Apttus raises $75 million

Since Fountain Partners first provided financing to Apttus in 2014 the San Mateo company has expanded its product set and customer counts at an accelerating rate. Apttus has grown way beyond “quote to cash” software to a full suite including contract management, revenue management, price quote optimization and more. Apttus had been reported to be planning for an IPO during 2017 following a $55 million equity round that valued the company in excess of $1 billion. In May, 2018 Golub Capital announced that it had provided $75 million in debt financing to...

Urban Remedy closes $17 million round led by 301 Ventures

Urban Remedy produces excellent tasting, good for you, non GMO, fresh beverages, meals and snacks out of Point Richmond in the bay area. The company has had Fountain’s support since 2016 when we helped fund the company’s plans to double its number of retail locations and expand product distribution throughout all NorCal Whole Foods and eventually all of Southern California as well. We welcome General Mill’s 301 Ventures arm to the equity syndicate backing the next leg of growth for this great local success story. Learn more at...

Tesla Supplier Futuris Acquired by Adient

Adient announced that it completed the acquisition of Futuris for $360 million.  Futuris had been spun out of an Australian holding company with backing from Merv Dunn and Clearlake Capital.   Fountain Partners became involved when Futuris began supplying seating for Tesla’s Model S.  Fountain financed the initial set of equipment in Tesla’s Fremont factory as well as Futuris’ build out of its new space in...

Fountain Partners Provides $13 Million In Lease Lines of Credit to DigitalOcean

SAN FRANCISCO, Calif., April 29, 2014 — Fountain Partners announced it has provided a total of $13 million in equipment lease lines of credit to DigitalOcean, the world’s fastest growing cloud provider. The lease lines are helping DigitalOcean grow its customer base by expanding data centers worldwide, including new centers in Amsterdam and Singapore, as well as their first center in London opening this summer. Karl Alomar, COO of DigitalOcean, said his company began using an initial $3 million lease line of credit in 2013 — its first independent line for direct leases — to increase servers at its U.S. data centers, which were straining to handle 30%-35% month-on-month customer growth. DigitalOcean can add more than 4,000 customer accounts for every $1 million worth of servers. “More recently, Fountain Partners came in ahead of the pack again and offered another $10 million, becoming our first eight-figure line,” he said. Fountain recognized DigitalOcean’s need for international capacity with this lease line of credit that included $5 million for overseas expansion. “We had some international capacity before, but this was the first significant chunk of financing dedicated to international infrastructure. This helped us expand in Amsterdam and launch the Singapore data center this year with confidence,” Alomar said. “Fountain Partners understood the business model and got into the weeds of the business model more so than other financing providers. They had good foresight, business understanding, and they knew the market well. They were able to see the opportunity,” Alomar noted. “Fountain Partners was more entrepreneurial in thinking… interested in the direction the company was going rather than just where it was.” DigitalOcean currently...