CINCINNATI, NEW YORK, SEATTLE, July 07, 2016 – SaaS Capital, the leading provider of Committed Credit Facilities to SaaS companies, today announced that it has provided a $6.5 million line of credit to Advisen, the premier technology solutions platform for the property and casualty insurance market.
"The access to $6.5 million in capital is critical to our strategic growth plans," said David Dahlquist, CFO and COO of Advisen. "This new capital allows us to simplify our existing capital structure and provides additional capital to fuel accelerated growth. From our initial meeting, we were impressed by SaaS Capital's ability to understand Advisen's needs as a SaaS business in the insurance technology market. We view SaaS Capital as a partner who will bring new perspectives and insights."
Advisen is the leading provider of data, media, and technology solutions for the property and casualty insurance market. Advisen's proprietary data sets and applications focus on large, specialty risks. Through its Web Connectivity business, Advisen provides messaging services, business consulting, and technical solutions to streamline and automate insurance transactions. Advisen reaches a community of more than 150,000 professionals every day through newsletters, conferences, and webinars.
"The Advisen team is an impressive group, and we are honored they chose to work with SaaS Capital," said Todd Gardner, Founder and Managing Director of SaaS Capital. "Advisen combines proprietary data and technology to bring real, actionable insights to their customers. They are just scratching the surface of what they can ultimately achieve."
Advisen is leading the way to smarter and more efficient risk and insurance communities. Through its information, analytics, ACORD messaging gateway, news, research, and events, Advisen reaches more than 150,000 commercial insurance and risk professionals at 8,000 organizations worldwide. The company was founded in 2000 and is headquartered in New York City, with offices in the US and the UK. Visit www.advisenltd.com to learn more.
About SaaS Capital
SaaS Capital is the leading provider of long-term Committed Credit Facilities to SaaS companies. Focusing exclusively on the SaaS business model, SaaS Capital delivers faster decisions, more capital, and longer commitments. SaaS businesses have used SaaS Capital's Committed Credit Facilities, instead of equity, to finance growth and create hundreds of millions in enterprise value without sacrificing significant ownership or control. Also, through its partnership with DH Capital, a boutique investment banking advisory firm, SaaS Capital can assist with M&A and capital raising services. SaaS Capital has offices in Cincinnati, New York, and Seattle. Visit www.saas-capital.com to learn more.
Although we received several outside funding offers, we knew SaaS Capital was the best fit for us at this stage. Working with SaaS Capital we’re able to avoid both the strict requirements of traditional bank financing and the ownership dilution that comes with an equity investor.
Founder and CEO, Webgility