Plenus Venture Lending Grants $5mm Credit Facility to Press-Sense
Plenus Venture Lending, Israel’s leading venture lending fund which provides credit facilities to high-tech companies, announced today that it has granted a $5mm loan to Press-sense, a market leader in business workflow automation solutions to the Print Industry. Press-sense also supplies print providers with enhanced communication lines with their customers enhancing customer loyalty and improving revenues and profitability.
“We were impressed by Press-sense’s strong management team led by CEO Shlomo Ben-David (aka Benda) and by co-founder Amir Karby, whom we learned is a recognized industry maverick,” says Lee-Bath Nelson, General Partner at Plenus. ”Press-sense boasts an impressive install base and strategic partnerships. Its technology has been adopted by major industry players such as Xerox, Oce and now HP which we believe is a significant validation of the company’s leadership position.”
“We are excited by the vote of confidence provided by Plenus,” said Benda, CEO of Press-sense. “Plenus maintains an excellent reputation within the high tech industry as a professional long term partner and we look forward to a fruitful relationship."
Plenus, the only Israeli Venture Lending Fund providing credit facilities to revenue stage technology companies is managed by Moti Weiss, Ruthi Simha, Momi Karako and Lee-Bath Nelson. 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 is an affiliate of Viola Partners, a leading innovative private equity investment group with over $1.5B under management, focused on technology-based growth opportunities in Israel
For more information on Plenus Venture Lending, please visit www.plenus.co.il
Founded in 2001, Press-sense has rapidly evolved into one of the world’s leading developers of automated Business Flow solutions for the printing industry. With an installed base of over 700 customers throughout North America, Europe and Asia Pacific, the company’s flagship iWay family of products are recognized today as the market leader for integrated Web-to-Print and business management solutions. The company’s integrated tools provide commercial printing and digital service providers with an elegant, yet comprehensive approach to creating internet-based revenue streams, automated production workflows, and business management tools that maximize production efficiency, monitor and reduce costs, and increase profit ratios.
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