky said talks of a partnership with AgileThought initiated three months ago, before the deal was secured last week.
“Alex and I used to work together years ago on web development teams with prior employers,” recalled Ned Pope, a senior consultant of head of product strategy and practice at AgileThought.
“We struggled with similar things on the translation side. We worked with teams of highly qualified people, but when it came down to the business side communicating with the tech teams, there wasn’t enough time for them to properly work together to solve the nuisances of a new product or function,” Pope said.
Years later, Pope and Brodsky reconnected at a Synapse Summit, an annual event bringing together tech experts in Tampa. Pope serves on the board of the Synapse nonprofit organization.
“I help companies align their product or integration with the tech team and we were presenting charts, slide decks and manual labor-intensive projects that Iteright was already doing with web-based tooling. When I saw the way Iteright streamlined the data and communication workflow and product delivery, we interacted. [Brodsky] gave me a free trial.”
Iteright is a member of Embarc Collective, a startup incubator hub in downtown Tampa. Brodsky works out of Embarc while his seven-person team is remote. The company is currently raising a pre-seed round.
Iteright’s clients include car manufacturer Toyota Motor Corp., retailer Ashley Home Stores and global measurement and data analytics company Nielsen Holdings.
AgileThought recently announced a financial restructuring deal with Blue Torch Finance LLC – a deal that would take AgileThought off the public market through a go-private transaction.
Currently based in Texas, AgileThought had an initial market value of $491 million when it went public through a special purpose acquisition company (SPAC) – LIV Capital Acquisition Corp. – in 2021.
In late August, AgileThought filed for Chapter 11 bankruptcy, allowing the company to stay in business while restructuring.