附近上门

If the company name sounds familiar, it is because you read about them just four months ago when we wrote about the startup鈥檚 $6 million seed funding, led by.

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On Wednesday, the Los Angeles-based company is back in the news again, this time announcing a $60 million seed extension鈥攓uite uncommon for a young company in a short period of time.

鈥淲e are connecting SaaS companies with investors, and in order to do that, liquidity needs to be in the marketplace,鈥� Pipe鈥檚 co-founder and Co-CEO told 附近上门 News. 鈥淥nly a small portion of the new financing will go to core operations鈥攚e run lean and mean鈥攁nd a vast majority of the money will go into the marketplace, so as more SaaS companies sign up, there will be liquidity.鈥�

Hurst, and founded Pipe in September 2019 and launched their software-as-a-service platform in February, which they tout as the industry鈥檚 first subscription financing platform.

SaaS subscriptions are a highly predictable source of recurring revenue, and Pipe helps SaaS companies turn their monthly or quarterly subscriptions into upfront cash flow, Hurst said. Its goal is to offer SaaS companies a way to grow without diluting their current cap table.

The extension round, which included equity and asset financing, was led by with participation from new investors , , and . Existing investors Craft, and also participated.

鈥淧ipe has cracked the code for SaaS companies to scale, providing growth capital without dilution or debt,鈥� Will Davis, president and managing director of KSD Capital, said in a written statement.

Meanwhile, Hurst said the company is growing and an international expansion may be on the horizon in the near term. As the business grows, it will add employees accordingly, he added. One of those new employees is former executive, , the company鈥檚 new chief operating officer and chief legal officer.

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