WOODSIDE, California, February 10, 2022 – Runway Growth Capital LLC (“Runway”), a leading provider of growth loans to both venture and non-venture backed companies seeking an alternative to raising equity, today announced the close of a senior secured term loan commitment of $30 million to EPIC IO Technologies, a global leader in solving Big Data challenges in multiple markets, by leveraging Artificial Intelligence, Internet of Things, and 4G/5G wireless connectivity through its open and vendor-agnostic platform, DeepInsights™.
The growing Runway venture debt portfolio seeks to capitalize on market opportunities where large, established businessessuch as EPIC IO Technologies can benefit from debt financing to invest in capital efficient growth.
“We are seeing increasing demand for growth financing from established businesses like EPIC IO Technologies, who have proven technology, a good market-fit, and a solid customer base,” said Mark Donnelly, Managing Director, Head of Origination at Runway Growth Capital. “As private equity-backed companies look to better understand how flexible loan options may serve their business needs, Runway is stepping in to educate the market and enable them to achieve their goals for growth.”
Donnelly continued, “We are thrilled to include EPIC IO Technologies in Runway’s portfolio of innovative companies and support their effort to develop and deliver the world-class technology that will safely and securely shape our world.”
“This injection of capital will help us not only get to the next level but arrive in a meaningful way,” said Ken Mills, CEO of EPIC IO Technologies. “Runway is an experienced growth partner capable of structuring the right loan to meet the working capital demand we face in the IOT space, in order to rapidly build into the next chapter of EPIC IO Technologies.”
“EPIC IO Technologies confronts enormous growth opportunities in its mission to create a safer, smarter, more connected world,” said Ke Ding of DFW Capital Partners. “Runway is an ideal partner to provide sophisticated debt growth capital to EPIC IO Technologies to tackle those opportunities. With DFW Capital and Runway’s support, EPIC IO Technologies will continue its buildout of platform IP and infrastructure, continue to drive customer satisfaction and delight, and continue to deliver tangible, robust, and meaningful real-world solutions to customers via its end-to-end IoT solutions.”
About Runway Growth Capital LLC
Runway Growth Capital LLC is the investment advisor to investment funds, including Runway Growth Finance Corp. (Nasdaq: RWAY), a business development company, and Runway Growth Finance LP, 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 $10 million to $75 million to fast-growing companies based in the United States and Canada. For more information on Runway Growth Capital LLC and its platform, please visit our website at www.runwaygrowth.com.
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 Growth’s filings with the Securities and Exchange Commission. Runway Growth 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.
About EPIC IO Technologies
EPIC IO Technologies, headquartered in Fort Mill, SC is an international technology holding company focused on wireless connectivity, innovative enriched-data analytics platforms, and outcome-based technology solutions powered by IoT and AI. For more information, visit www.EPICIO.com
About DFW Capital
DFW Capital Partners is a private equity investment firm focused on lower middle-market companies. The firm concentrates on service companies, with an emphasis on healthcare and outsourced technology-enabled business and industrial support services. DFW has established a 20+ year track record of success in both building leading companies and recognizing attractive returns for its investors. DFW is headquartered in Teaneck, New Jersey. For more information, visit www.dfwcapital.com.