Happy belated Halloween!
We started the fourth quarter with a strong October- closing seven deals and deployed just shy of $2M. Out of the seven deals, three are existing clients receiving additional funding and four are new clients. Interestingly, all the additional follow-on financing went to local entrepreneurs here in Seattle. As we grow our portfolio, it's great to be a resource to entrepreneurs in the Pacific Northwest. It's becoming a very vibrant startup community.
We’re getting more and more efficient with our loan application and underwriting process and really are committed to delivering our promise of “Capital–as–a-Service.” For the October deals, we closed the new deals in six weeks on average, and out of the existing deals, we closed them is just two weeks on average.
Here’s a quick rundown on some of the deals we closed in October:
Incident Response Technology specializes in public safety software with the primary focus on incident and event pre-planning and management. Their solutions help police and fire departments to prepare for routine and unforeseen events. Based in Greenwood Village
FormAssembly offers a solution that enables small businesses and enterprise companies to build, design, and manage web forms. Users can automate form creation and collect data across the organization while integrating with Salesforce. Serving 3,000+ customers, some of its major enterprise clients include Eli Lilly, Amazon, and Fidelity Investment. FormAssembly helps its clients to implement business processes
DevHub provides a content management platform that allows users to create custom digital experiences through responsive sites and landing pages. It’s a local Seattle company and we’re happy to be providing them with a second loan after their initial tranche in May 2015.
In October we offered the fourth follow-on financing to locally based Imprev. Founded in 2001,
Onehub provides custom-branded secure online file sharing and document collaboration tools for businesses. The SaaS product offering provides storage space for documents and files that can be easily shared within and outside of the business. Within the space, a business can create workspaces or data rooms to enable sharing of only certain files with internal or external collaborators. Onehub is a portfolio company of Ignition Partners.
On a side note, we had a fun Halloween party in the office, celebrating the four deals that we closed that day. Below are some pictures. Enjoy!
Setting up for
The Lighter Capital Team brought handmade goodies to share.
Costume contest- can you guess who won?