Espresso Capital announced today that it has provided Toronto-based Thentia, a global leader in regulatory and compliance software, with a new upsized $2.5 million debt facility. The company, which first secured venture debt financing from Espresso in September 2018, will use the additional capital to support its continued growth and expansion into new markets.
“We chose to work with Espresso because of its long history and expertise in supporting innovative technology companies,” said Julian Cardarelli, Thentia’s Chief Executive Officer. “Beyond just capital, Espresso has given us valuable advice and support, helping us to significantly improve our business offerings and accelerate our growth over a short period of time. We’re excited to be expanding our partnership at this important time for the company.”
Thentia’s core database technology was created specifically for regulatory bodies, licensing boards, and private businesses worldwide, helping them to streamline their operations in regulation, compliance, and governance. Today, leading regulatory agencies and hundreds of thousands of licensees rely on Thentia’s primary platform, Open Regulate. This turn-key regulatory database powers a comprehensive suite of user application modules and portals that support all critical regulatory standards and workflows.
Thentia has already established Open Regulate’s brand presence across various states in the US and plans to use the additional capital to win the US market with the launch of two innovative new products, Smart Govern and Metrics Hub.
“Thentia has a demonstrated track record of delivering critical value for their clients, helping them to deliver better service to their stakeholders, manage risk, and drive efficiencies with their cutting-edge platform,” said Will Hutchins, Managing Director of Espresso Capital. “We’re looking forward to continuing our partnership and to working with the Thentia team as the company builds on its position as the leading provider of regulatory and compliance software solutions.”
About Espresso Capital
Since 2009, Espresso Capital has provided over 250 early and growth stage technology companies with founder friendly capital. The company offers lines of credit and term loans to enable entrepreneurs to grow their businesses without dilution or board seats. Espresso’s mission is to keep founders in control with fast, fair, and flexible capital. For more information, please visit www.espressocapital.com.
Based in Toronto, Canada, with offices in the United States and the United Kingdom, Thentia, a leader in regulatory and compliance software, provides database technology that was created specifically for regulatory bodies and private businesses to stay on top of their regulatory compliance obligations. For more information, please visit www.thentia.com.
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Marketing Manager, Espresso Capital