This week we provided six figure revenue-based financing to SalesReach Software. This is Lighter Capital’s 40th loan. Not only is this a great milestone in terms of the growing number of total investments Lighter Capital has made in technology companies, but it also represents our 7th deal with a Salesforce ISV (independent software vendor) partner.
SalesReach is a great example of a growing software application SaaS business that needed a boost in funding to get it to the next stage. As a Certified Salesforce ISVForce Partner, SalesReach Software’s products have been used by Telecom, IT and other businesses across the USA since 2010. Their flagship product, SalesReach Telecom, continues to be the only vertical market application available via the Salesforce App Exchange for telecommunications carriers, independent agents, IT value added resellers and managed service providers.
Pete Keane, CEO of SalesReach says, “Lighter Capital has changed the funding paradigm. They presented me with a set of easy to manage funding options that caused neither a dilution of my ownership or guarantees, personal or otherwise. Their process was fair, easy to work with and totally professional. I would recommend Lighter Capital to any technology company needing creative, reasonably priced alternatives to traditional funding.” SalesReach is now expanding into several additional vertical markets including insurance, home services, merchant services, and IT managed services.
“We are really excited to be able to provide funding to SalesReach because we love the business and Pete’s plans to grow it,” says BJ Lackland, CEO of Lighter Capital. “We are also more than pleased to fund another Saleforce ISV partner, since it‘s such an outstanding ecosystem for growing companies. Businesses like SalesReach that leverage the Salesforce platform are ideally suited to revenue-based financing. Their subscription-based, high-margin revenue streams work well with RBF’s fixed percentage repayment model. Our success is always aligned with our customers — we do better when they do better.”
SalesReach’s unique approach focuses on solving the obstacles small business face in adopting Salesforce. While they need the same capabilities as global enterprises they don’t have the time, expertise, or financial resources to customize Salesforce to their unique business needs. By simply installing the appropriate vertical market App from SalesReach via the Salesforce AppExchange, they are able to be up and running with virtually all the customization done for them—free of any development costs.
We are really excited to be able to help SalesReach Software reach its goals. You can learn more about them at salesreach.com and follow them on twitter @SalesReachSoft.
Lighter Capital has hit 40 financings with 25 technology and technology services companies! Almost half of our customers have come back for another round of funding. If you think we can help fund the next stage of your growth, apply with us online.