Wellington Financial Provides $10 Million Growth Capital to SOA Software, Inc.
LOS ANGELES and TORONTO, March 27, 2014-- Wellington Financial LP, a privately-held specialty finance firm, today announced a US$10 million venture debt financing for SOA Software of Los Angeles, CA. SOA Software is powering the API economy by delivering a comprehensive suite of secure, scalable API and SOA solutions designed for the large enterprise.
"SOA Software provides customers with a number of market leading solutions to help manage and secure APIs across their organization. We are delighted to add another Southern California company to our expanding U.S. portfolio," said Eric Speer, Vice President of Wellington Financial.
"The worldwide market for converged API and SOA solutions is growing rapidly. This financing will allow us to accelerate time to market for new products and expand our presence to address enterprise customers globally with our software and solutions," said Paul Gigg, President and Chief Executive Officer of SOA Software.
SOA Software is backed by leading venture capital firms, including Redpoint Ventures, Paladin Capital Group, Palisades Ventures, Navigation Capital Partners, and Draper Fisher Jurvetson.
About Wellington Financial LP
Wellington Financial LP is a privately-held specialty finance firm providing term, venture and amortizing loans up to $30 million. Wellington Financial LP is currently managing a $600 million investment program with offices in San Francisco, 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.
About SOA Software
SOA Software is a leading provider of API Management and SOA Governance products that equip business to deliver APIs and SOA together to drive their company to meet its business strategy quickly and effectively. SOA Software's technology helps businesses to accelerate their digital channels with APIs, drive partner adoption, monetize their assets, and achieve agility and operational excellence across their applications and datacenters. Some of the world's largest companies including Bank of America, Pfizer, and Verizon use SOA Software products. SOA Software is also recognized as a "Leader" by Gartner in Application Services Governance MQ and as a leader by other analyst firms. For more information on SOA Software's API Platform, see http://www.soa.com.
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