Runway Growth Capital, a provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, closed a senior secured term loan commitment of $30 million to EPIC IO Technologies by leveraging artificial intelligence, IoT and 4G/5G wireless connectivity through its open and vendor-agnostic platform, DeepInsights.
The growing Runway venture debt portfolio seeks to capitalize on market opportunities where large, established businesses such as EPIC IO Technologies can benefit from debt financing to invest in capital efficient growth.
“We are seeing increasing demand for growth financing from established businesses like EPIC IO Technologies, who have proven technology, a good market-fit, and a solid customer base,” Mark Donnelly, managing director, head of origination at Runway Growth Capital, said. “As private equity-backed companies look to better understand how flexible loan options may serve their business needs, Runway is stepping in to educate the market and enable them to achieve their goals for growth.
“We are thrilled to include EPIC IO Technologies in Runway’s portfolio of innovative companies and support their effort to develop and deliver the world-class technology that will safely and securely shape our world.”
“This injection of capital will help us not only get to the next level but arrive in a meaningful way,” Ken Mills, CEO of EPIC IO Technologies, said. “Runway is an experienced growth partner capable of structuring the right loan to meet the working capital demand we face in the IOT space, in order to rapidly build into the next chapter of EPIC IO Technologies.”
“EPIC IO Technologies confronts enormous growth opportunities in its mission to create a safer, smarter, more connected world,” Ke Ding of DFW Capital Partners, said. “Runway is an ideal partner to provide sophisticated debt growth capital to EPIC IO Technologies to tackle those opportunities. With DFW Capital and Runway’s support, EPIC IO Technologies will continue its buildout of platform IP and infrastructure, continue to drive customer satisfaction and delight and continue to deliver tangible, robust and meaningful real-world solutions to customers via its end-to-end IoT solutions.”
