Canadian specialty finance firm Wellington Financial has committed US$10 million in venture debt financing to Exinda Inc. Based in Toronto, Exinda is a provider of network orchestration solutions for real-time business applications. Wellington said the company has shown “consistent growth both in revenue and profitability” since Wellington first invested in 2012. Founded in 2002, Exinda is backed by U.S. venture capital firms OpenView Venture Partners and Greenspring Associates. Along with its Toronto headquarters, the company has primary offices in Waterloo and Boston, Massachusetts. The Exinda deal comes on the heels of Wellington’s investment in Acquisio Inc.
Wellington Financial Provides New US$10 Million Growth Capital Facility to Exinda
Toronto, ON (May 2, 2016) – Wellington Financial LP, a privately-held specialty finance firm, announced today that it recently closed a US$10 million venture debt financing for Exinda, a company dedicated to delivering the best application performance possible on its clients’ networks. Its solutions help IT teams manage the way users, traffic, devices and applications behave across networks. To date, more than 4,000 customers have placed their trust in Exinda to help them understand the various application types running and orchestrate the perfect network to match their business needs. The Company is headquartered in Toronto and has a significant development operation in Waterloo, Ontario. OpenView Venture Partners and Greenspring Associates are the lead equity backers of Exinda.
“Wellington first entered into a relationship with the Company back in 2012,” said Mark Usher, Partner at Wellington Financial. “Since that time, we have been pleased by the consistent growth both in revenue and profitability that Exinda’s leadership team has delivered. Wellington’s True Growth Capital has played an important role in management’s execution of its business plan and we look forward to continuing our partnership for many years to come.”
Michael Sharma, CEO of Exinda added, “Wellington Financial has been a great partner for us over the past few years. We are excited that they have demonstrated a renewed commitment to supporting the growth of Exinda with this new facility and look forward to generating great returns for our collective investors and valued clients.”
About Wellington Financial LP
Wellington Financial LP is a privately-held specialty finance firm providing term, venture and amortizing loans up to $40 million. Wellington Financial LP is currently managing a $900 million investment program with offices in Menlo Park, Santa Monica and Toronto. Wellington Financial LP is managed by a partnership controlled by fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to the Fund. LPs include several of Canada’s largest institutional investors, crown corporations, financial institutions and pension funds. Please visit the fund website at www.wellingtonfund.com.
For additional information:
On behalf of Wellington Financial LP
Wellington Financial LP
Tel: (416) 682-6007
Photo courtesy of Exinda Inc