MENLO PARK, Calif., November 21, 2023 – Runway Growth Capital LLC (“Runway”) has announced a $50 million debt commitment to Linxup. Linxup enables businesses to monitor vehicle locations, optimize routes, improve driver behavior and maintain better control over their assets. Linxup provides vehicle tracking, asset tracking, and supports AI-enabled dash cams. Customers use Linxup’s solutions to get insight into their fleet. Moreover, they aim to reduce fuel costs, increase efficiency, reduce risk, and improve driver safety.
“We are excited to invest in Linxup as we believe the company is uniquely positioned as a leading provider of IoT solutions that are tailored to SMB-focused fleets,” said Brian Sapp, Managing Director at Runway. “Linxup is at the forefront of GPS tracking and vehicle data. Their seasoned senior management team also attracted us.”
“We selected Runway because of their flexible working capital. Their non-dilutive terms will aid our business operations,” explained Drew Reynolds, CEO of Linxup. “We will use this debt commitment to execute on our ambitious plan and to accelerate our growth. Moreover, Runway is the ideal partner to collaborate with to set us up as a leader in fleet management and asset tracking.”
Linxup has its headquarters in St. Louis, MO, with an additional satellite office in Charlotte, NC, and a remote workforce spread across the US.
Armentum Partners acted as financial advisor to Linxup for the debt transaction.
