NEW YORK, NY – March 21, 2013 – SaaS Capital, the pioneer provider of alternative growth financing for SaaS businesses, today announced that it has provided a $2 million line-of-credit to LiquidPlanner.
Based in Seattle, WA, LiquidPlanner is the developer of the industry’s only priority-based, predictive online project management solution. Featuring team collaboration, time tracking, and analytics, LiquidPlanner offers a fast, streamlined alternative to Microsoft Project and can be used by just about anyone – traditionally-trained project teams, agile teams, or even teams that use ad-hoc processes. Founded in 2007, today LiquidPlanner serves over 1400 corporate customers in more than 50 countries worldwide.
“SaaS Capital brought the right kind of financing to the table for our company at this point in our lifecycle,” commented Liz Pearce, CEO of LiquidPlanner. “We were fortunate to have a number of financing alternatives, but at the end of the day, 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 to support continued investments in our growing business.”
“It’s great to welcome a company like LiquidPlanner to the SaaS Capital portfolio,” said Todd Gardner, CEO of SaaS Capital. “Their team is very strong, and they have built great momentum in their business. Their enthusiasm for serving customers and delivering a great product bodes well for their continued success. We are pleased to have the opportunity to support their growth.”
About SaaS Capital
SaaS Capital is the leading provider of alternative growth capital for SaaS companies. Our financing – structured as a line-of-credit that is tied to a SaaS company’s recurring revenue stream – leverages the unique cash flow needs of SaaS, functions as a long-term stable source of capital, and potentially eliminates the need for equity financing. 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.
LiquidPlanner is the industry’s only priority-based, predictive project management solution designed to execute millions of schedule calibrations over the course of a project. Through automated scheduling and integrated collaboration, LiquidPlanner radically simplifies the way people approach project management. It utilizes a cutting-edge scheduling engine to crunch tens of thousands of data points behind the scenes, allowing for real-time, statistically accurate schedules across entire portfolios of projects. The result is a solution that allows teams to handle the real complexities of today’s workplace and offers managers deeper, more accurate insights into their projects, automatically conducting analysis that would otherwise take project management teams weeks to accomplish manually. For more information go to www.liquidplanner.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.