Golub Capital's Late Stage Lending Team Provides Growth Financing Facility to Silver Peak Systems
SAN FRANCISCO, May 7, 2019 /PRNewswire/ — Golub Capital’s Late Stage Lending team announced that it recently provided a growth financing facility to Silver Peak Systems, an award-winning provider of software-defined wide-area network (SD-WAN) solutions. Golub Capital acted as Administrative Agent and Sole Lead Arranger, and participated in the financing alongside existing investors TCV, which led the previous funding round, as well as Greylock Partners and Benchmark. The financing will be used to help Silver Peak maintain and grow their leading position in the SD-WAN space.
Forward-thinking executives from thousands of companies around the world rely on Silver Peak and its leadership in SD-WAN and WAN edge infrastructure to achieve success in a multi-cloud era.
The Silver Peak Unity EdgeConnect™ SD-WAN edge platform enables enterprises to confidently embrace broadband, connect users securely and directly from branch offices to cloud and SaaS applications, giving every application the resources it truly needs, while delivering 10x the bandwidth for the same budget. By empowering customers to use broadband connections to augment or replace their current MPLS networks, and remove traditional branch routers, Silver Peak improves customer responsiveness, simplifies network configuration and management, increases application performance, and significantly reduces capital and operational expenses. EdgeConnect is a unique solution that delivers SD-WAN, routing, security, WAN optimization, visibility and control all in a unified platform.
“As more firms move away from traditional network technology and toward SD-WAN solutions, Silver Peak has quickly established itself as a global SD-WAN leader, enabling enterprises to benefit from the true transformational promise of the cloud,” said Peter Fair, Managing Director on Golub Capital’s Late Stage Lending team. “We are excited to be partnering with TCV, Greylock and Benchmark to support this next phase of growth.”
“Golub Capital provides us with a financing solution that allows us the flexibility to continue our growth trajectory without further equity dilution,” said Eric Yeaman, Chief Financial Officer at Silver Peak. “Their deep expertise in the enterprise SaaS space, coupled with their relationship approach to lending and ability to scale, gives us confidence they are the right partner for us.”
“We believe that with Golub’s flexible and scalable debt structures, Silver Peak is well positioned to strengthen its execution capabilities,” said Tim McAdam, General Partner at TCV. “We look forward to continuing to help the Silver Peak team pursue both current and untapped growth opportunities.”
About Golub Capital Late Stage Lending
Golub Capital’s Late Stage Lending group offers growth debt opportunities to venture-backed, late stage SaaS companies. Golub Capital’s flexible credit solutions offer entrepreneurs and executives the opportunity to finance their future without diluting their ownership. The firm structures offerings to foster long-term partnerships, encouraging portfolio companies to take control of their growth, make strategic acquisitions and expand their product offerings.
Golub Capital is a market-leading, award-winning private debt platform with over $30 billion of capital under management. Golub Capital’s Middle Market Lending business specializes in delivering reliable, creative and compelling financing solutions to U.S. middle market companies backed by private equity sponsors. The Middle Market Lending team has particular domain expertise in select industries, including software, technology services, healthcare, consumer and restaurant and retail. The firm’s credit expertise also forms the foundation of its Late Stage Lending business and its Broadly Syndicated Loan investment program. Across its activities, Golub Capital nurtures long-term, win-win partnerships that inspire repeat business from its private equity sponsor clients and investors. Founded in 1994, Golub Capital today has over 400 employees and lending offices in Chicago, New York and San Francisco. For more information, please visit golubcapital.com.
About Silver Peak
Silver Peak, the global SD-WAN leader, delivers the transformational promise of the cloud with a business-first networking model. The Unity EdgeConnect™ self-driving wide area network platform liberates enterprises from conventional WAN approaches to transform the network from a constraint to a business accelerant. Thousands of globally distributed enterprises have deployed Silver Peak WAN solutions across 100 countries. Learn more at silver-peak.com.
Founded in 1995, TCV provides capital to growth-stage private and public companies in the technology industry. Since inception, TCV has invested over $11 billion in leading technology companies and has helped guide CEOs through more than 120 IPOs and strategic acquisitions. TCV’s investments include Airbnb, Alarm.com, Altiris, AxiomSL, Dollar Shave Club, EmbanetCompass, EtQ, ExactTarget, Expedia, Facebook, Fandango, GoDaddy, HomeAway, LinkedIn, Netflix, OSIsoft, Rapid7, Rent the Runway, Sitecore, Splunk, Spotify, Varsity Tutors, Venafi, and Zillow. TCV is headquartered in Menlo Park, California, with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit https://www.tcv.com/.
SOURCE Golub Capital