Wellington Financial LP, a privately held specialty finance firm, announced a $4 million venture debt debenture financing for Eedo Knowledgeware (Eedo). The funds will be used to fuel Eedo’s ongoing growth requirements.
“The Eedo team has done a fantastic job achieving a number of significant milestones. And it has done so without any outside equity support. A tremendous foundation has been laid, with a growing list of world class customers, and a product that is second to none,” said Mark Usher, Partner of Wellington Financial LP. “We are very pleased that Eedo has chosen Wellington Financial’s True Growth Capital to support its next stage of significant growth.”
“This new financing will help us capitalize on the growing number of companies that are turning to learning content management systems to help them drive employee productivity while reducing the cost of learning,” said John Hudson, CEO, Eedo Knowledgeware. “We regard Wellington Financial as a partner in this next stage of our growth and look forward to working together to achieve our milestones.”
Advisory services provided to Eedo by KPMG Corporate Finance (Ottawa). LaBarge Weinstein and Borden Ladner Gervais LLP provided legal advice for this transaction.
|