CINCINNATI, NEW YORK, SEATTLE, SAN FRANCISCO, October 26, 2017 – SaaS Capital, the leading provider of Committed Credit Facilities to SaaS companies, congratulates portfolio company Webgility on its $6.4 million Series A funding from Pilot Growth Equity. Webgility, the leader in ecommerce automation software in the small and medium business market, had the following to say about the investment:
"It's our mission to make business easier for ecommerce SMBs and give them the same power and efficiencies that the big guys have," said Parag Mamnani, founder and CEO, Webgility. "Pilot Growth sees tremendous potential in our product and believes in our team and vision for the ecommerce market at large. Their expertise, network, and unique model for supporting entrepreneurs will help us to reach a larger market and grow faster."
Over the past 15 years, a consistent annual growth rate of 10% has caused an explosion in ecommerce sales, moving U.S. online sales into the realm of $400 billion in annual revenue. While the industry has rapidly expanded, SMBs have struggled to keep up with the number of online sales channels, complexity of back-office systems, and the volume of their financial data. Manual operations and fragmented systems make it difficult to see how the business is performing, to act quickly to improve margins, and to win in this highly competitive market.
Founded in 2007, Webgility's flagship product Unify automates the back office and provides a single dashboard from which ecommerce businesses can streamline workflows, control operations, and focus on growth. Webgility software is used by thousands of online stores and automates millions of transactions every month.
Full details of the announcement can be found here.
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. 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.
Webgility, Inc. makes business easier. The company's solution allows multichannel sellers to automate operations, improve workflows, and reduce the effort and inefficiencies of manual data entry. Webgility's Unify software brings together sales, accounting, inventory, and shipping to limit data entry, reduce errors, track operations, and centralize financial data. Webgility® is a certified partner of Intuit®, QuickBooks®, Xero, and NetSuite®, and works with 100+ ecommerce platforms (including Amazon®, eBay®, BigCommerce®, Shopify®, and Magento®), payment processors (PayPal, Stripe, Shopify Payments, Square), and SaaS providers. Visit http://www.webgility.com to learn more.
They are a flexible, non-dilutive option and they really understand the needs of a SaaS business. Due to their extensive reach and best practices insight from other SaaS companies, SaaS Capital also adds significant value to Updox beyond just capital.