Runway Growth Capital has provided a $13 million term loan commitment to Dejero, a Waterloo, Ontario-based telecommunications aggregator of diverse connectivity paths. The proceeds will support the company’s growth. Last year, Canadian technology private equity firm Vertu Capital led a C$60 million minority recapitalization of Dejero.
WOODSIDE, Calif., Feb. 16, 2022 /PRNewswire/ — 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 term loan commitment of $13 million to Dejero, a telecommunications aggregator of diverse connectivity paths including LTE and 5G cellular, satellite and broadband to deliver enhanced reliability, expanded coverage, and greater bandwidth using cloud-based technology.
The loan welcomes Dejero back to the Runway portfolio and continues the firm’s commitment to their growth.
“We are pleased to reaffirm our commitment to Dejero, who is a proven and strategic portfolio company for Runway,” said Mark Donnelly, Managing Director, Head of Origination at Runway. “We take great pride in being a flexible, steady partner for all our borrowers. It’s affirming when a strong portfolio company decides to return to Runway for a growth loan. We believe in Dejero’s business and we are excited to continue our support and aid in their maturation and ongoing success.”
“Runway is an enduring partner who intimately understands our business, which has enabled them to mindfully tailor our loan,” said Bobbi Holte, CFO of Dejero. “Coming back to Runway was an easy decision. The growth loan infuses incremental capital that will help us continue to grow, diversify our suite of products and services, and make them more readily available to companies who can benefit from network aggregation.”
“We share Dejero’s vision for the networking market and believe they have the potential to be a critical player in the future of 5G and cloud connectivity,” explained Donnelly. “Runway takes pride in being able to continue our support for proven, trusted companies like Dejero.”
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 other private funds, 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.
Driven by its vision of reliable connectivity anywhere, Dejero aggregates diverse connectivity paths including LTE and 5G cellular, satellite and broadband into a virtual ‘network of networks’ to deliver enhanced reliability, expanded coverage, and greater bandwidth using cloud-based technology. A two-time technical Emmy® Award winner, Dejero is trusted to solve the mission-critical live video transport and real-time data transfer challenges of organizations around the world. Founded in 2008, privately-held Dejero is headquartered in Waterloo, Ontario, Canada. For more information, visit www.dejero.com.