Runway Growth Capital Leads $75 Million Loan Facility as Part of $120 Million Financing for Piano
Runway Growth Capital has announced its role as lead lender in a $75 million senior secured term loan facility, part of a larger $120 million financing package for Piano. The financing includes a $45 million Series D investment led by Updata Partners. Piano, a global leader in digital experience management founded in 2010, will use the capital to optimize its platform, expand market presence, and support strategic growth initiatives.
Piano's platform helps brands and publishers achieve revenue growth through customer journey orchestration and advanced analytics. The company operates in over 15 offices worldwide, including Amsterdam, Paris, Singapore, and Tokyo, serving clients across six continents. Piano has earned recognition from organizations like Red Herring, World Economic Forum, and Deloitte for its growth and innovation.
Runway Growth Capital ha annunciato il suo ruolo come finanziatore principale in un prestito senior garantito di 75 milioni di dollari, parte di un pacchetto di finanziamento più ampio di 120 milioni di dollari per Piano. Il finanziamento include un investimento di 45 milioni di dollari nella Serie D guidato da Updata Partners. Piano, leader globale nella gestione dell'esperienza digitale fondata nel 2010, utilizzerà il capitale per ottimizzare la sua piattaforma, espandere la presenza sul mercato e supportare iniziative di crescita strategica.
La piattaforma di Piano aiuta marchi e editori a raggiungere una crescita dei ricavi attraverso l'orchestrazione del percorso del cliente e analisi avanzate. L'azienda opera in più di 15 uffici in tutto il mondo, tra cui Amsterdam, Parigi, Singapore e Tokyo, servendo clienti in sei continenti. Piano ha ricevuto riconoscimenti da organizzazioni come Red Herring, World Economic Forum e Deloitte per la sua crescita e innovazione.
Runway Growth Capital ha anunciado su papel como prestamista principal en una facilidad de préstamo senior garantizado de 75 millones de dólares, parte de un paquete de financiación más grande de 120 millones de dólares para Piano. La financiación incluye una inversión de 45 millones de dólares en la Serie D liderada por Updata Partners. Piano, un líder global en gestión de la experiencia digital fundado en 2010, utilizará el capital para optimizar su plataforma, expandir su presencia en el mercado y apoyar iniciativas de crecimiento estratégico.
La plataforma de Piano ayuda a marcas y editores a lograr crecimiento de ingresos a través de la orquestación del viaje del cliente y análisis avanzados. La empresa opera en más de 15 oficinas en todo el mundo, incluyendo Ámsterdam, París, Singapur y Tokio, atendiendo a clientes en seis continentes. Piano ha sido reconocida por organizaciones como Red Herring, Foro Económico Mundial y Deloitte por su crecimiento e innovación.
Runway Growth Capital는 7500만 달러의 선순위 담보 대출 시설에서 주 담보사로서의 역할을 발표했습니다. 이는 Piano를 위한 더 큰 1억 2천만 달러의 자금 지원 패키지의 일환입니다. 이 자금 조달에는 Updata Partners가 이끄는 4500만 달러의 D 시리즈 투자도 포함되어 있습니다. 2010년에 설립된 디지털 경험 관리의 글로벌 리더인 Piano는 이 자본을 사용하여 플랫폼을 최적화하고 시장 존재감을 확장하며 전략적 성장 이니셔티브를 지원할 것입니다.
Piano의 플랫폼은 브랜드와 출판사가 고객 여정 조정 및 고급 분석을 통해 수익 성장을 달성하도록 돕습니다. 이 회사는 암스테르담, 파리, 싱가포르, 도쿄를 포함해 전 세계 15개 이상의 사무소에서 운영하며, 여섯 대륙의 고객들에게 서비스를 제공합니다. Piano는 Red Herring, 세계 경제 포럼 및 Deloitte와 같은 기관들로부터 성장과 혁신에 대한 인정을 받았습니다.
Runway Growth Capital a annoncé son rôle de prêteur principal dans une facilité de prêt senior garanti de 75 millions de dollars, qui fait partie d'un plus grand package de financement de 120 millions de dollars pour Piano. Le financement comprend un investissement de 45 millions de dollars dans la série D, dirigé par Updata Partners. Piano, leader mondial dans la gestion de l'expérience numérique, fondée en 2010, utilisera ce capital pour optimiser sa plateforme, accroître sa présence sur le marché et soutenir des initiatives de croissance stratégique.
La plateforme de Piano aide les marques et les éditeurs à réaliser une croissance des revenus grâce à l'orchestration du parcours client et à des analyses avancées. L'entreprise est présente dans plus de 15 bureaux à travers le monde, notamment à Amsterdam, Paris, Singapour et Tokyo, et sert des clients sur six continents. Piano a reçu des distinctions d'organisations telles que Red Herring, le Forum économique mondial et Deloitte pour sa croissance et son innovation.
Runway Growth Capital hat seine Rolle als Hauptgläubiger in einer 75-Millionen-Dollar senior gesicherten Kreditfazilität bekannt gegeben, die Teil eines größeren 120-Millionen-Dollar Finanzpakets für Piano ist. Die Finanzierung umfasst eine 45-Millionen-Dollar Serie-D-Investition, die von Updata Partners geleitet wird. Piano, ein globaler Marktführer im Bereich digitales Erlebnismanagement, wurde 2010 gegründet und wird das Kapital nutzen, um seine Plattform zu optimieren, die Marktpräsenz auszubauen und strategische Wachstumsinitiativen zu unterstützen.
Pianos Plattform hilft Marken und Verlagen, durch Kundenreise-Orchestrierung und fortschrittliche Analytik Umsatzwachstum zu erzielen. Das Unternehmen ist in über 15 Büros weltweit tätig, darunter Amsterdam, Paris, Singapur und Tokio, und bedient Kunden auf sechs Kontinenten. Piano hat Anerkennung von Organisationen wie Red Herring, dem Weltwirtschaftsforum und Deloitte für sein Wachstum und seine Innovationen erhalten.
- Secured substantial financing of $120 million, including $75 million term loan and $45 million Series D investment
- Global presence with operations in 15+ offices across six continents
- Recognition from prestigious organizations (Red Herring, World Economic Forum, Deloitte)
- Established market position with scalable technology platform
- None.
Insights
The $75 million senior secured term loan to Piano marks a strategic expansion of RWAY's portfolio in the high-growth digital experience management sector. This deal structure, combining RWAY's venture debt with $45 million in Series D equity led by Updata Partners, demonstrates sophisticated capital deployment that aligns with RWAY's risk management framework.
Several key factors make this investment particularly compelling for RWAY shareholders:
- Piano's established market position and global footprint across 15 offices worldwide reduces geographical concentration risk while providing multiple growth vectors
- The company's diverse client base spanning six continents suggests strong recurring revenue potential and natural hedging against regional market fluctuations
- Recognition from prestigious organizations like the World Economic Forum and Deloitte validates Piano's market position and growth trajectory
- The senior secured structure provides RWAY with strong downside protection while maintaining upside potential through the loan terms
For RWAY's portfolio, this transaction represents a high-quality addition that could generate meaningful interest income while maintaining conservative risk parameters. Piano's established market position and substantial equity cushion from the Series D round provide multiple layers of protection for RWAY's capital.
The deal also strengthens RWAY's competitive position in the venture debt market, particularly in the enterprise SaaS sector, which typically offers stable cash flows and strong unit economics. This could lead to additional high-quality deal flow in similar segments, potentially creating a virtuous cycle for RWAY's growth strategy.
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
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
"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
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
FAQ
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