Runway Growth Capital Announces $30 Million Senior Secured Term Loan to EPIC IO Technologies | News
WOODSIDE, Calif., February 10, 2022 /PRNewswire/ — Trail Growth Capital LLC (“Runway”), a leading provider of business growth loans backed by venture capitalists and not looking for an alternative to raising equity, today announced the closing a senior secured term loan commitment of $30 million at EPIC IO Technologiesa global leader in solving big data challenges across multiple markets, leveraging artificial intelligence, the Internet of Things, and 4G/5G wireless connectivity through its open, vendor-neutral platform, DeepInsights™ .
Runway’s growing portfolio of venture debt securities seeks to take advantage of market opportunities where large, established companies such as EPIC IO Technologies can benefit from debt financing to invest in efficient capital growth.
“We are seeing increasing demand for growth funding from established companies like EPIC IO Technologies, which have proven technology, good market fit and a strong customer base,” said Marc Donnelly, Managing Director, Head of Origination at Runway Growth Capital. “As private equity-backed companies seek to better understand how flexible lending options can meet their business needs, Runway is stepping in to educate the market and enable them to achieve their growth goals.”
Donnelly continued, “We are thrilled to include EPIC IO Technologies in Runway’s portfolio of innovative companies and to support their efforts to develop and deliver the world-class technology that will securely shape our world.
“This injection of capital will not only help us take it to the next level, but also get us there in a meaningful way,” said Ken Mills, CEO of EPIC IO Technologies. “Runway is an experienced growth partner capable of structuring the right loan to meet the working capital demands we face in the IoT space, to quickly integrate the next chapter of EPIC IO Technologies.”
“EPIC IO Technologies faces tremendous growth opportunities in its mission to create a safer, smarter and more connected world,” said Ke Ding of DFW Capital Partners. “Runway is an ideal partner to provide sophisticated debt growth capital to EPIC IO Technologies to capture these opportunities. With the support of DFW Capital and Runway, EPIC IO Technologies will continue to build its IP platform and its infrastructure, will continue to drive customer satisfaction and delight, and continue to provide customers with tangible, robust and meaningful real-world solutions through its end-to-end IoT solutions.”
About Runway Growth Capital LLC
Runway Growth Capital LLC is the investment advisor to investment funds, including Runway Growth Finance Corp. (Nasdaq: RWAY), a business development company, and Runway Growth Finance LP, which are growth capital lenders to businesses seeking an alternative to raising equity. Led by an industry veteran David Sprengthese funds provide senior term loans $10 million at $75 million fast-growing companies based in United States and Canada. For more information about Runway Growth Capital LLC and its platform, please visit our website at www.runwaygrowth.com.
Statements included in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and do not constitute are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements due to a number of factors, including those described from time to time in Runway Growth’s filings with the Securities and Exchange Commission. Runway Growth assumes no obligation to update any forward-looking statements made herein. All forward-looking statements speak only as of the date of this press release.
About EPIC IO Technologies
EPIC IO Technologies, headquartered in Fort Mill, South Carolina is a global technology holding company focused on wireless connectivity, innovative rich data analytics platforms and results-based technology solutions powered by IoT and AI. For more information, visit www.EPICIO.com
About DFW Capital
DFW Capital Partners is a private equity investment firm focused on lower middle market companies. The company is focused on service companies, with an emphasis on healthcare and outsourced technology-based business and industrial support services. DFW has a track record of over 20 years of success in both building world-class businesses and delivering attractive returns to its investors. DFW is headquartered in Teaneck, New Jersey. For more information, visit www.dfwcapital.com .
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SOURCE Runway Growth Capital LLC