SaaS Capital Assists iModules Software with Acquisition Financing
February 28, 2013
SaaS Capital Assists iModules with Acquisition Financing
SaaS Capital & DH Capital partner to provide $5.25 million in expanded financing for an existing portfolio company to complete an acquisition.
CINCINNATI, OH – February 28, 2013 – SaaS Capital, the pioneer provider of debt-based growth financing for SaaS businesses, today announced that it recently facilitated $5.25 million in acquisition financing for iModules Software, a current SaaS Capital portfolio company.
SaaS Capital worked with their fund partners from DH Capital, a private investment banking partnership serving the Internet infrastructure, communications, and SaaS sectors, to extend iModules existing line-of-credit and secure additional direct investment from current SaaS Capital fund investors.
iModules utilized this expanded credit facility to acquire the assets of Harris Connect’s Internet Services line of business, solidifying their position as the leader in the Constituent Engagement Management (CEM) market. Based in Overland Park, KS, iModules provides SaaS-based CEM solutions for some of the largest, most prestigious higher education institutions in the world and serves more than 800 clients reaching more than 90 million constituents.
“This acquisition is a significant milestone in the growth of our business,” said Tom Palmer, executive chairman of iModules. “SaaS Capital has a deep understanding of our SaaS business model, which enabled them to respond quickly to the opportunity and our financing needs. Their team offered us a unique alternative that enabled us to expand our business in a manner that was accretive to our shareholders.”
“Acquisition financing is a natural for us,” said Todd Gardner, CEO of SaaS Capital. “By allowing iModules to lever both their own recurring revenue as well as that of the acquired company, they were able to achieve an equity efficient transaction. We were happy to be able to help, and the broader resources of DH Capital allowed us to execute the financing in a seamless and timely fashion.”
About SaaS Capital Founded in 2006, SaaS Capital is the pioneer provider of debt-based growth capital for SaaS companies. SaaS Capital offers the only financing alternative in the market that is completed tailored to the needs of SaaS businesses. Our debt-based financing leverages the unique cash flow needs of SaaS businesses, functions as a long-term growth engine, and potentially eliminates the need for equity-centric financing. Through its partnership with DH Capital, SaaS Capital can also assist with a variety of M&A and capital raising advisory services. To learn more about SaaS Capital, visit www.saas-capital.com.
About iModules Software iModules is the leading constituent engagement management provider for educational institutions. Our interconnected suite of modules transforms how institutions create relevant constituent experiences and achieve fundraising success through web content management, marketing communications, online giving, event management and ecommerce, and social media integration. We integrate data, content, and strategy to drive participation and financial growth, while increasing operational efficiency. Our expertise and exceptional customer service combined with our passion for web technology deliver meaningful results in marketing communications, giving, memberships, and stewardship for educational institutions. With more than 800 clients reaching more than 90 million constituents, iModules has been an industry leader since 2002 by partnering with institutions worldwide to achieve their missions. For more information, visit www.imodules.com.
About DH Capital DH Capital is a private investment banking partnership serving companies in the Internet infrastructure, communications, and SaaS sectors. Headquartered in New York City with offices in Boulder, Colorado, the firm’s principals have extensive experience and proven abilities in capital formation, finance, research, business development and operations. DH Capital provides a full range of advisory services to companies and financial institutions, including mergers and acquisitions, private capital placements, financial restructuring, and operational consulting. DH Capital has completed 100 M&A transactions and private capital placements totaling more than $5.9 billion in value. For more information on DH Capital, visit their website at www.dhcapital.com.
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