CrafterCMS Announces Larger, Second Round of Financing from Lighter Capital
Second investment of revenue-based debt from Lighter Capital will fuel continued rapid and profitable growth.
RESTON, VA AND SEATTLE WA, USA, CrafterCMS, the leading open-source headless CMS for enterprises, announced on March 3, 2022 that it closed on a second institutional round of funding from Lighter Capital, the leading fintech lender of non-dilutive financing to tech startups. CrafterCMS first partnered with Lighter Capital in 2019 with an investment of revenue-based debt, which was paid off ahead of schedule due to CrafterCMS’s faster than anticipated growth and profitable operations. The new, larger second round of capital will fuel continued growth for CrafterCMS.
“CrafterCMS continues to scale to meet growing customer demand, which we’ve seen accelerate as major enterprises and hyper growth startups are looking for a modern content platform on which to build next generation digital experiences,” said Mike Vertal, President and CEO of CrafterCMS. “With growth comes the need for financing, and Lighter Capital has proven to be an ideal partner for us. This second round of capital will allow us to accelerate our expansion plans and do so without any of the ownership dilution of traditional venture capital financing. At the same time, it will foster the discipline to maintain both capital efficiency and a strong balance sheet for the long term, allowing us to focus entirely on driving customer success and nurturing our open source community.”
Focused on helping major enterprises build and operate modern digital experiences, CrafterCMS sells enterprise support and services for its leading open source, API-first and Git-based headless content management platform. Commercial offerings include both self-managed, self-managed on-premises enterprise support, and fully-managed private SaaS/PaaS operations and support. Both offerings are sold as recurring, annual support subscriptions. Very high customer renewal rates, low customer churn and strong upsell and product expansion into many major enterprises on a global basis has driven rapid growth. CrafterCMS’s enterprise customers range from Fortune 500 enterprises to large government agencies to exciting digital native startups -- all running mission critical, highly scalable enterprise websites and various other multi-channel digital experiences that include e-commerce, OTT video, employee intranets, customer portals, interactive voice assistants, AR/VR experiences, among many more.
Lighter Capital is the largest provider of non-dilutive debt capital to startups. It has revolutionized startup financing by making it easy for entrepreneurs to quickly access up to $4 million in non-dilutive growth and working capital through our tech-enabled lending process. With no hidden fees, warrants, or covenants, founders have full control over how to use the funds. Since 2010, Lighter has invested hundreds of millions of dollars of non-dilutive funding to hundreds of companies in the US, Canada and Australia.
"Crafter is an ideal Lighter Capital client,” said Jon Prentice, Investment Director at Lighter Capital. “We look for strong recurring revenue models and capital efficient operators. Mike and his team have built a scaling company. Investment from Lighter allows them to immediately access capital to achieve goals and boost growth without dilution or changing the company’s vision."
CrafterCMS replaces the broken paradigm of traditional content management and enables a new era of fast, agile and easier development of innovative digital experiences that benefits large enterprises and fast-growing startups. As an open-source, API-first and Git-based headless platform, CrafterCMS is amazing for developers, easy for content authors, and fantastic for DevContentOps. Enterprises can choose from support options that include self-hosted/self-managed, fully-managed private SaaS/PaaS in the cloud, and community-supported open source. Learn more about the open source project at https://craftercms.org, and enterprise solutions at https://craftercms.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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