CINCINNATI, NEW YORK, SEATTLE, SAN FRANCISCO, July 25, 2017 – SaaS Capital, the leading provider of Committed Credit Facilities to SaaS companies, today announced that it has provided a $2.5 million line of credit to Codility.
"We are delighted to work with SaaS Capital,” said Greg Jakacki, Founder and CEO of Codility. "SaaS Capital's innovative funding instrument will enable Codility to take the full advantage of the market opportunity and accelerate our product investments to better serve tech employers and job seekers."
Codility helps businesses of all sizes automate and accelerate tech recruiting. Using the company's software platform, businesses can dynamically source programmers, assess and rank applicants and, ultimately, conduct interviews with the most promising candidates.
"We are excited to have Codility join the SaaS Capital portfolio," said Rob Belcher, Managing Director of SaaS Capital. "Greg and the company have developed a robust methodology for screening engineering talent, agnostic of programming language. It’s an awesome product and more important now than ever before. We‘re honored to partner in their growth and success."
Codility is the leading Tech Recruiting Platform. The Codility Platform helps businesses efficiently assess and rank technical candidates and identify the most promising hires. The Platform includes hundreds of coding tasks, featuring multiple languages and coding scenarios with varying levels of difficulty. Customers including Citi, DRW, Electronic Arts, Fandom, GE, Grant Street Group, IMC Financial Markets, Indeed, Intel, Kforce, Kik, LiveRamp, SurveyMonkey, Tesla, Uptake and Virtu Financial use Codility to evaluate candidates and efficiently hire programmers. Since its inception in 2009, Codility has completed over 4 million assessments worldwide, in industries spanning consumer technology to financial services. Visit codility.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 of dollars 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.
This line of credit from SaaS Capital offers a flexible platform to accelerate our growth as needed to best serve our top-tier healthcare supplier customers.