BOULDER, Colo.--(BUSINESS WIRE)--Aug 5, 2026--
Gloo (Nasdaq: GLOO), a leading technology platform serving the faith and flourishing ecosystem, today announced a definitive agreement to acquire Cedarstone, an integrated business services firm that provides finance and development outsourcing services to nonprofit organizations.
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The acquisition advances Gloo’s Applied AI strategy by delivering essential business outcomes, not simply the tools, so each improvement in AI can reduce delivery costs and expand margins. By combining Cedarstone’s expertise with Gloo’s AI and agentic technology, Gloo will help organizations complete critical financial work, such as closing their financial books, more efficiently. The acquisition expands both Gloo’s donor services, which power reach, as well as Gloo 360, which powers tech. It also brings more than 250 new network capability providers into the Gloo ecosystem, creating opportunities to serve them through Gloo’s broader portfolio.
“The pace of change in financial and business services right now is unlike anything this industry has seen. Bringing Cedarstone in as a wholly-owned Gloo Capital Partner gives them the technology infrastructure to deliver more of the work itself, helping them improve outcomes for the organizations they serve, and scale to new customers,” said Scott Beck, Co-Founder and CEO of Gloo. “We also share a powerful common vision. Cedarstone is built to champion the same faith-aligned organizations and ministries that Gloo serves.”
“Joining Gloo gives us access to deep AI leadership and expertise, a network of like-minded partners that offer complimentary products and services, and it means our clients and their missions can benefit from a far deeper set of relationships, tools and services under one roof,” said Tim Barg, CEO at Cedarstone. “David Sveen, Bill Skowera and Kurt Tillman founded Cedarstone with a vision to lift the operational burden off nonprofit leaders so they could focus entirely on their mission, and Gloo shares that same conviction.”
Gloo provides an AI-powered technology platform with a broad range of enterprise solutions and services that connect and empower mission-aligned organizations, service providers and nonprofits. Adding Cedarstone's integrated financial and development outsourced services makes it easier for that entire ecosystem to access back-office support built specifically for mission-driven organizations.
This approach reflects a broader shift in how AI-native companies are built. In a recent analysis, Julien Bek, Partner at Sequoia Capital, noted that, “If you sell the tool, you’re in a race against the model. But if you sell the work, every improvement in the model makes your service faster, cheaper, and harder to compete with. A company might spend $10K a year for QuickBooks and $120K on an accountant to close the books. The next legendary company will just close the books.” By combining Cedarstone's financial and development operations expertise with Gloo's AI platform, Gloo is positioned to deliver on exactly that model, providing mission-driven organizations business outcomes, rather than another software tool to manage themselves.
The acquisition is expected to close during Gloo’s third quarter. Cedarstone will continue to operate under its own brand and leadership as a wholly-owned Gloo Capital Partner.
About Gloo
Gloo (Nasdaq: GLOO) is a leading technology platform serving the faith and flourishing ecosystem. Gloo helps missional organizations amplify their impact by powering their technology and expanding their reach, so that people flourish and organizations thrive. The company’s values-aligned AI platform modernizes systems, workflows and data, while its marketing and donor solutions expand reach, awareness and long-term giving for mission-based organizations. Based in Boulder, Colorado, Gloo serves over 140,000 faith, ministry, and nonprofit leaders.
Gloo Announces Definitive Agreement to Acquire Financial and Business Outsourcing Firm Cedarstone
Tensions are rising in Lebanon, while U.S. President Donald Trump says a deal could be reached soon to reopen the Strait of Hormuz.
Here's a look at the latest developments in the Iran war and the wider Middle East on Wednesday. Full coverage can be found here.
For the first time in weeks, Israel's military told residents of an area of Lebanon to evacuate. The military said the warning for the village of Mansouri was in response to what it described as “a blatant violation of the ceasefire” by the Iran-backed Hezbollah militant group.
The military later said it was conducting “precise strikes” in southern Lebanon. Lebanon’s Health Ministry said one person was killed and 12 wounded in an Israeli strike in the town of Tebnine.
The escalation came as Lebanese and Israeli negotiators met in Rome for a second day to discuss implementation of a deal under which Israeli forces are supposed to withdraw from areas they occupy in southern Lebanon in exchange for Hezbollah's disarmament.
A State Department official, speaking on condition of anonymity to discuss the sensitive diplomacy, said the second day of talks ended early “due to events on the ground” but could continue on Thursday.
A shaky ceasefire between Israel and Hezbollah has largely held since June 20. The fighting erupted two days after the Iran war began when Hezbollah fired at Israel.
— Matthew Lee in Washington
Iran said Wednesday it's in the “final stage” of drafting an agreement with Oman over the Strait of Hormuz, and Trump said a deal could be announced this week. That could potentially reopen the critical waterway, ease pressure on the world economy and help bring an end to the war.
But the agreement is likely to be contingent on the United States lifting its blockade on Iran’s ports. The Trump administration has previously ruled out any deal that would cement Iran’s grip over the strait, which would amount to a major loss for the U.S. and a break with global norms.
Iran has insisted on some measure of control over the strait, saying it will not go back to being an open international waterway, as it was before the war.
The Iran-backed Houthi rebels in Yemen said they fired ballistic missiles at two Saudi oil tankers, one in the Red Sea and the other further east, in the Gulf of Aden. They did not provide evidence and there was no immediate comment from Saudi Arabia.
A vessel sailing off Yemen in the Gulf of Aden reported a loud explosion nearby, the British military’s United Kingdom Maritime Trade Operations center said, adding that the crew was safe.
In July, the Houthis announced a blockade of Saudi shipping, putting at risk another key world trade route running through the Bab el-Mandeb strait, which links the Red Sea with the Gulf of Aden.
Saudi Arabia has diverted millions of barrels of oil exports to the Red Sea since the Iran war choked off the Strait of Hormuz, on the other side of the Arabian Peninsula.
The U.S. has lifted sanctions on three Iran-linked companies. A Treasury official said it came after an appeal and was not indicative of any shift in U.S. policy toward the Islamic Republic. The official spoke on condition of anonymity to preview the sanctions.
One company is Fly Baghdad Airlines, sanctioned in January 2024 for allegedly providing assistance to Iran’s Revolutionary Guard and Iran-backed armed groups in Iraq, Syria and Lebanon. Sanctions also were lifted on Iraq Express and another Fly Baghdad-linked firm.
— Fatima Hussein in Washington
A Lebanese man reads a copy of the Quran inside a damaged house in the village of Zawtar al-Gharbieh, south Lebanon, Wednesday, Aug. 5, 2026. (AP Photo/Mohammed Zaatari)
A Lebanese man checks a destroyed house in the village of Zawtar al-Gharbieh, south Lebanon, Wednesday, Aug. 5, 2026. (AP Photo/Mohammed Zaatari)
Israeli military vehicles, left, are seen stationed among homes in the village of Zawtar al-Sharqiyah, occupied by Israeli forces, is seen from the southern village of Zawtar al-Gharbieh, Lebanon, Wednesday, Aug. 5, 2026. (AP Photo/Mohammed Zaatari)
A Lebanese man removes debris from his destroyed house in the village of Zawtar al-Gharbieh, south Lebanon, Wednesday, Aug. 5, 2026. (AP Photo/Mohammed Zaatari)
A Lebanese man points to Hebrew writing left by Israeli soldiers inside his destroyed home in the village of Zawtar al-Gharbieh, southern Lebanon, Wednesday, Aug. 5, 2026.(AP Photo/Mohammed Zaatari)
