Espresso Capital provided North Carolina-based data software provider Zaloni with a $6 million credit facility.
The company will use the funds to further expand its sales team, make additional investments in its DataOps software platform (Arena) and continue to drive revenue growth.
“We’ve found a true partner in Espresso,” Susan Cook, CEO of Zaloni, said. “They’ve given us the flexibility we need to continue to grow our business in a challenging macroeconomic environment. Espresso’s investment will enable us to execute our plan, continue to improve our platform and accelerate our go-to-market strategy by making strategic investments in sales and marketing. Espresso’s flexible, non-dilutive facility gives us the opportunity to build on the momentum from the launch of Zaloni’s new Arena™ platform, moves us further toward profitability and boosts our growth trajectory.”
“Zaloni is a fantastic company with a massive addressable market,” Steven Michau, executive director at Espresso, said. “Between the quality of their leadership team, the value that their platform delivers and the tailwinds they’re seeing, we see a very bright future ahead for them and are excited to be able to help support their growth.”
Zaloni was introduced to Espresso through existing investor Baird Capital.
“Part of the value that we bring to our portfolio companies is connecting them to the right players in the ecosystem to help them build their businesses,” Jim Pavlik, partner at Baird Capital, said. “We’re excited that our introduction to Espresso led to this partnership with Zaloni and provides Susan and her team with additional growth capital to continue to expand their business.”
“Espresso has been tremendous to work with,” Cook said. “They have a true appreciation for how companies like ours do business and structured a deal that worked. Not only that, there weren’t any surprises along the way. They’re rational, straightforward, and follow through with agreed terms, which resulted in a seamless process. We’ve been thoroughly impressed and are delighted to have them as a strategic partner as we scale our business.”
Baird Capital makes venture capital, growth equity and private equity investments in targeted sectors around the world.
Espresso Capital provides companies with venture debt solutions.
