Three Carolina Tech Companies Secure a Combined Total of $1 Million in Revenue-Based Financing from Lighter Capital
SEATTLE, Wash. and CHARLOTTE, NC – March 10, 2014 – Lighter Capital, a leading pioneer of revenue-based financing, today announced that it has provided a combined total of $1 million in growth funding to three Carolina-based tech businesses, including CloudBilt (Charlotte, NC), Resident Research (Charlotte, NC), and SalesReach Software (Hilton Head, SC).
“There are many great emerging tech businesses across North Carolina and South Carolina,” said BJ Lackland, CEO of Lighter Capital. “We are thrilled to have invested in three in four months, and look forward to working with many more companies in the region in the future.”
Lighter Capital provides $50K-$1M in Revenue-Based Financing, an alternative form of financing that fills the funding void left by angels, venture capitalists and banks. The company provides growth capital to software, SaaS, and tech services companies looking to accelerate sales, marketing or product development efforts.
Cloudbilt, Resident Research and SalesReach Software are excellent examples of the types of companies in which Lighter Capital invests.
Cloudbilt is an enterprise app development company that turns data into actionable information. Cloudbilt’s products are developed for the salesforce.com AppExchange and specialize in sales intelligence and adoption, audit and compliance. The company’s MapAnything™ app is the premier provider of geolocation capabilities for salesforce.com.
SalesReach Software also offers enterprise apps on the salesforce.com AppExchange. The company provides vertical market applications, including quoting, commissions management and training, to businesses in Telecom, IT and other industries.
“Lighter Capital has changed the funding paradigm,” said Pete Keane, CEO of SalesReach Software. “They presented me with a set of easy to manage funding options that caused neither a dilution of my ownership or guarantees, personal or otherwise.”
Resident Research provides a complete suite of integrated investigative products that provide residential property managers with credit, criminal, and eviction records, as well as employment and education verification, on prospective tenants.
“We didn’t want the financing process to become a huge distraction to the management of our day-to-day operations,” said David Plank, Founder of Resident Research. “Working with Lighter Capital, we were able to secure financing in about a month – allowing us to spend more time focusing on our core business.”
Lighter Capital is unique because its mission is to be “lighter” on entrepreneurs. The company uses proprietary technology to complete investments in 2-6 weeks through a highly automated process. This increased speed and access to capital allows entrepreneurs to focus on building their businesses instead of raising capital. The company’s Revenue-Based Financing model is tech-entrepreneur friendly. There is no fixed schedule for repayments which are structured to match the ebb and flow of a business. Additionally, there is minimal dilution and no loss of control sometimes associated with venture capital investors – and there are no requirements for personal guarantees or restrictive financial covenants demanded by banks. For more information about Lighter Capital, or to apply for financing, visit www.lightercapital.com.
Lighter Capital is the pioneering leader in founder-friendly, non-dilutive financing. Since 2010, we have provided hundreds of millions in funding to over 500 US, Canadian, and Australian tech companies. Founders achieve success on their terms with our tech-enabled financing because it has no hidden fees, equity, warrants, or covenant requirements. The application process takes minutes and requires no pitch deck. Beyond financing, our “more than money” benefits provide founders with access to invaluable connections within the Lighter Capital Community, resources, and product discount opportunities. For more information on Lighter Capital, please visit https://www.lightercapital.com. To apply for non-dilutive financing, please go to https://www.lightercapital.com/apply/.
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