CINCINNATI, NEW YORK, SEATTLE, PLEASANTON, July 07, 2017 – SaaS Capital, the leading provider of Committed Credit Facilities to SaaS companies, today announced that it has provided a $5 million line of credit to ThinkHR. SaaS Capital originally funded ThinkHR in 2014.
“SaaS Capital has been a trusted partner for us since 2014 and an important driver of our rapid growth,” said ThinkHR founder and CEO, Pete Yozzo. “Their support has accelerated our emergence as the acknowledged innovator and industry standard for integrated live and cloud-based HR support.”
Located in the San Francisco Bay Area, ThinkHR serves over 850 partners, including seven out of 10 of the largest insurance brokerage firms. The company projects that by the end of 2017, it will provide expert HR knowledge and training solutions to more than 200,000 companies that employ millions of people across the nation.
"ThinkHR has done a great job of blending professional HR expertise into an easy-to-use SaaS application," said Todd Gardner, Founder and Managing Director of SaaS Capital. "Given the huge success of their product and the strong backing of Kennet Ventures, we are fortunate they selected SaaS Capital amongst their many different debt options. We are excited to have them back in the portfolio."
The additional growth funding provided to ThinkHR follows a new round of growth financing to Monet Software and marks the fifth new funding the firm has announced in 2017.
ThinkHR is a comprehensive cloud-based HR platform that offers a unique combination of online compliance and employee training solutions, as well as a live HR hotline staffed by seasoned HR advisors. ThinkHR’s integrated platform helps companies ensure HR compliance and the ability to quickly resolve issues, implement best practices as well as access innovative resources that optimize employee performance. With this combined approach, ThinkHR delivers the fastest, most personalized issue resolution and learning platform in the industry. The company was founded in 2005 and is headquartered in Pleasanton, California. Visit www.ThinkHR.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 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.
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