NEW YORK, NY – March 6, 2014 – SaaS Capital, the largest provider of alternative financing to SaaS businesses, announced today that it has provided a $5.0 million line-of-credit to Central Desktop. Based in Pasadena, CA, Central Desktop is the recognized leader in cloud-based collaboration for the marketers’ ecosystem. Central Desktop will use this financing to accelerate time-to-market for major enterprise-scale product innovations and invest in further growth.
“We focus on SaaS businesses that have a clear addressable market and a superior product serving the needs of that market. Central Desktop fits that profile with their workflow and collaboration products specifically tailored to meet the needs of corporate marketers and their agencies,” comments Todd Gardner, CEO of SaaS Capital. “The Central Desktop team are also veterans when it comes to efficiently capitalizing their business, so I am pleased they recognized the unique value that our structure provides a growing SaaS business. We look forward to working with their team.”
Central Desktop helps people work together in ways they never imagined possible. Its SocialBridge collaboration platform connects people and information in the cloud, making it possible for marketers and agencies to predictably create and manage successful campaigns by sharing files and knowledge, inspiring ideas, streamlining creative and operational processes and more. Central Desktop recently celebrated another successive year of record growth due to its deep knowledge of the marketers’ ecosystem, marketer-specific product advances and award-winning customer service. Central Desktop currently serves more than half a million users worldwide.
“SaaS Capital offered us the right mix of availability, structure and market expertise to help us bring aggressive product advancements to the market in a timely manner,” comments Isaac Garcia, CEO of Central Desktop. “We have successfully used a mix of equity and debt financing to drive our growth to date, including 70% year-over-year growth for our flagship product in 2013. This most recent financing from SaaS Capital will enable us to further accelerate that pace and expand our product reach.”
About SaaS Capital
Founded in 2006, SaaS Capital is the pioneer provider of debt-based growth capital for SaaS companies. By leveraging the predictable revenue streams of the SaaS business model, SaaS Capital allows companies to use debt instead of equity to fund investments in sales, marketing, and new product development. SaaS Capital’s line-of-credit approach combines more availability and longer terms, with more flexible drawdown and repayment, versus other lenders in the market. Through its partnership with DH Capital, SaaS Capital can also assist with a variety of M&A and capital raising advisory services. To learn more about SaaS Capital, visit www.saas-capital.com.
About Central Desktop
Central Desktop helps people work together in ways they never imagined possible. Our SocialBridge online collaboration platform connects people and information in the cloud, making it possible to share files, combine knowledge, inspire ideas, manage projects and more. Central Desktop serves more than half a million users worldwide. Key Central Desktop customers include CBS, MLB.com, Harvard University, the Humane Society of the United States, Javelin Marketing Group, Upshot, Engauge, WD-40 and Workday. Founded in 2005, Central Desktop is a privately-held company with headquarters in Pasadena, California. For more information, visit www.centraldesktop.com.
We were fortunate to have a number of financing alternatives, but in the end, the availability of the SaaS Capital line, coupled with the ability to draw down cash only when we need it, made SaaS Capital the obvious choice.