VertexOne January 2025 Debt Financing Funding Round

VertexOne, a leading provider of vertical market software solutions for electric, gas, and water utilities, has secured a $131 million financing commitment from Runway Growth Capital LLC and BC Partners Credit.

This substantial investment is poised to facilitate VertexOne's strategic growth initiatives, including the acquisition of Accelerated Innovations (AI) for $32.5 million, refinancing existing obligations, and enhancing its platform to deliver transformative customer engagement solutions.

Runway Growth Capital, a prominent provider of growth loans to both venture and non-venture-backed companies, has been associated with VertexOne since December 2021. BC Partners Credit, the $8 billion credit arm of BC Partners, an alternative investment firm with approximately $40 billion in assets under management, co-led this financing round.

The acquisition of Accelerated Innovations is a strategic move aimed at integrating AI's MyMeter technology with VertexOne's existing solutions. This integration is expected to create a comprehensive platform that combines customer information systems with advanced analytics, seamless billing and payment solutions, and real-time customer engagement. Such a platform is anticipated to enhance VertexOne's reach in the electric, gas, and water utility markets, as well as the electric and gas retail sectors.