Runway Growth Capital, a leading provider of growth loans to venture and non-venture-backed companies seeking an alternative to raising equity, announced its role as the lead lender in a $75 million senior secured term loan facility that is part of a $120 million financing to Piano, which is a global leader in digital experience management, customer journey orchestration, and advanced analytics. This financing also included a $45 million Series D investment led by Updata Partners, a Washington, D.C.-based growth equity firm focused on technology. This funding will enable Piano to optimize its platform, expand its market presence, and support strategic growth initiatives.
Launched in 2010, Piano offers an end-to-end platform allowing enterprises to quickly identify, understand, and serve their customers. The Piano platform utilizes unique data architectures that operate at massive scale and orders of magnitude faster than competing solutions. This product also helps global, national, and local brands and publishers achieve revenue growth while empowering teams to launch relevant audience experiences seamlessly, at scale, and with complete privacy compliance.
With headquarters in Philadelphia, PA, and a presence in over 15 offices worldwide, including Amsterdam, Paris, Singapore, Berlin, Buenos Aires, New York, and Tokyo, Piano offers a diverse client base across six continents.
KEY QUOTES:
“Piano’s innovative approach to digital experience management and its market leadership position makes it an ideal partner for Runway. We are excited to support Piano’s continued expansion and their commitment to delivering exceptional solutions to their clients.”
- Jeff Goldrich, Managing Director at Runway
“This financing from Runway Growth Capital provides us with the resources to further enhance our platform and accelerate our growth strategy. We appreciate Runway’s confidence in our vision and look forward to advancing our mission to empower businesses with the tools they need to understand and influence customer behavior.”
- Trevor Kaufman, CEO of Piano
“The range of industries and business problems Piano is able to address with its technology is incredibly impressive. The Piano team has built a truly industry-leading technology and we are thrilled to be a part of their continued success.”
- Ted Cavan, Managing Director at Runway Growth Capital
