Runway Growth Capital, a provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, and BC Partners Credit, the $8 billion credit arm of BC Partners, committed $131 million in financing to VertexOne.
The capital will enable VertexOne to refinance existing obligations, acquire Accelerated Innovations for $32.5 million and invest in platform enhancements to deliver transformative customer engagement solutions.
“VertexOne’s strategic growth trajectory and commitment to innovation have been exemplary,” Greg Greifeld, managing director and deputy chief investment officer at Runway Growth Capital, said. “We are excited to provide this capital alongside BC Partners Credit to support VertexOne’s continued success, including their acquisition of Accelerated Innovations.”
As part of the financing, Greifeld will join VertexOne’s board of directors.
“We are grateful for the partnership and investment from Runway and BC Partners Credit,” Andrew Jornod, president and CEO of VertexOne, said. “This funding not only strengthens our financial position but also enables us to deliver superior value to our energy and utility clients, empowering them with innovative tools to improve customer experience, operational efficiency and sustainability outcomes.”
“VertexOne has demonstrated impressive growth and resilience since our initial investment,” Keith Pennell, managing partner at DFW Capital Partners, said. “This latest financing is a testament to VertexOne’s market leadership and vision. The acquisition of Accelerated Innovations and the deployment of additional capital will significantly enhance VertexOne’s ability to deliver advanced, customer-focused solutions to energy and utility providers. We look forward to VertexOne’s continued success as it expands its market presence.”
