Last Call Analytics
Last Call Analytics is the developer of a big data analytics and visualization platform for the beverage & alcohol industry. The company was transitioning from a project-based model to a SaaS revenue model. It planned to raise equity in a Series A to expand the sales funnel and convert existing contracts.
While a Series A was within reach, it would have caused dilution for existing shareholders and would have taken time.
FirePower's lending team recognized the company provided significant EV coverage and strong recurring contract value, combined with a well-marked pipeline for 2017 and a top-tier product.
The team quickly proposed a senior facility with a 12-month term (interest rate only, no warrants), which could be extended if recurring revenue milestones were met. This allowed the company to have the certainty of available capital as the business plan played out, while reducing interest cost as only a portion of the facility was required upfront.
F12.net (“F12”), a leading Canadian Managed Service Provider (MSP), was executing on a highly successful acquisition strategy. The FirePower team built a comprehensive target list and crafted a story emphasizing F12’s amazing corporate culture. Of the potential targets, Apps on Tap represented an exciting synergistic addition for F12. With FirePower’s support, F12 acquired Apps on Tap in May 2018.
LEAP Group was formed to acquire the assets of Metal Networks, an online quoting platform for metals procurement based in Austin, Texas. FirePower arranged a compelling deal structure for LEAP in this distressed situation.