Runway Growth Capital, a provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, acted as the lead lender in a $75 million senior secured term loan facility that is part of a $120 million financing to Piano, a global company in digital experience management, customer journey orchestration and analytics. The financing also includes a $45 million Series D investment led by Updata Partners, a Washington, D.C.-based growth equity firm focused on technology. This capital will enable Piano to optimize its platform, expand its market presence and support strategic growth initiatives.
“Piano’s innovative approach to digital experience management and its market leadership position makes it an ideal partner for Runway,” Jeff Goldrich, managing director at Runway Growth Capital, said. “We are excited to support Piano’s continued expansion and their commitment to delivering exceptional solutions to their clients.”
“This financing from Runway Growth Capital provides us with the resources to further enhance our platform and accelerate our growth strategy,” Trevor Kaufman, CEO of Piano, said. “We appreciate Runway’s confidence in our vision and look forward to advancing our mission to empower businesses with the tools they need to understand and influence customer behavior.”
“The range of industries and business problems Piano is able to address with its technology is incredibly impressive,” Ted Cavan, managing director at Runway Growth Capital, said. “The Piano team has built a truly industry-leading technology and we are thrilled to be a part of their continued success.”
