Business
Runway Growth Capital Announces a Senior Secured Term Loan of $75 Million to VertexOne
Deal Will Equip The Customer Information Systems & Customer Engagement Software Platform With Growth Capital for Acquisitions and Continued Expansion Private
About this update from Runway Growth Finance Corp.
[{"type":"text","content":"Deal Will Equip The Customer Information Systems & Customer Engagement Software Platform With Growth Capital for Acquisitions and Continued Expansion\n Private Equity-Backed Businesses Becoming More Familiar with the Value of Flexible Growth Debt Solutions\n\n\nWOODSIDE, Calif., Feb. 8, 2022 /PRNewswire/ -- Runway Growth Capital LLC (\"Runway\"), a leading provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, today announced the close of a senior secured term loan commitment of $75 million to VertexOne, a recognized leader in SaaS platforms for critical business processes of utilities across North America. \n\n \n \n \n \n \n \n\n \nVertexOne is an example of a private equity-backed company utilizing venture debt to help achieve its growth goals. Runway has been increasingly relied upon by private equity firms to structure flexible debt solutions that enable their portfolio companies to develop their businesses.\n\"As private equity-backed businesses become more familiar with the value of flexible growth debt solutions, they'll find a knowledgeable and ready partner in Runway,\" said Mark Donnelly, Managing Director, Head of Origination at Runway. \"Runway is one of only a few growth lenders who are equipped to underwrite and structure a flexible loan for private equity-backed companies looking to make the most of their growth opportunities.\"\n\"Venture debt provides an efficient source of capital in addition to private equity, to further our mission and reach our market potential,\" said Andrew Jornod, President and CEO of VertexOne. \"From their understanding of our vertical market to how we run our business, Runway's experience and tailored approach gave us confidence that we were well positioned for our growth opportunity.\" \n\"Runway is an ideal partner to VertexOne as the company continues its growth as a leading provider of technology-led SaaS-based solutions to utility customers,\" said Ke Ding of DFW Capital Partners. \"We are excited to welcome Runway as forward-thinking, flexible debt capital partners with an intuitive understanding of technology and VertexOne's strategic market opportunity.\"\nVertexOne is one of the only cloud-based solutions available to energy and utility managers gaining traction, as many of the energy and utility companies who tradi...