Accelerize, a provider of marketing technology solutions, received a new $8 million credit facility from SaaS Capital, a provider of committed credit facilities to software-as-a-service (SAAS) companies.

The funds will be used to retire the outstanding balance of the company’s current credit facility (approximately $4.6 million as of December 31, 2015), drive global sales growth of its CAKE digital marketing solutions into new and existing markets and further its position in digital marketing software through continued product innovation.

“We are pleased to have secured this new facility with SaaS Capital, a partner who truly understands the SAAS business model. It provides us with significant, efficient capital to grow for the foreseeable future,” said Anthony Mazzarella, CFO at Accelerize. “This new facility is substantially larger than our previous line of credit and features a structure and covenants designed specifically for growing SaaS companies. With this new larger and more flexible facility we are focused on accelerating our revenue growth and increasing bottom-line profitability.”

Accelerize owns and operates CAKE, a marketing technology provider of solutions that track and analyze the performance of digital marketing spend, in real-time.