Nue accelerates growth with senior credit facility from Espresso Capital
SAN FRANCISCO — October 2, 2024 — Espresso Capital announced today that it has provided Nue, a leading revenue lifecycle platform for modern businesses, with a senior credit facility. The company will use the capital to drive new sales, product, and marketing initiatives to further accelerate its strong growth.
Nue’s revenue lifecycle management platform manages everything from quote configuration to billing to revenue analytics for businesses with hybrid revenue models, including subscription, usage, or one-time pricing models. The platform includes a Salesforce-native “configure-price-quote” capability, an out-of-the-box lifecycle manager for customer and revenue lifecycle management, automated billing for every revenue model, and a unified data model that drives accurate revenue intelligence for go-to-market and finance teams.
“Venture debt has always been a part of our fundraising strategy,” says Nue CEO Mark Walker. “We love that it’s non-dilutive, helps to smooth out overall capital planning, and that it can be structured around the growth of our business. I also couldn’t be happier to be working with the Espresso team again, who have been trusted partners for many years now.” Walker previously secured a credit facility from Espresso while serving as the CEO of Strongpoint, an automated compliance company that was acquired by Netwrix in 2021.
“It’s an exciting time for the business,” says Walker. “More and more companies are moving from disconnected CPQ and billing systems to unified revenue lifecycle management systems like Nue. Our market leading end-to-end solution is easier to use, more efficient, and more cost effective than existing legacy technologies. I’ve always had great experiences working with Espresso and have every confidence that this time around will be no exception. I really like their team and the way that they do business.”
“Mark is building another great company with strong backers in Information Ventures Partners and Bluefish Ventures, an experienced management team, and proven early success,” says Espresso Managing Director, Will Hutchins. “Nue’s customers are responding favorably to the company’s value proposition and appreciate that the platform has a lower total cost of ownership, is faster to implement, and is easier to use than other solutions.”
“Nue is at an exciting inflection point in their journey and we are thrilled to see that they are partnering with Espresso Capital to build on that opportunity,” says Information Venture Partners’ Co-Founder and General Partner, Robert Antoniades. “Venture debt is a great complement to equity and will help position Mark and the team to scale the business successfully.”
About Nue
Nue is an easy-to-manage, omni-channel Revenue Lifecycle Platform designed to meet the needs of the modern business to innovate and manage their customer revenue lifecycles end-to-end. With Nue, all go-to-market teams can accelerate sales with innovative pricing models and streamlined processes (across both direct sales and self-service commerce) so that companies can easily manage quotes to orders to renewals to billing – all the while delivering accurate analytics to Finance. Learn more at nue.io.
About Information Venture Partners
Information Venture Partners is a Toronto-based team of experienced venture capital investors focused on backing the next generation of leaders transforming financial services. Current investments include Arteria AI, BigID, Cinchy, Coconut Software, Empyrean Solutions, Flybits, FX HedgePool, Helcim, Jirav, LendingFront, Lydia AI, Nue.io, Procurify, Strike Graph, ThoughtExchange, and Wisedocs. For more information, please visit www.informationvp.com.
About Espresso Capital
Espresso Capital has been empowering fast-growing technology companies with innovative venture debt solutions since 2009. During this period, we’ve funded over 330 companies in the U.S., Canada, and the U.K., helping to accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Espresso is headquartered in Toronto, with offices in San Francisco, Chicago, and London. To learn more about how you can use venture debt to grow your business, visit espressocapital.com.