Radfords has secured an investment from Arcadea Group, a long-term and growth-oriented SaaS investor.
The investment sees Phil Radford, founder, move into a board role, while CEO Adam Cuming will retain his leadership role. Founded in 1989 by Phil Radford, the company has become a software supplier to produce sectors including kiwifruit, avocados, cherries, citrus, apples and vegetables.
The investment will facilitate international expansion to meet global demand for Radfords’ software suite.
According to Cuming, Arcadea gives Radfords the opportunity to elevate its products and services and meet the fresh produce sector’s demand for a digital partner that can assist value chains from farm to supermarket.
Radford said partnering with Arcadea was a “clear decision” due to its global growth vision and established presence in Radfords’ core growth regions.
Paul Yancich, CEO of Arcadea Group, said Radfords met the mix of criteria the company has for its investors: customer-centric, mission-critical products and unassailable market leadership and knowledge.
“Radford’s customers can have confidence in Radford’s long-term growth and financial health. Arcadea is building aggressively in the agtech sector, with more exciting developments to share soon; we are pleased to announce our entry into the market in partnership with Radfords,” said Nelson Ball, Vice President of Arcadea Group.
This is Arcadea’s second investment in New Zealand and third in the Australasia region, according to Daniel Eisen, CEO of Arcadea.
