NEW YORK, NY – August 20, 2013– SaaS Capital, the leading provider of alternative growth financing for SaaS businesses, today announced that it has provided a $2.0 million line-of-credit to imATHLETE.
Based in Santa Monica, CA, imATHLETE is at the forefront of event management technology solutions for the amateur athletic industry. By blending their industry leading race registration platform with charitable fundraising, e-commerce and social networking solutions, imATHLETE is changing the way individuals, race directors and sports organizations promote and engage in healthy lifestyles.
“imATHLETE’s success has always been driven by innovation and a relentless desire to solve our customers’ unique needs,” commented Jeff Matlow, CEO & Founder of imATHLETE. “We share these same qualities with SaaS Capital. Their structure provides us with the flexibility and efficiency we need to accelerate our growth and reduce unnecessary costs. We couldn’t be more excited to have SaaS Capital as a partner.”
“SaaS Capital is happy to welcome Jeff and his team to the growing list of SaaS companies we are fortunate to work with,” said Todd Gardner, CEO of SaaS Capital. “ImATHLETE has the marketplace traction and unique value proposition that makes them an ideal candidate for our products. We look forward to supporting their continued growth.”
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.
Launched in 2008, imATHLETE is changing the way individuals, race directors, and companies promote and engage in healthy lifestyles. Providing race registration and fundraising tools, product merchandising and social networking, imATHLETE’s robust technology platform is used by thousands of city governments, governing bodies, non-profits and event organizers, including LA Marathon, Twin Cities Marathon, J&A Racing, M3S Sports, City of Philadelphia, XTERRA Events and a multitude of non-profit and sports organizations. imATHLETE, a subsidiary of I AM ATHLETE, LLC, is headquartered in Santa Monica, California and is privately held. For more information, visit www.imathelete.com.
They are a flexible, non-dilutive option and they really understand the needs of a SaaS business. Due to their extensive reach and best practices insight from other SaaS companies, SaaS Capital also adds significant value to Updox beyond just capital.