RADCOM Raises a $2.5mm Credit Facility from Plenus Venture Lending
Plenus, the leading Venture Lending Fund in Israel providing credit facilities to high-tech companies, granted a $2.5mm Credit Facility to RADCOM (NASDAQ/TASE: RDCM), a leading network test and service monitoring solutions provider. One of RADCOM’s prominent products, Omni-Q, offers an effective combination of signaling service quality monitoring and troubleshooting, together with advanced, in-depth media analysis.
Lee-Bath Nelson, Plenus’ General Partner stated: “We are pleased to add RADCOM to the Plenus portfolio family. We were impressed by RADCOM’s management, which has led the Company through a challenging period and is now implementing strategies that have returned it to growth. We are also impressed by the steadfast support demonstrated by the Company’s investors, led by Zohar Zisapel.”
Mr. David Ripstein, RADCOM’s President and CEO, said, “This strategic credit facility is the final step in the turnaround plan that we have been following for the past two quarters, an effort that has returned the company to firm control and moved us forward on a path of growth. This credit line, together with the $2.5 million PIPE transaction that we closed earlier in the year, gives us the capital we need to carry out our strategies for taking the company to the next level. We are grateful to Plenus for their vote of confidence and look forward to a fruitful long-term partnership.”
Plenus, an affiliate of Viola Partners, is the only Israeli Venture Lending Fund providing credit facilities to revenue stage technology companies. Plenus currently manages over $300mm and is backed by Israel's largest financial institutions as well as US based investors. To date, the fund has provided its portfolio companies credit facilities totaling over $200mm in over 50 deals and has participated in 9 significant exits. Plenus’ portfolio companies include eglue, N-trig, CyberArk, RedBend, and Wintegra. Alongside Plenus Venture Lending, Plenus also manages Plenus Mezzanine, aimed at the non-high-tech middle market in Israel.
For more information on Plenus, please visit www.plenus.co.il
Plenus is an affiliate of the Viola Partners Group, a leading innovative private equity investment group with over $1.5B under management, focused on technology-based growth opportunities in Israel.
RADCOM develops, manufactures, markets and supports innovative network test and service monitoring solutions for communications service providers and equipment vendors. The Company specializes in Next Generation Cellular as well as Voice, Data and Video over IP networks. Its solutions are used in the development and installation of network equipment and in the maintenance of operational networks. The Company's products facilitate fault management, network service performance monitoring and analysis, troubleshooting and pre-mediation. RADCOM's shares are listed on both the Nasdaq Capital Market and the Tel Aviv Stock Exchange under the symbol RDCM. For more information, please visit www.RADCOM.com.
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