SG Credit provided a $2.5 million non-dilutive credit facility to X1, a provider of remote preservation and ESI collection software. The company’s products are utilized by Fortune 500 companies, law firms and government agencies for legal, compliance and governance purposes.
X1 required growth capital to continue new product development and to bolster its enterprise sales team. SG Credit was supportive of the transaction given X1’s ARR growth, customer retention and continued investor support. SG Credit structured the $2.5 million non-dilutive credit facility around X1’s ARR, allowing existing investors to capture upside in enterprise value generated by additional growth. SG Credit closed the transaction within three weeks.
