Less than a year after partnering with Runway, Drawbridge was acquired by LinkedIn in May 2019.Start A Project
In October 2018, Drawbridge, was transitioning its business from one with large accounts receivable balances to a SaaS model. With backing from Sequoia Capital and Kleiner Perkins, the company sought to complement its equity with additional capital from a reliable and collaborative lender to support it.
During this period of transition, Drawbridge needed to find the right partner quickly to be able to then focus on the fundamentals of the product and the new business model. Runway swiftly conducted comprehensive due diligence and saw great potential in their product offering. The firm structured a deal that allowed Drawbridge to not only pay back an existing bank loan, but provided enough additional capital to grow.
Less than a year later, Drawbridge was acquired by LinkedIn. By using debt financing instead of equity financing, Drawbridge avoided unnecessary dilution and its key stakeholders were able to be in an advantageous position at the time of acquisition.
"It goes without saying that Runway was integral to the success of our business during a critical transition period. They acted quickly in a time of need and were a smart, reliable, and collaborative partner. I wouldn’t hesitate to recommend them to fellow entrepreneurs seeking growth capital."
Kamakshi Sivaramakrishnan, Founder & CEO, Drawbridge
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