LEONID Announces Growth Equity Investment in Litocorp to Expand Product Offerings and Fund Future Contract Captures

LOS ANGELES, April 26, 2022 /PRNewswire/ -- LEONID, a leading government contracting financing partner and a Department of Defense (DoD) Trusted Capital Provider, today announced that they have closed a major round of funding for Litocorp, a Service-Disabled Veteran-Owned Small Business, Minority-Owned Small Business (SDVOSB/MOSB), headquartered in Las Vegas, NV.

LEONID's mission-oriented funding model was developed to drive meaningful impact. The company partners with innovators who deliver highly technical solutions that propel social and economic progress. Historically, 40 percent of LEONID clients secure additional contract offers post-transaction within two quarters post-financing, and average an 80 percent increase in revenues.

"Litocorp's culture and vision closely align with our mission to serve customers and support projects that bring the most good to our country's collective future," explained LEONID co-founders Christopher Lay and James Parker.  "Over the last several years, we've followed Litocorp's momentum and value the opportunity to provide critical capital that will fuel their growth and pave the way for continued success in the market."

Litocorp pursues Small Business Innovation Research contracts and facilitates in-house consulting engagements with SMBs interested in exploring the Defense industry. The company actively supports warfighters and veterans through a private peer-support technology platform called 'battlebuddy.'  

Building upon success in recent years, Litocorp will use the LEONID capital to accelerate the commercialization of its TUFKIT tactical computer technology, which provides compute power with simplicity and reliability for military operators in hostile and austere environments.

"Investment from industry leaders like LEONID is critical in helping us reach the next stage of our growth," said William (Bill) Davis, CEO of Litocorp. "We're putting fuel on the fire of our successful TUFKIT platform, which allows us to continue building public-private partnerships within the defense-entrepreneurial ecosystem. We are fortunate to collaborate with like-minded individuals towards a common goal: to rapidly deliver capabilities to the tactical edge, where our warfighters need it most."

Lito Villanueva, Litocorp's founder and CTO, explained, "I believe we've been able to build great products for our customers because we've had the privilege to experience their struggles together, both in and out of uniform."

As an extension of LEONID's 50 percent profit give-back program, LEONID has allocated a portion of its position to the Special Operations Association of America.

About LEONID

LEONID is a financial services platform supporting U.S. Federal Government contractors. As an official Department of Defense Trusted Capital Provider, LEONID offers advance financing on SBIR and STTR contracts and funding for unpaid invoices up to $10,000,000. The firm helps companies improve their working capital position to support finance growth strategies and manage operating expenses. LEONID contributes 50 percent of net profits to mission-oriented charitable causes that are committed to veterans' causes and warfighter support. Learn more at leonidfinance.io.

SOURCE LEONID