Runway Growth Capital Provides Additional $20 Million Growth Investment to Elevate
Rhea-AI Summary
Runway Growth Capital has provided an additional $20 million growth investment to Elevate, a leading provider of legal software and services. This investment builds upon a previous $40 million commitment made by Runway in 2023, bringing the total funding to $60 million. The capital will support Elevate's continued growth and innovation in the legal technology sector.
Brad Pritchard, Managing Director at Runway, expressed enthusiasm for the partnership with Elevate, highlighting the company's position as a market leader. Liam Brown, Chairman and CEO of Elevate, stated that the investment demonstrates confidence in their strategy and will enable the pursuit of inorganic growth opportunities.
AI-generated analysis. Not financial advice.
Positive
- Additional $20 million growth investment secured
- Total funding from Runway increased to $60 million
- Enables pursuit of inorganic growth opportunities
- Reinforces partnership with a leading growth capital provider
Negative
- None.
News Market Reaction – RWAY
On the day this news was published, RWAY gained 0.59%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Building on a previous commitment of
"We are thrilled to continue our partnership with Elevate, a market leader in legal software and services," said Brad Pritchard, Managing Director at Runway. "This additional funding underscores our commitment to supporting the long-term growth of Runway's portfolio companies."
Elevate is a fast-growing innovation leader in the legal industry. Its success aligns with Runway's aim to partner with high-quality, late-stage companies poised for significant growth.
"We appreciate Runway's partnership and belief in our vision," said Liam Brown, Chairman and CEO of Elevate. "This investment is a strong vote of confidence in our strategy, execution, and team and will enable us to pursue inorganic growth opportunities."
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
About Elevate
Elevate is an expert-led, software-powered law company. Elevate provides software and services for the intersection of business and law. Elevate's legal, business, and technology professionals offer practical ways for global law departments and law firms to improve efficiency, quality, and business outcomes. For more information on Elevate, please visit their website at www.elevate.law.
Forward-Looking Statements
Statements 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.
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SOURCE Runway Growth Capital LLC