The Lighter Capital team achieved a big milestone in May—providing funding to more than 100 tech entrepreneurs. We continue to see a growing demand for our revenue-based financing, an alternative to traditional startup financing such as venture capital and angel investment.
In May, we provided funding totaling $1.5M to seven companies—a diverse group of entrepreneurs committed to providing software solutions and solving real-world problems. Two of the companies are existing clients that received additional financing, and five are new to us.
Every day we come to work energized by the opportunity to support and foster the growth of our portfolio companies. We look forward to funding even more companies and getting closer to the 500 new investments our new $100M funding facility will allow us to do.
Below is a summary of the companies we funded in May, and how they plan to use their financing.
ADVIZOR Solutions is a leading provider of easy-to-use business analysis software. From desktop to enterprise, business managers and analysts can easily create and deploy analysis dashboards within minutes. A spinoff from Bell Labs, ADVIZOR Solutions came to us seeking growth capital to expand its sales team and invest in marketing initiatives.
Founded in 2012, Badger Maps offers mobile Sales Route Planning software for field sales reps. Trusted by enterprise brands such as Franklin American Mortgage Company and Kerr, its solution helps more than 1,300 customers to accelerate their sales process and CRM usage. Badger Maps plans to use our funding to hire an additional sales representative.
Cirrus Identity offers solutions that make it easier for universities, big corporations, and global research companies to provide “external” users with access to their online services and research projects. The three-year-old company—which recently completed the four-month business accelerator program at 500 Startups—is using the funding received from us to grow their sales force.
epublishing offers the #1 SaaS content management and eCommerce system for publishers, media businesses, and associations around the globe. Its digital experience platform helps clients increase revenue, reduce costs, and drive engagement. Trusted by large media companies such as HousingWire, NGI, and AHC Media, epublishing plans to use its funding to hire additional sales representatives and attend marketing tradeshows.
This month, we offered the third follow-on financing to locally based Imprev. Imprev came to us initially in July 2015 and, in less than a year, has secured roughly $1M in financing with us. Founded in 2001, Imprev is a leader in marketing automation solutions for real estate professionals. They are scaling and growing with our funding as the demand for real estate products continues to accelerate.