SG Credit Profile: Software & Technology

The Company

X1 is a market leader in remote preservation and ESI collection software. The Company’s products are utilized by F500 companies, law firms, and government agencies for legal, compliance, and governance purposes.

The Financing Situation

X1 required growth capital to continue new product development and to bolster its enterprise sales team.

The Solution

SG was supportive of the transaction given the Company’s ARR growth, strong enterprise customer retention, and continued investor support. SG structured a $2.5MM non-dilutive credit facility around the Company’s ARR, allowing existing investors to capture upside in enterprise value generated by additional growth. SG moved quickly to close the transaction within three (3) weeks.