NEW YORK, NY--(Marketwired - Apr 4, 2013) - [x+1], a leading provider of digital marketing and data management software, today announced it has signed a new $17M debt facility with Ares Capital Corporation. These funds will be used to support [x+1]'s growth strategy of targeted acquisitions and overall market expansion. Details of the funding were not disclosed.
"We are in a very fortunate position here at [x+1]," said John Nardone, the company's chief executive officer. "We have a wonderful base of clients, organic growth is strong and we are cash flow positive. This financing gives us additional resources to continue our strong forward momentum."
In recent months [x+1] has introduced important enhancements to its flagship product -- [x+1] Origin -- and completed a successful acquisition of the premier tag management company UberTags. This new financing is expected to allow [x+1] to build on this momentum.
Cafferty & Company served as independent advisor to [x+1] on the financing.
The [x+1] Origin Digital Marketing Hub offers integrated and open software for digital marketing optimization through a Data Management Platform (DMP) with multi-channel execution capabilities powered by a patented real-time decision engine, Web services APIs, and advanced analytics. [x+1] allows companies to synchronize consumer engagements across a broad range of paid + owned marketing channels including websites, display, landing pages, email, SMS, mobile, direct mail, chat and call centers in real time. [x+1] maximizes campaign performance and ROI in a consistent, scalable and measurable way.