Runway Growth Capital, a leading provider of growth loans to venture and non-venture-backed companies seeking an alternative to raising equity, announced a $20 million growth capital commitment to Elevate (a leading consulting, technology, and services provider for law departments and law firms). This investment upsizes the previous $40 million senior secured term loan provided by Runway in 2023.
Elevate is an innovation leader in the legal industry. And its success aligns with Runway’s aim to partner with high-quality, late-stage companies poised for significant growth.
Runway Growth Capital is the investment advisor to investment funds, including Runway Growth Finance Corp., a business development company, and other private funds. These funds lend growth capital to companies seeking an alternative to raising equity.
Headed by industry veteran David Spreng, these funds provide senior term loans of $10 million to $75 million to fast-growing companies based in the US and Canada.
Elevate offers software and services for the intersection of business and law. Elevate’s legal, business, and technology professionals provide practical ways for global law departments and law firms to improve efficiency, quality, and business outcomes.
KEY QUOTES:
“We are thrilled to continue our partnership with Elevate, a market leader in legal software and services. This additional funding underscores our commitment to supporting the long-term growth of Runway’s portfolio companies.”
- Brad Pritchard, Managing Director at Runway
“We appreciate Runway’s partnership and belief in our vision. This investment is a strong vote of confidence in our strategy, execution, and team and will enable us to pursue inorganic growth opportunities.”
- Liam Brown, Chairman and CEO of Elevate
