IntelePeer, a leading Communications Platform as a Service (CPaaS) provider, announced that it has closed a $55 million credit facility to further accelerate the growth and innovation of its enterprise-centric Atmosphere® CPaaS platform. TPG Sixth Street Partners, a global finance and investment business, structured and financed the transaction.

IntelePeer will use this investment to accelerate development and innovation on the Atmosphere® CPaaS platform, furthering the capabilities and features that enable enterprises to deliver world-class communication experiences. The operating resources will be dedicated to continuing IntelePeer’s tremendous growth across platform capabilities, customer acquisition, and expansion into the global enterprise market.

Atmosphere® CPaaS delivers global voice and messaging capabilities, communication APIs, workflow automation, and AI-enabled analytics that enable enterprises to achieve digital transformation goals and create a better experience for customers and employees. With a platform designed with the business user in mind, departments across the company can automate business processes, improve customer and employee experience, and engage audiences with outbound notifications.

“We’re seeing continued growth on our platform, customer acquisition, and adoption,” said Andre Simone, CFO of IntelePeer. “By securing this credit facility, we will remain focused on investing more into the business to ensure our continued growth and customer success.”

“IntelePeer is a leader in their industry and their approach to making programmable communications more accessible to business users, channel partners, and non-developers meets the needs of a growing market,” said Bo Stanley, TPG Sixth Street Partners. “This investment will help provide additional resources to fuel their continued market and product expansion.”

The San Mateo-based company was recently identified as the most innovative privately-owned CPaaS provider in the 2019 Frost & Sullivan RADAR® for the CPaaS industry and included as a representative enterprise communications vendor in Gartner’s Market Guide for Communications Platform as a Service. The global CPaaS market is in a high growth stage with IDC forecasting the CPaaS market size to grow to $10.9B by 2022, and IntelePeer is driving significant innovation in the market by bringing the next wave of CPaaS (‘CPaaS 2.0’) to enterprises and their business users.