CINCINNATI, SEATTLE, WESTMINSTER, November 01, 2018 – SaaS Capital, the leading provider of Committed Credit Facilities to software-as-a-service (SaaS) companies, today announced that it has provided a $6 million line of credit to TraceGains.
“We’ve received countless solicitations from investors and financial entities wanting to do business with TraceGains,” said Gary Nowacki, CEO of TraceGains. “SaaS Capital stood apart as really understanding our business and financial needs.”
TraceGains is revolutionizing information exchange across the supply chain for food, beverage, and supplement businesses. The company has grown rapidly for years, recently accelerated by its acquisition of Healthnotes, the leader in regulatory and consumer education solutions for dietary supplement retailers and manufacturers.
"TraceGains is an impressive company on its own, having carved out a fast-growing business in the food and beverage space," said Rob Belcher, Managing Director of SaaS Capital. "The Healthnotes acquisition catapults the company into another great vertical, dietary supplements. We are proud they chose SaaS Capital for their capital partner to accommodate their continued investment in growth.”
TraceGains is a rapidly growing software company that delivers cloud-based supplier compliance and quality management solutions for the food, beverage, and supplement industries. At the heart of TraceGains is an advanced network platform that enables companies to automate and optimize their processes through instant information sharing and collaboration throughout the supply chain, which accelerates new product development, eliminates risk, and improves quality. TraceGains is the winner of the Stratus Award for Cloud Collaboration and is also among the Food Logistics Top 100 software and technology providers. Visit www.tracegains.com to learn more.
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 of dollars in enterprise value without sacrificing significant ownership or control. SaaS Capital has offices in Cincinnati and Seattle. Visit www.saas-capital.com to learn more.
Although we received several outside funding offers, we knew SaaS Capital was the best fit for us at this stage. Working with SaaS Capital we’re able to avoid both the strict requirements of traditional bank financing and the ownership dilution that comes with an equity investor.
Founder and CEO, Webgility