Cloud-based software company xMatters announced Tuesday that it has received a $42 million long-term funding facility from Golub Capital.
The company will use the loan to support current and future global expansion plans, chief executive officer Troy McAlpin said in the statement.
xMatters, a JMI Equity portfolio company, provides a communications platform for digital-focused companies to respond to interruptions in technology infrastructure vital to business operations, due to natural disasters, medical emergencies, IT failures and more. Founded in 2000, xMatters' clients include Conocco Phillips, 3M, Denver International Airport and others.
“xMatters is a rapidly-growing market leader in providing enterprises with critical incident communication and resolution tools,” Golub managing director Peter Fair said in xMatters' statement. “The company's solutions demonstrate a proven ROI in a world where downtime and disruptions have immediate, negative impacts on a company's bottom-line.”
Golub's loan came from the firm's late stage lending business line, which supports technology companies by offering loans of between $15 million and $100 million across a variety of sub-sectors.
Last month, Golub provided a $375 million term loan from the platform to support Vista Equity Partner's acquisition of Marketo, a company offering marketing and relationship management software.
Golub is a credit asset manager founded in 1994. The firm has $18 billion in capital under management and maintains distinct business lines in mid-market lending, late stage lending and broadly-syndicated loans.
JM Equity is a software-focused growth equity firm founded in 1992. Its investments typically range between $15 million and $100 million and across industries including energy and utilities, healthcare IT, cloud computing and others. The firm has $3 billion in committed capital and maintains offices in Baltimore and San Diego.