NEW YORK, NY – June 3, 2013 – SaaS Capital, the leading provider of alternative growth financing for SaaS businesses, today announced that it has provided a line-of-credit to Monet Software. Based in Los Angeles, Monet Software is a global provider of workforce optimization solutions for small and medium sized contact centers. Along with Liquid Planner and WebLink, Monet becomes the third company in the last 90-days to choose SaaS Capital for debt-based growth financing.
"We are seeing more SaaS companies strategically using debt instead of automatically raising a new Series 'X' of equity," comments Todd Gardner, CEO of SaaS Capital. “It reflects a growing desire by founders and early-stage investors to be more equity efficient when financing growth."
“Monet considered several financing alternatives before selecting SaaS Capital” comments Chuck Ciarlo, CEO of Monet Software. “In the end, the way SaaS Capital tailors their solution to the needs of a SaaS company, greater cash availability, and a much better repayment structure made it the obvious choice. This facility will allow us to accelerate our product development roadmap and provide increased functionality to our customers.”
Gardner continues, “In the SaaS space today, debt financing is no longer just “window dressing” that comes with a VC round. Instead, debt can now be used as real growth capital to fund a business in a cost effective way. Debt is not appropriate for every business, and it needs to be structured properly, but it is emerging as a true substitute for many initial or follow-on equity rounds."
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 of a SaaS business, 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.
About Monet Software
Monet Software is a global provider of workforce optimization software solutions for call centers. Monet’s cloud-based solution, Monet Live, is an affordable and easy to use call center optimization software solution that includes workforce management, call recording, quality management and screen capturing. Call centers will start improving service levels and reducing center costs without the upfront expenses and IT requirements of traditional workforce software. For more information about Monet Software, please go to www.monetsoftware.com or subscribe to our blogs about Workforce Management and Call Recording.
We looked at different financing alternatives to fund our growth including venture capital, venture debt, and commercial banks. SaaS Capital's approach allows us access to the greatest amount of capital with a line-of-credit that provides us flexibility around when we borrow and repay.
Executive Chairman, iModules