Sageworks
| Company type | Private |
|---|---|
| Industry | Financial information, software |
| Founded | 1998 |
| Founder | Brian Hamilton, Sarah Tourville |
| Fate | Acquired by Banker's Toolbox in 2018; products consolidated under Abrigo brand |
| Headquarters | Raleigh , United States |
Key people | Brian Hamilton (co-founder and chairman), Scott Ogle (CEO) |
| Products | Financial analysis and risk management software solutions, ProfitCents, LoanSage, Sageworks Bank Information, CFO platform, CashSage |
Sageworks was a privately held financial information firm based in Raleigh, North Carolina. Established in 1998 by Brian Hamilton and Sarah Tourville, the company specialized in delivering financial analysis and risk management software solutions, mainly targeting commercial lending institutions. It compiled financial data from private companies through collaborations with leading accounting firms and published "private company indicator" reports that evaluated performance across various market sectors. Key leadership included co-founder and chairman Brian Hamilton alongside CEO Scott Ogle.
History
Founded in Raleigh in 1998 by entrepreneur Brian Hamilton and software developer Sarah Tourville, Sageworks created the Financial Information into Narrative Data (FIND) technology, which underpinned its ProfitCents product. Early clients consisted of CitiBank and Intuit, although the company initially encountered difficulties in marketing its offerings.
By 2014, Sageworks had amassed financial data from nearly 240,000 private enterprises dating back to 2001, including multi-year financial statements for over 99,000 firms. This information was anonymized and aggregated by industry sector and geographic location for use by commercial customers, with an emphasis on larger private companies. The firm also maintained comparative datasets on publicly traded companies.
In January 2004, Sageworks licensed its ProfitCents public-facing product to LexisNexis, transforming SEC filings into accessible plain-English reports.
Scott Ogle took over as CEO in 2013. The following year, Sageworks introduced LoanSage, a platform enabling small businesses to obtain loans up to $2 million within a single day. Additionally, 2014 saw the launch of Sageworks Bank Information, a cloud-based service containing data on approximately 6,000 U.S. banks and 7,000 credit unions, along with the CFO platform offering financial analytics, benchmarking capabilities, valuation tools, and industry insights tailored for financial executives.
In November 2016, the company rolled out a lending platform designed to facilitate financing for small and medium-sized enterprises. By June 2017, it had released CashSage, a tool focused on cash flow analysis.
Sageworks was acquired by Banker's Toolbox in 2018, after which its products were consolidated under the Abrigo brand.
Uses
The data provided by Sageworks has supported academic research by enabling economic analysis using private company information—a significant expansion beyond the limited data available from roughly 4,000 public companies. Scholars affiliated with New York University and Harvard Business School emphasize the value of Sageworks’ dataset due to its immunity from survivor bias and other selection distortions.
The company also produces the "Sageworks Private Company Indicator," which monitors sales growth and profit margins among private firms. Furthermore, it publishes aggregated profitability statistics across various industries that assist in identifying market trends and guiding business strategies.
Acquisition
In 2018, private equity firm Accel-KKR purchased Sageworks for an undisclosed amount and integrated it into the Banker's Toolbox suite of products. By 2019, Banker's Toolbox retired the Sageworks brand name and rebranded itself as Abrigo to reflect its broadened range of financial software solutions.
Inmates to Entrepreneurs
Co-founder Brian Hamilton initiated the Inmates to Entrepreneurs program in 2008 with the goal of motivating incarcerated individuals to launch businesses. Drawing upon Hamilton’s small business seminar curriculum, the program covers essential topics such as marketing, sales, customer relations, accounting, finance, and human resources. Participants create informal business plans and receive mentorship aimed at fostering their entrepreneurial success.