Runway Growth Capital Fuels Piano's Growth with $75M Loan Facility

Runway Growth Capital (RWAY) has stepped up as the lead lender in a $75 million senior secured term loan facility, part of a larger $120 million financing package for Piano Software, Inc. (Piano). This strategic investment, alongside a $45 million Series D equity investment led by Updata Partners, will enable Piano to optimize its platform, expand its market presence, and support strategic growth initiatives.

Piano, a global leader in digital experience management, customer journey orchestration, and advanced analytics, has established a strong market position with its innovative approach to digital experience management. The company's 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. The company has been recognized as one of the fastest-growing, innovative technology companies by organizations such as Red Herring, the World Economic Forum, and Deloitte.

Jeff Goldrich, Managing Director at Runway, expressed confidence in Piano's vision and market leadership position, stating, "We are excited to support Piano's continued expansion and their commitment to delivering exceptional solutions to their clients." Ted Cavan, Managing Director at Runway Growth Capital, added, "The range of industries and business problems Piano is able to address with its technology is incredibly impressive. The Piano team has built a truly industry-leading technology and we are thrilled to be a part of their continued success."

The combination of Runway Growth Capital's venture debt and Updata Partners' Series D equity investment creates a balanced capital structure for Piano, providing the company with the resources to execute its growth strategy while maintaining a strong financial foundation. This balanced approach offers several benefits, including risk mitigation, upside potential, diversified funding, aligned interests, and flexibility.

In conclusion, Runway Growth Capital's $75 million loan facility, combined with Updata Partners' $45 million Series D investment, positions Piano for continued growth and success in the digital experience management market. With a strong market position, innovative technology, and a balanced capital structure, Piano is well-equipped to optimize its platform, expand its market presence, and support strategic growth initiatives.