Beedie Capital Partners Provides $5.0M Growth Financing for Elastic Path Software
Vancouver, British Columbia - Beedie Capital Partners (“BCP”) is pleased to announce closing of a private financing for Elastic Path Software Inc. (“Elastic Path”). BCP has invested $5.0 million through a combination of convertible debt and term facilities to support the accelerated growth of Elastic Path (www.elasticpath.com). Additional terms of the financing were not disclosed.
Elastic Path is at the forefront of digital commerce serving market leaders such as Google, Pearson, Symantec, Time Inc., Virgin Media and Western Union, which all use Elastic Path to drive billions of dollars in digital commerce annually. Elastic Path’s core platform is focused on creating a unified digital experience through the integration of content, commerce and data services for enterprises, and across every digital touchpoint for consumers.
Randy Garg, Managing Partner of BCP commented “We are very excited by the opportunity to invest in Elastic Path. While e-commerce solutions have generally been around for well over a decade now, the unique integrated approach being taken by Elastic Path, is being recognized by customers, partners, and the industry at large. With an established team, world-class technology platform led by its new Cortex offering, and proven track record of serving some of the world’s largest customers, the company is extremely well positioned to now accelerate its growth.”
Harry Chemko, CEO of Elastic Path commented "This investment comes at a time of tremendous growth opportunities in our business, driven in large part by the introduction of our Cortex API technology. We wanted to have the flexibility to structure deals with our customers and partners in a manner that was not only best for them, but also for the long term value of our business going forward. By having a highly flexible financing structure and partner in Beedie Capital, we are able to now do so while not compromising the size and scope of opportunities being pursued. We are very excited to have a new partner of this caliber join us."
About Beedie Capital Partners
Beedie Capital Partners ("BCP") provides highly flexible growth financing solutions for small to mid-market companies across a wide variety of industry sectors. Managed by a small core team of decision makers, BCP is highly responsive, creative and flexible with terms, timing and transaction structure. BCP has been actively investing since its establishment in early 2011, with 13 portfolio investments (current and past) and over $70 million invested or committed since inception. BCP is fully funded by Beedie Development Group, British Columbia’s largest private industrial landlord and developer, established in 1954.
About Elastic Path
Elastic Path empowers people to create value from innovative digitial experiences. Our software seamlessly adds omnichannel ecommerce, subscriptions, and legacy systems connectivity to digital engagement platforms from Adobe, OpenText®, and others, enabling companies to deliver outstanding customer experiences that maximize engagement and conversion. Every year, we generate billions of dollars in digital revenue for the world's best brands — including Google, Pearson, Symantec, Time Inc., Virgin Media, and Western Union. Please also visit www.elasticpath.com for further information