SaaS startup ZynBit bags $1 million in venture debt to accelerate its sales intelligence platform and grow its sales and marketing teams
ZynBit, a SaaS startup that enables organizations to operate Salesforce alongside email platforms such as Gmail and Microsoft Outlook, is starting the new year with $1 million venture debt funding from River SaaS Capital. ZynBit will use the proceeds to help fund its sales intelligence roadmap and scale its sales and marketing teams, according to a statement from River SaaS Capital.
Founded in 2015 by Phil Dixon, ZynBit’s mission is to provide sales enablement solutions which help Sales Professionals, Sales Leaders, and their companies consume better sales activity data insights and increase Salesforce adoption. ZynBit is a single solution to collect, track and analyze sales activity data, increase sales productivity and create an excellent customer experience. The solution provides insight and foresight to help customers make fast and intelligent decisions to accelerate revenue growth and expose gaps in sales pipeline. The company simplifies customer relationship management with automation and insights, thereby making it easier to attract, acquire, and retain more customers, CRM from their inbox.
River SaaS Capital, a private venture debt fund lending growth capital to Software as a Service (SaaS) companies, provides debt financing to growing SaaS businesses that prefer non-dilutive working capital to scale their business and expand the customer base without giving up ownership or board seats. River SaaS Capital offers fast, flexible financing solutions and typically lends between $500K to $1M initially to qualified new borrowers usually as 36-48-month term loans.
The Raleigh, North Carolina based ZynBit is one of the most popular applications on the Salesforce AppExchange. It builds intelligent sales automation for the next generation of leaders focused on revenue growth while delivering a superior customer experience. ZynBit helps companies leverage real-time information to out maneuver the competition, acquire and retain their ideal customers and attract top talent.
“The River SaaS Capital partnership is strategic for us at this stage, helping ZynBit to manage scale, cashflow and dilution,” said Phil Dixon, CEO at ZynBit. “We’ve been impressed with the River SaaS team’s responsiveness, flexibility and knowledge of our needs. We’re thrilled to join the River SaaS family.”
The funding from River SaaS will enable ZynBit’s management team to scale the business aggressively without giving up equity in the company. Furthermore, River SaaS has the flexibility to be able to invest additional capital as the company grows.
“ZynBit is an impressive organization,” said Wendy Jarchow, Chief Investment Officer of River SaaS Capital. “We’re thrilled they chose River SaaS as their capital partner and look forward to working with them to accelerate their growth.”