Runway's recognition highlights its unwavering
support for entrepreneurs through minimally dilutive capital
solutions.
MENLO
PARK, Calif., Oct. 29,
2024 /PRNewswire/ -- Runway Growth Capital LLC
("Runway"), a leading provider of growth loans to venture and
non-venture-backed companies seeking an alternative to raising
equity, is proud to announce its inclusion in Inc. Magazine's 2024
Founder-Friendly Investors list. This marks another significant
achievement for the firm, reinforcing its reputation as a trusted
financial partner dedicated to empowering entrepreneurs by offering
capital solutions that allow founders to maintain ownership of
their businesses.
"It has been a complicated few years for growth companies and
the companies that fund them," said Mike
Hofman, editor-in-chief of Inc. "So we are happy to share
with our readers the best, latest guidance on which venture capital
firms, private equity firms, and growth-capital lenders have the
track record and reputation of being especially good partners to
founders and CEOs."
The prestigious list celebrates the investors who believe in
backing founder-led businesses and helping them thrive. All
companies on the list have successful track records of
collaboration and remaining actively involved with the businesses
they invest in.
"Our inclusion on Inc.'s Founder-Friendly Investors list
underscores our commitment to building meaningful relationships
with founders," said David Spreng,
Founder and CEO of Runway. "By offering venture debt, a less
dilutive alternative to equity, we enable entrepreneurs to retain
more control of their companies while supporting them through their
growth journey."
Runway's investment philosophy centers on collaboration with its
borrowers, focusing on trust, transparency, and long-term
partnership. Founded in 2015, the firm has distinguished itself as
a key player in venture lending, helping high-growth companies
across varied industries access non-dilutive financing. Since its
inception, Runway has partnered with 83 companies, providing
capital to businesses with a clear path to profitability and
issuing over $3.2 billion in total
loan commitments.
A recent example of Runway's commitment to its portfolio
companies is its partnership with Elevate Services, Inc.
("Elevate"), a leading global provider of software and services to
legal departments and law firms. In 2024, Runway provided
$20.0 million in growth capital to
Elevate, building on the $40.0
million committed by Runway in 2023. The additional
investment reaffirmed Runway's confidence in Elevate's strategy and
underscored Runway's dedication to supporting the long-term growth
of its portfolio companies.
Runway has executed several similar upsizes, maintaining strong
confidence in its investments and consistently supporting founders
through both challenges and successes. In the fourth quarter of
2023, Runway provided a $65.0 million
investment to existing portfolio company Synack, Inc. ("Synack"), a
developer of a crowdsourced security testing platform, funding
$40.0 million at close. This
investment refinanced a $60.0 million
senior secured term loan previously provided by Runway. Also in the
fourth quarter of 2023, Runway added a $30.0
million investment to its existing portfolio company,
Bombora, Inc. ("Bombora"), a marketing technology and data company,
funding $28.0 million at close, which
upsized the previous $20.0 million
senior secured term loan provided by Runway to Bombora.
Introduced in 2019, the Founder-Friendly Investors list has
become a go-to guide for entrepreneurs who want to grow their
companies while retaining an ownership stake.
To see the complete list, go to:
https://www.inc.com/founder-friendly-investors/2024
The November 2024 issue of Inc.
magazine is available online now at https://www.inc.com/magazine
and will be on newsstands beginning October
29.
Legal Disclosure
The award for Runway's advisory
services has been given by a non-advisory client. A cash
compensation entry fee was given in association with the award. Any
compensation may create a conflict of interest. For more
information on Inc.'s award selection process click here.
About Inc.
Inc. is the leading media brand and
playbook for the entrepreneurs and business leaders shaping our
future. Through its journalism, Inc. aims to inform, educate, and
elevate the profile of our community: the risk-takers, the
innovators, and the ultra-driven go-getters who are creating our
future. Inc.'s award-winning work achieves a monthly brand
footprint of more than 40 million across a variety of channels,
including events, digital, print, video, podcasts, newsletters, and
social media. Its proprietary Inc. 5000 list, produced every year
since its launch as the Inc. 100 in 1982, analyzes company data to
rank the fastest-growing privately held businesses in the United States. The recognition that comes
with inclusion on this and other prestigious Inc. lists, such as
Female Founders and Power Partners, gives the founders of top
businesses the opportunity to engage with an exclusive community of
their peers, and credibility that helps them drive sales and
recruit talent. For more information, visit www.inc.com.
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 other private funds, which are lenders of growth
capital to companies seeking an alternative to raising equity. Led
by industry veteran David Spreng,
these funds provide senior term loans of $10
million to $75 million to
fast-growing companies based in the
United States and Canada.
For more information on Runway Growth Capital LLC and its platform,
please visit our website at www.runwaygrowth.com.
Forward-Looking
Statements
Statements included herein 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 are not guarantees of
future performance, condition, or results and involve a number of
risks and uncertainties. Actual results may differ materially from
those in the forward-looking statements as a result of a number of
factors, including those described from time to time in Runway's
filings with the Securities and Exchange Commission. Runway
undertakes no duty to update any forward-looking statement made
herein. All forward-looking statements speak only as of the date of
this press release.
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SOURCE Runway Growth Capital LLC
