Runway Growth Capital, a provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, committed $20 million in growth capital to Elevate, a provider of consulting, technology and services for law departments and law firms. The investment upsizes the previous $40 million senior secured term loan provided by Runway in 2023.
“We are thrilled to continue our partnership with Elevate, a market leader in legal software and services,” Brad Pritchard, managing director at Runway, said. “This additional funding underscores our commitment to supporting the long-term growth of Runway’s portfolio companies.”
“We appreciate Runway’s partnership and belief in our vision,” Liam Brown, chairman and CEO of Elevate, said. “This investment is a strong vote of confidence in our strategy, execution and team and will enable us to pursue inorganic growth opportunities.”
