Runway Growth Capital, a provider of growth loans to both 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, a provider of digital experience management, customer journey orchestration, and advanced analytics solutions.
The financing also includes a $45 million Series D investment led by Updata Partners, a Washington, D.C.-based growth equity firm focused on technology.
This capital will enable Piano to optimize its platform, expand its market presence, and support strategic growth initiatives.
Founded in 2010, Piano offers an end-to-end platform that allows enterprises to more quickly identify, understand, and serve their customers. The Piano platform leverages unique data architectures that operate at massive scale and at orders of magnitude faster than competing solutions. This product 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.
“This financing from Runway Growth Capital provides us with the resources to further enhance our platform and accelerate our growth strategy,” said Trevor Kaufman, CEO of Piano. “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.”