Pioneer of Credit Facilities to SaaS Companies Continues Successful Strategy
SaaS Capital, the leading provider of growth debt to software-as-a-service (SaaS) companies, announced that it has closed its fourth fund with $128 million in limited partner commitments. This fund follows its successful predecessors in pursuing a highly focused strategy, solely serving growth-stage, private, B2B software companies looking for an alternative to dilutive equity capital.
“The stage of growth from $1 million to $20 million in annual recurring revenue is incredibly value-creating for founders and shareholders of SaaS companies,” says Rob Belcher, managing director. “SaaS Capital’s recurring revenue-based credit facilities provide access to significant and flexible growth capital to companies in this phase, without the need for management to give up equity or control. To date, we have provided over $200 million in growth debt to nearly 100 companies, helping those that have since exited realize over $1.7 billion in value to shareholders. With this new, larger fund, we are poised to support even more companies accelerate growth in an equity-efficient manner.”
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Existing partners Rob Belcher and Steve Jaffee are also pleased to announce the addition of two new managing directors to the company. Columbus-based Stephanie Fortener and Seattle-based Randall Lucas join SaaS Capital with the launch of Fund IV. Mr. Jaffee and Ms. Fortener were previously partners in the successful early-stage SaaS lending platform Dreadnought Capital, which folds under the umbrella of SaaS Capital with this new fund, and Mr. Lucas brings over twenty years of equity investing, alternative lending, and entrepreneurship experience to the team.
“We are sincerely grateful to our amazing Limited Partners, many of whom have supported us for over ten years and in all prior funds,” said Mr. Jaffee. “Their trust in us and our platform is evident in the fact that we surpassed our target amount of $100 million, and even our ‘hard’ cap of $125 million. With the larger fund and team, we are excited to accelerate the SaaS Capital mission.”
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