The funding will enable Piano to enhance its
platform capabilities, expand its market presence, and support
strategic initiatives aimed at driving growth and delivering
innovative digital solutions to its clients
MENLO
PARK, Calif., Feb. 6, 2025
/PRNewswire/ -- Runway Growth Capital LLC ("Runway"), a
leading provider of growth loans to both venture and
non-venture-backed companies seeking an alternative to raising
equity, today announced its role as the lead lender in a
$75 million senior secured term loan
facility that is part of a $120
million financing to Piano, a global leader in digital
experience management, customer journey orchestration, and advanced
analytics. The financing also includes a $45 million Series D investment led by Updata
Partners, a Washington, D.C.-based
growth equity firm focused on technology. This capital will enable
Piano to optimize its platform, expand its market presence, and
support strategic growth initiatives.
Founded in 2010, Piano offers an end-to-end platform that allows
enterprises to more quickly identify, understand, and serve their
customers. The Piano platform leverages unique data architectures
that operate at massive scale and at orders of magnitude faster
than competing solutions. This product helps global, national, and
local brands and publishers achieve revenue growth while empowering
teams to launch relevant audience experiences seamlessly, at scale,
and with complete privacy-compliance.
With its US-headquarters in Philadelphia, PA and a presence in over 15
offices worldwide, including Amsterdam, Paris, Singapore, Berlin, Buenos
Aires, New York, and
Tokyo, Piano serves a diverse
client base across six continents. Piano has been recognized as one
of the fastest-growing, innovative technology companies by
organizations such as Red Herring,
the World Economic Forum, and Deloitte.
"Piano's innovative approach to digital experience
management and its market leadership position makes it an ideal
partner for Runway," said Jeff
Goldrich, Managing Director at Runway. "We are excited to
support Piano's continued expansion and their commitment to
delivering exceptional solutions to their clients."
"This financing from Runway Growth Capital provides us with the
resources to further enhance our platform and accelerate our growth
strategy," said Trevor Kaufman, CEO
of Piano. "We appreciate Runway's confidence in our vision and look
forward to advancing our mission to empower businesses with the
tools they need to understand and influence customer behavior."
"The range of industries and business problems Piano is able to
address with its technology is incredibly impressive," added
Ted Cavan, Managing Director at
Runway Growth Capital. "The Piano team has built a truly
industry-leading technology and we are thrilled to be a part of
their continued success."
About Runway Growth Capital LLC
Runway Growth Capital
LLC is the investment adviser to investment funds, including Runway
Growth Finance Corp. (Nasdaq: RWAY), a business development
company, and other private funds, which are lenders of growth
capital to companies seeking an alternative to raising equity. Led
by industry veteran David Spreng,
these funds provide senior term loans of a target of $30 million to $150
million to fast-growing companies based in the United States and Canada. For more information on Runway Growth
Capital LLC and its platform, please
visit www.runwaygrowth.com.
About Piano
Piano is a leading digital experience
platform that empowers organizations to understand and influence
customer behavior by putting the power of data and logic into the
hands of their employees. Piano's end-to-end platform leverages
data, artificial intelligence, and commerce features to help brands
and publishers achieve revenue growth while enabling teams to
launch relevant audience experiences. With a global presence and a
diverse client base, Piano has been recognized as one of the
fastest-growing, innovative technology companies worldwide. For
more information, visit www.piano.io.
Forward-Looking Statements
Statements included
herein may constitute "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995.
Statements other than statements of historical facts included in
this press release may constitute forward-looking statements and
are not guarantees of future performance, condition, or results and
involve a number of risks and uncertainties. Actual results may
differ materially from those in the forward-looking statements as a
result of a number of factors, including those described from time
to time in Runway's filings with the Securities and Exchange
Commission. Runway undertakes no duty to update any forward-looking
statement made herein. All forward-looking statements speak only as
of the date of this press release.
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SOURCE Runway Growth Capital LLC
