Linxup, a St. Louis, MO-based GPS tracking, telematics, and fleet management provider, has secured $50 million in debt financing.
SaaS Investors
The investment was from Runway Growth Capital LLC.
Runway Growth Capital LLC is a provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity. The firm is the investment advisor to investment funds, including Runway Growth Finance Corp., a business development company, and other private funds. These funds provide senior term loans of $10 million to $100 million to fast-growing companies based in the United States and Canada.
Linxup Use of Funds
The company plans to use the capital as operating funds and to refinance existing debt.
About Linxup
Founded in 2004, Linxup, formerly known as Agilis Systems, offers software to small and mid-sized businesses to help them manage their fleets, including GPS tracking technology for commercial vehicles and assets. Linxup provides easy-to-use and implemented vehicle tracking, asset tracking, and AI-enabled dashcams combined with software solutions, such as reporting, alerting, and dashboards, to customers who operate fleets of commercial vehicles. The company's technology tracks 230,000 vehicles and assets for firms across 20-plus industries. Linxup is headquartered in St. Louis, MO, with an additional satellite office in Charlotte, NC, and a remote workforce around the US.
Funding Details
Company: Linxup, LLC.
Raised: $50.0M
Round: Debt Funding
Funding Month: November 2023
Lead Investors: Runway Growth Capital LLC.
Additional Investors:
Company Website: https://www.linxup.com/
Software Category: GPS Solutions
Source: https://www.prnewswire.com/news-releases/runway-growth-capital-provides-a-50-million-debt-commitment-to-linxup-301995078.html