CINCINNATI, NEW YORK, SEATTLE, LONDON August 23, 2016 – 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 Pusher Ltd., in London, the premier SaaS service for integrating real-time functionality into web and mobile applications.
"We’ve been very successful at growing organically over the last few years, after raising seed funding in early 2011. Focusing on being a functioning business first is our preferred approach, and one that we feel sets us apart from many of the technology companies who raise a huge amount of capital,” said Max Williams, CEO of Pusher. “We’re surprised more successful SaaS businesses don’t take advantage of a SaaS Capital Facility, as it is so much cheaper than equity financing. Pusher will invest the incremental capital to pursue a more aggressive product vision.”
Pusher is a cloud-based service that makes it easy and fast to add scalable real-time functionality to web and mobile applications. The company’s suite of tools allows developers to create interactive and engaging features in a matter of minutes instead of weeks. As a hosted service, Pusher automatically scales when required, removing all the pain of setting up and maintaining a secure, real-time infrastructure.
"The Pusher team is incredibly focused on building world-class products as well as a sustainable and profitable business," said Todd Gardner, Founder and Managing Director of SaaS Capital. “We are pleased they selected SaaS Capital, and we look forward to working with Max and his team. There are fewer financing options available to SaaS companies in the UK, so we are glad we could be of service. This is our third financing of a UK-based business, and we hope to do many more.”
Founded in 2010, Pusher is a hosted real-time messaging service with APIs, developer tools and open source libraries that greatly simplify integrating real-time functionality into web and mobile applications. With its powerful and intuitive hosted API, Pusher allows developers to create groundbreaking real-time experiences such as collaborative tools, multiplayer games, real-time social networking, second screen experiences and much more. Companies such as GitHub, MailChimp, the Financial Times, and Buffer rely on Pusher to enhance their users’ real-time experience.
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 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.
Having grown revenue rapidly and proven our business model, we were looking for innovative financing options to finance continued rapid growth. SaaS Capital’s approach was the right fit at the right time for our business.