Dick Abbott Retires From The Edge Software, Paving Way for New Leadership and Investment

Dick Abbott, the visionary founder of The Edge, a leading retail management software company for independent jewelers, has announced his retirement. After nearly two decades at the helm since founding the company in 2004, Abbott is stepping down, handing over the reins to new CEO Josh Brenner. The transition coincides with a significant new partnership between The Edge and Serent Capital, an investment firm specializing in growing founder-led B2B SaaS companies.

A Legacy Built on Industry Insight

Abbott, who first entered the jewelry industry in 1976, began developing software to solve the operational challenges he encountered in his own jewelry store. This hands-on experience shaped The Edge into an all-in-one platform designed specifically for independent jewelers, offering solutions for point of sale, inventory management, customer relationship management, and reporting.

Reflecting on his career, Abbott described his work with The Edge as a ‘labor of love’. “Serving our customers and the broader jewelry community has truly been a labor of love,” Abbott stated. “As I decided to retire, I wanted to make sure The Edge was in the right hands. I believe we have found that in Josh and Serent Capital as the company enters its next chapter.”

Abbott’s entrepreneurial journey began long before The Edge. With a background in computer programming dating back to the 1960s, he developed software for various industries, including banking. His entry into jewelry was somewhat serendipitous in 1976, leading him to open his own store. The insights gained from running his business and observing its inefficiencies spurred him to create custom software. His initial system, sold under Integrated Business Systems Inc. (later IBIS), proved highly successful, selling 1,100 copies.

Abbott founded The Edge in 2002, launching sales in 2004 after navigating a lawsuit that temporarily set back his progress. The software quickly gained traction, growing from $500,000 in sales in its first year to $1 million the following year, and continuing its upward trajectory.

New Leadership and Strategic Investment

Josh Brenner will succeed Abbott as CEO. Brenner brings a wealth of experience in leading and scaling software businesses, particularly those focused on vertical SaaS and serving small and mid-sized businesses. His most recent role was CEO of Hired, a human resources tech firm.

“The Edge is mission-critical to thousands of jewelry retailers,” said Brenner. “My focus is to invest in the platform to better support how customers grow and run their businesses.”

The partnership with Serent Capital is expected to fuel product innovation and expand The Edge’s capabilities. Serent Capital has a history of partnering with over 100 founder-led software companies. Dexter Hopen, a partner at Serent Capital, expressed enthusiasm for the collaboration. “The company has earned lasting trust with independent jewelers by building around the day-to-day needs of their businesses, and we look forward to supporting the company’s next phase of growth,” Hopen commented.

The Future of The Edge

While Abbott expressed some apprehension about the rapid advancements in Artificial Intelligence, stating it “scares the s—t out of me,” he believes the new leadership and investment will enable The Edge to leverage these technologies. “I believe the folks that bought The Edge will be able to apply AI in a way that I never could,” he said.

Abbott’s advice to independent jewelers is to fully embrace and utilize technology. “Business isn’t going to get any easier, and the only answer is for the owner to get better,” he urged. “The independents who know what they’re doing will thrive.”

For current users, the transition promises continuity. The partnership with Serent Capital is intended to support the existing team and product while accelerating innovation and enhancing the services offered to The Edge’s loyal customer base. The financial terms of the transaction were not disclosed.