“With this new facility in place, we are focused on continuing to accelerate our revenue growth.”
Southfield, MI (PRWEB) November 10, 2016
PeachWorks, the leading restaurant back-office platform for chain and independent fast casual, casual, and fine dining operations, announced today that it has received an $800,000 credit facility from Dreadnought Capital LLC, a leader in offering revolving credit facilities to high-growth SaaS companies.
“Dreadnought Capital understands the dynamics and needs of rapid-growth SaaS companies,” said Jim Kanir, CEO of PeachWorks. “With this new facility in place, we are focused on continuing to accelerate our revenue growth.”
PeachWorks delivers restaurants a cloud based solution platform to drive efficiency and consistency. PeachWorks Platform-as-a-Service (PaaS) manages forecasting, inventory, employee scheduling, point of sale data, recipe management, internal communications, and advanced analytics. By leveraging restaurant software from PeachWorks, restaurateurs gain visibility into actionable data, which enables better decision making and better profitability.
“PeachWorks is an ideal partner for us,” said Steve Jaffee, Managing Director of Dreadnought Capital. “They are experiencing tremendous growth delivering cloud based software subscriptions with a solid model based on monthly recurring revenue (MRR). We are excited to support them in their next phase of growth.”
PeachWorks is the provider of Peach, a cloud-based restaurant operations platform designed to simplify and streamline the business functions of running a successful restaurant. Built by a team that knows the restaurant industry inside and out, Peach is intuitive and easy to use, producing a short learning curve for employees to use its powerful tools for staff scheduling, inventory management, manager logs, visibility into point of sale data, employee communications and more. To learn more, visit http://peachworks.com.
About Dreadnought Capital
Founded in 2015, Dreadnought Capital is a provider of debt-based growth capital for early stage SaaS companies. By leveraging the predictable revenue streams generated from the SaaS business model, Dreadnought Capital’s debt facilities allow SaaS companies to accelerate future cash-flow streams to fund operations today. Dreadnought Capital’s products provide more availability than traditional bank financing, and are structured with flexible terms to meet the needs of growing SaaS businesses. To learn more about Dreadnought Capital, contact Steve Jaffee at sjaffee(at)dreadnoughtcap(dot)com.