Thursday, August 25, 2016

Lighter Capital Launches $25M Fund Aimed At Salesforce Developers

Seattle-based revenue-based funding provider Lighter Capital anounced today that it has launched a new, $25 million fund, specifically to fund companies building software on the Salesforce AppExchange platform. According to Lighter Capital, the new fund--carved out of the company's $100M credit facility--will go to companies developing solutions on the Salesforce platform. Lighter Capital said, historically, that it already has provided funding to 26 Salesforce-based technology companies. The fudning provider says it sees "huge growth potential" in those types of companies. It said its prior portfolio of companies in the area had gone on to grow monthly revenue by 45% within four months, and doubled their total revenue within 24 months after receiving funding from the company. Among the companies backed by Lighter Capital in the Salesforce area was SteelBrick, which the company said received funding in 2013, and was acquired by Salesforce in December of 2015 for $360M.