Toronto — October 6, 2021 — Espresso Capital announced today that it has provided Thentia, a global leader in government technology software as a service (SaaS), with a $15 million follow-on credit facility to support key investments and acquisitions as the company accelerates its rapid expansion into new markets.
Thentia and Espresso Capital first partnered in September 2018 on an initial venture debt round that helped the company expand its suite of enterprise technology solutions.
“In selecting Espresso as our lending partner back in 2018, I was convinced that their unique capabilities provided the best growth platform for Thentia,” said Julian Cardarelli, Thentia’s Chief Executive Officer. “This latest investment shows the confidence that Espresso has in Thentia to become the dominant player in the occupational licensing and government technology industries. We’re looking forward to continuing our work with Espresso and other key players in the investment ecosystem as we accelerate our growth in the Canadian, U.S., and EMEA markets.”
Partnering with Espresso on this $15 million financing will allow Thentia to continue to fuel its rapid ascent to the top of the GovTech ecosystem by enabling the company to execute on its key strategies while making important investments and acquisitions to enhance its core offerings, provide exceptional customer service to new and existing clients, ramp up its sales and marketing efforts to reach new audiences, and to introduce new products and services that deliver incremental revenue opportunities.
“We’re excited to expand our partnership with Thentia and to support the company on this next step in their growth journey as they continue to expand into new markets, further enhance their product, and accelerate their go-to-market strategy,” says Will Hutchins, Managing Director, Espresso Capital. “This upsized facility gives them the additional capital to expand their business while pursuing a number of important opportunities across North America and the EMEA region.”
Thentia raised its $10 million Series B round in May 2021 with Spring Mountain Capital and BDC Capital.
Founded in Canada, with operations in the U.S. and trusted by agencies in North America and worldwide, Thentia was developed by subject matter experts with a mission to transform GovTech through best-in-class technological capabilities. Its secure, modern and elegant solution, Thentia Cloud, is revolutionizing the way agencies manage data and licensing by bringing the entire process into the 21st century with speed, automation, ease of use, and best-in-class support. For more information, visit thentia.com.
About Espresso Capital
Espresso empowers companies with innovative venture debt solutions. Since 2009, we’ve helped more than 300 technology companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Learn more at espressocapital.com.