Westlake’s River SaaS Capital has provided $1 million in non-dilutive capital to ZynBit. The debt funding will help the 4-year-old SaaS provider scale sales and marketing for its Salesforce enablement solutions.
“ZynBit is an impressive organization,” River SaaS Capital CIO Wendy Jarchow said in a statement. “We’re thrilled they chose River SaaS as their capital partner and look forward to working with them to accelerate their growth.”
River SaaS is a private venture debt fund that lends growth capital to Software as a Service (SaaS) companies, such as Raleigh, North Carolina-based ZynBit — currently one of the most popular applications on the Salesforce AppExchange. With funding from River SaaS, ZynBit’s management team can scale the business aggressively without giving up equity in the company.
“The River SaaS Capital partnership is strategic for us at this stage, helping ZynBit to manage scale, cash flow and dilution,” said ZynBit CEO Phil Dixon. “We’ve been impressed with the River SaaS team’s responsiveness, flexibility and knowledge of our needs. We’re thrilled to join the River SaaS family.”