NEW YORK, NY – July 22, 2013 – SaaS Capital, the leading provider of alternative growth financing for SaaS businesses, today announced that it has provided a $2.5 million line-of-credit to Clinicient.
Based in Portland, OR, Clinicient provides Outpatient Rehabilitation business solutions by offering a combination of integrated physical therapy software, practice management expertise, and physical therapy billing. Clinicient will use this latest funding to drive product development initiatives and expand sales and marketing.
“SaaS Capital offered our team a unique approach that fits our business model,” commented Jim Plymale, CEO of Clinicient. “Over the years we have financed our growth primarily by selling equity. Having grown revenue rapidly and proven our business model, we were looking for innovative financing options to finance continued rapid growth. SaaS Capital’s approach was the right fit at the right time for our business.”
“We are pleased to be able to partner with Clinicient,” said Todd Gardner, CEO of SaaS Capital. “The Company has a strong management team that has built the absolute best product in their market. That is exactly the kind of business we hope to be able to partner with at SaaS Capital.”
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 and of the SaaS business model, SaaS Capital’s debt facilities allow SaaS companies to accelerate future cash-flow streams to fund operations today. SaaS Capital’s products provide more availability than traditional bank financing, and are structured with flexible terms to meet the needs of growing SaaS businesses. 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.
Clinicient physical therapy EMR and practice management software is a fully integrated, web-based system that brings all PT, OT and Speech outpatient information together in one place: a completely paperless workflow to help manage every aspect of patient care and clinic management, from referrals to clinical documentation to operational and financial reports. Clinicient can be customized to meet the specific needs of therapist and practices. Practices may use the system to do their own billing, or use Clinicient’s physical therapy billing service, and get the EMR software for free. Clinicient is headquartered in Portland, Oregon. For more information visit www.clinicient.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.