Dallas-based evolv Consulting, a full-service management and tech consulting firm, has received a strategic investment from Los Angeles-based growth-oriented private equity firm Interlock Equity.
Interlock said the investment will rapidly and effectively reinforce evolvs’ market presence, extend solutions offerings, deepen evolv’ industry expertise, and broaden the geographic footprint of the data-driven digital and business consulting firm. No details of the investment were released.
Terms of the investment were not disclosed.
“This strategic investment from Interlock represents a significant milestone for evolv. The cultural and philosophical alignment between our firms was clear from the beginning. This partnership will enable an accelerated growth trajectory, while allowing evolv the ability to enhance an already amazing culture as the business scales,” evolv CEO Eric Neef said in a statement.
evolv said it serves enterprise clients by bringing a fresh perspective to navigating the shift to a data-driven business and technology landscape. It specializes in a comprehensive suite of services, including business strategy, data & analytics, and digital transformation.
‘Strong momentum in data and analytics market’
Under the leadership of co-founders Neef and Mike Bogda, evolv recently became an Elite Services Partner in the Snowflake data cloud ecosystem, one of 29 in the nation and one of 43 globally. Interlock is anticipated to bring a blend of expertise and resources, further solidifying evolv’s position as a leader in consulting solutions, the company said.
“Our investment in evolv reflects our confidence in the company’s exceptional client delivery and strong momentum in the data and analytics market,” Rob Zielinski, managing partner at Interlock Equity, said in a statement. “Our collaborative efforts will continue the expansion of services, entry into new markets, and introduce strategic acquisitions—all while reinforcing their commitment to being a relationship-first organization.”
evolv said it will continue to be led by its existing leadership team.
With continued investment in its Snowflake partnership, evolv said it will capitalize on the company’s industry expertise within key market sectors, including healthcare, financial services, telecommunications, and manufacturing.
Greg Fincke, managing director and co-head of Americas at Equiteq, acted as the exclusive financial adviser to evolv Consulting. Troutman Pepper acted as legal counsel.
In connection with the deal, Guggenheim Securities LLC acted as financial adviser and Winston & Strawn LLP acted as legal adviser to Interlock Equity.
Trisha Arnold promoted to chief talent officer at evolv
The investment comes on the heels of evolv announcing that Trisha Arnold was promoted to chief talent officer.
“Since joining our team at evolv, Trisha has consistently demonstrated her extraordinary abilities and commitment to our mission,” Neef said. “As the first female officer in our organization, her leadership, expertise, and unwavering dedication has been instrumental for our rapid growth. We anticipate and look forward to new levels of growth and successful client delivery under her leadership.”
Arnold has been with evolv since 2019 and started her career at evolv as human resources director. Most recently, she served as the managing director of talent operations.
As chief talent officer, Arnold collaborates with senior leaders to proactively identify and address critical talent operation’s needs, while spearheading development and execution of talent initiatives aligned with evolv’s overarching objectives.
Snowflake and evolv growth
Earlier this month, the firm announced achieving “Elite” partner status with Snowflake, enhancing its capabilities in innovative digital transformation and data cloud services. The collaboration allows Evolv to tap the data cloud for the digital transformation of its joint customers.
Snowflake has garnered attention in the tech and business world for its cloud-native data warehousing and cloud data platform that separates compute and storage, allowing users to scale these elements independently. Its ecosystem simplifies many aspects of data storage, processing, and analytics for business dealing with big data.
“Having witnessed firsthand the immense capabilities and exceptional quality of the Snowflake Data Cloud, we confidently recommend it as a game-changing solution,” Neef said.
evolv consulting was No. 368 on the Inc. 5000 in 2023 and was among the 25 highest-ranking companies on the list from the Dallas metro with its 1,572% growth.
Included among its clients are 7-Eleven, Toyota, Vizient, Deloitte, Worldwide Express, March of Dimes, Citi, Supreme Lending, SoFi, and more.
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