ThinkHR is a comprehensive cloud-based HR resource center that offers a unique combination of online compliance and employee training solutions, as well as a live HR hotline staffed by seasoned HR advisors.
SaaS Capital extended a $3.0 million MRR-based line-of-credit for further development of its software platform and to increase sales capacity.
The flexibility offered by the facility meant the company didn’t have to choose between sales or product development. The financing allowed the company to accelerate new business growth while fully developing an entire suite of new products.
In 2015 ThinkHR raised $12 million in equity capital that will be used to fund growth as well as provide some founder liquidity.
SaaS Capital was a good fit for ThinkHR for two reasons: 1) the facility funded a business model transition which made the company more attractive to equity investors, and, 2) the facility funded significant revenue growth which increased its valuation and allowed for a private equity like event. ThinkHR was able to fund a significant (8 digit) increase in value with the SaaS Capital financing and has retained the facility after the equity investment for continued flexibility.
ThinkHR has experienced significant growth in the past year and… our funding from SaaS Capital is the fuel we need to capitalize on the explosive market opportunity before us.
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