Runway’s recognition highlights its unwavering support for entrepreneurs through minimally dilutive capital solutions.
MENLO PARK, Calif., Oct. 29, 2024 /PRNewswire/ — Runway Growth Capital LLC (“Runway”), a leading provider of growth loans to venture and non-venture-backed companies seeking an alternative to raising equity, is proud to announce its inclusion in Inc. Magazine’s 2024 Founder-Friendly Investors list. This marks another significant achievement for the firm, reinforcing its reputation as a trusted financial partner dedicated to empowering entrepreneurs by offering capital solutions that allow founders to maintain ownership of their businesses.
“It has been a complicated few years for growth companies and the companies that fund them,” said Mike Hofman, editor-in-chief of Inc. “So we are happy to share with our readers the best, latest guidance on which venture capital firms, private equity firms, and growth-capital lenders have the track record and reputation of being especially good partners to founders and CEOs.”
The prestigious list celebrates the investors who believe in backing founder-led businesses and helping them thrive. All companies on the list have successful track records of collaboration and remaining actively involved with the businesses they invest in.
“Our inclusion on Inc.’s Founder-Friendly Investors list underscores our commitment to building meaningful relationships with founders,” said David Spreng, Founder and CEO of Runway. “By offering venture debt, a less dilutive alternative to equity, we enable entrepreneurs to retain more control of their companies while supporting them through their growth journey.”
Runway’s investment philosophy centers on collaboration with its borrowers, focusing on trust, transparency, and long-term partnership. Founded in 2015, the firm has distinguished itself as a key player in venture lending, helping high-growth companies across varied industries access non-dilutive financing. Since its inception, Runway has partnered with 83 companies, providing capital to businesses with a clear path to profitability and issuing over $3.2 billion in total loan commitments.
A recent example of Runway’s commitment to its portfolio companies is its partnership with Elevate Services, Inc. (“Elevate”), a leading global provider of software and services to legal departments and law firms. In 2024, Runway provided $20.0 million in growth capital to Elevate, building on the $40.0 million committed by Runway in 2023. The additional investment reaffirmed Runway’s confidence in Elevate’s strategy and underscored Runway’s dedication to supporting the long-term growth of its portfolio companies.
Runway has executed several similar upsizes, maintaining strong confidence in its investments and consistently supporting founders through both challenges and successes. In the fourth quarter of 2023, Runway provided a $65.0 million investment to existing portfolio company Synack, Inc. (“Synack”), a developer of a crowdsourced security testing platform, funding $40.0 million at close. This investment refinanced a $60.0 million senior secured term loan previously provided by Runway. Also in the fourth quarter of 2023, Runway added a $30.0 million investment to its existing portfolio company, Bombora, Inc. (“Bombora”), a marketing technology and data company, funding $28.0 million at close, which upsized the previous $20.0 million senior secured term loan provided by Runway to Bombora.
Introduced in 2019, the Founder-Friendly Investors list has become a go-to guide for entrepreneurs who want to grow their companies while retaining an ownership stake.
To see the complete list, go to: https://www.inc.com/founder-friendly-investors/2024
The November 2024 issue of Inc. magazine is available online now at https://www.inc.com/magazine and will be on newsstands beginning October 29.
Legal DisclosureThe award for Runway’s advisory services has been given by a non-advisory client. A cash compensation entry fee was given in association with the award. Any compensation may create a conflict of interest. For more information on Inc.’s award selection process click here.
About Inc.Inc. is the leading media brand and playbook for the entrepreneurs and business leaders shaping our future. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work achieves a monthly brand footprint of more than 40 million across a variety of channels, including events, digital, print, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since its launch as the Inc. 100 in 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.
About Runway Growth Capital LLCRunway 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.
Forward-Looking StatementsStatements included herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition, or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Runway’s filings with the Securities and Exchange Commission. Runway undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
SOURCE Runway Growth Capital LLC
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