NEW YORK, September 12, 2014 – SaaS Capital, the largest provider of alternative financing for SaaS businesses, announced today that it has provided a line of credit to ProofHQ. Based in London, UK, ProofHQ provides an online proofing solution that streamlines the process of managing document reviews, proofing and approvals.
“It is our pleasure to join the SaaS Capital portfolio,” said Mat Atkinson, founder and CEO of ProofHQ. “As we evaluated investment options for fueling our growth plans, SaaS capital offered the perfect solution that allowed us to scale the financing in alignment with our revenue objectives while not diluting the equity in the company.”
Since 2008, ProofHQ has been helping an ever-growing base of users – from brands to agencies to publishers and printers – to simplify the process of getting creative work reviewed and approved. ProofHQ team members work in multiple locations in the UK, the USA, Poland and South Africa.
“With a strong growth profile and market leading position, ProofHQ had many different options to raise equity. We are pleased, however, that they selected SaaS Capital to fund their growth and mitigate the dilutive impact of an equity round,” comments Todd Gardner, CEO of SaaS Capital. “We could not be more excited to be partnering with ProofHQ and are looking forward to supporting their continued growth.”
ProofHQ is an online proofing tool used by brands and agencies worldwide. It streamlines the review and approval of content and creative assets so that marketing projects are completed faster and with less effort. ProofHQ replaces email and hard copy processes, giving review teams tools to collaboratively review creative content, and marketing project managers tools to track reviews in progress. ProofHQ can be used across all media including print, digital and audiovisual. For more information, please visit www.proofhq.com.
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 of the SaaS business model, SaaS Capital allows companies to use debt instead of equity to fund investments in sales, marketing, and new product development. SaaS Capital’s line of credit approach combines more availability and longer terms, with more flexible drawdown and repayment, versus other lenders in the market. Through its partnership with DH Capital, SaaS Capital can also assist with a variety of M&A and capital raising advisory services.
The way in which SaaS Capital tailors their solution to the needs of a SaaS company – with greater cash availability and a much better repayment structure – made them the obvious choice for Monet.
CEO, Monet Software