NEWPORT BEACH, Calif., May 6, 2016 /PRNewswire/ -- Accelerize Inc. (OTCQB: ACLZ) (OTCBB: ACLZ), a leader in marketing technology solutions, today announced a new $8 million credit facility from SaaS Capital, the pioneer provider of Committed Credit Facilities to SaaS companies. The funds will be used to retire the outstanding balance of the Company's current credit facility (approximately $4.6 million as of December 31, 2015), drive global sales growth of its CAKE digital marketing solutions into new and existing markets, and further its leading position in digital marketing software through continued product innovation. Accelerize recently reported record full-year 2015 revenue with 30% year-over-year sales growth and achieved profitability on an adjusted EBITDA basis in Q4.
"We are pleased to have secured this new facility with SaaS Capital, a partner who truly understands the SaaS business model. It provides us with significant, efficient capital to grow for the foreseeable future," said Anthony Mazzarella, CFO at Accelerize. "This new facility is substantially larger than our previous line of credit and features a structure and covenants designed specifically for growing SaaS companies. With this new larger and more flexible facility we are focused on accelerating our revenue growth and increasing bottom-line profitability. We also look forward to exploring strategic opportunities to further enhance the value of our Company for the benefit of our stockholders."
Accelerize owns and operates CAKE, a marketing technology provider of solutions that track and analyze the performance of digital marketing spend, in real-time. CAKE's powerful software-as-a-service (SaaS) enterprise platform is an industry standard for affiliate networks, advertisers, publishers and agencies to measurably improve and optimize campaign performance and return on investment.
Digital media will continue its meteoric rise and marketers are being driven to invest more in technology to optimize their digital marketing spend. According to Statista, worldwide digital ad spending grew 16.4% last year, to $170.1 billion, and it is projected to reach $252.02 billion by 2018. By the end of 2017, digital ad spend is expected to overtake TV as the biggest advertising category (Interpublic Group's Magna Global).
"Marketing is more important than ever and the CAKE product is at the center of that industry – if you don't understand the ROIs of your different marketing efforts, then you are being inefficient and ineffective. And it's not enough to just track one or two channels; CAKE optimizes marketing campaigns across all digital channels," said Rob Belcher, Managing Director of SaaS Capital. "The product, team, and track record are all very impressive and we're excited to partner with Accelerize for the next phase of the company's story."
SaaS Capital is the premier provider of Committed Credit Facilities to SaaS companies. Focusing exclusively on the SaaS business model, SaaS Capital delivers faster decisions, more capital, and longer commitments. SaaS businesses have used SaaS Capital's Committed Credit Facilities, instead of equity, to finance growth and create hundreds of millions in enterprise value without sacrificing significant ownership or control. Also, through its partnership with DH Capital, a boutique investment banking advisory firm, SaaS Capital can assist with M&A and capital raising services. SaaS Capital has offices in Cincinnati, New York, and Seattle. Visit www.saas-capital.com to learn more.
About Accelerize Inc.
Accelerize Inc. (OTCQB: ACLZ) (OTCBB: ACLZ) offers marketing technology solutions that revolutionize the way advertisers leverage their digital advertising data. For more information, visit www.accelerize.com.
Use of Forward-looking Statements
This press release may contain forward-looking statements from Accelerize Inc. within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. For example, when we describe our growth plan, when we say that the new credit facility will be used to drive global sales growth and further our leading position in digital marketing through continued product innovation, that we are focused on accelerating our revenue growth and increasing bottom-line profitability, that we look forward to exploring strategic opportunities to enhance value for stockholders, and when we describe the estimated size of digital ad spending, we are using forward-looking statements. These forward-looking statements are based on the current expectations of the management of Accelerize only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; our technology may not be validated as we progress further; we may be unable to retain or attract key employees whose knowledge is essential to the development of our products and services; unforeseen market and technological difficulties may develop with our products and services; inability to timely develop and introduce new technologies, products and applications; loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of Accelerize to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Accelerize undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting Accelerize, reference is made to Accelerize's reports filed from time to time with the Securities and Exchange Commission.
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SOURCE Accelerize Inc.