Runway Growth Capital served as the lead lender in a $75 million senior secured term loan facility that is part of a $120 million financing to Piano, a global leader in digital experience management, customer journey orchestration, and advanced analytics. The financing also includes a $45 million Series D investment led by Updata Partners, a Washington, D.C.-based growth equity firm focused on technology. This capital will enable Piano to optimize its platform, expand its market presence, and support strategic growth initiatives.
Founded in 2010, Piano offers an end-to-end platform that allows enterprises to more quickly identify, understand, and serve their customers. The Piano platform leverages unique data architectures that operate at massive scale and at orders of magnitude faster than competing solutions. This product helps global, national, and local brands and publishers achieve revenue growth while empowering teams to launch relevant audience experiences seamlessly, at scale, and with complete privacy-compliance.
With its US-headquarters in Philadelphia, PA and a presence in over 15 offices worldwide, including Amsterdam, Paris, Singapore, Berlin, Buenos Aires, New York, and Tokyo, Piano serves a diverse client base across six continents. The company has been recognized as one of the fastest-growing, innovative technology companies by organizations such as Red Herring, the World Economic Forum, and Deloitte.
“Piano’s innovative approach to digital experience management and its market leadership position makes it an ideal partner for Runway,” said Jeff Goldrich, Managing Director at Runway Growth Capital. “We are excited to support Piano’s continued expansion and their commitment to delivering exceptional solutions to their clients.”
“This financing from Runway Growth Capital provides us with the resources to further enhance our platform and accelerate our growth strategy,” said Trevor Kaufman, CEO of Piano. “We appreciate Runway’s confidence in our vision and look forward to advancing our mission to empower businesses with the tools they need to understand and influence customer behavior.”
“The range of industries and business problems Piano is able to address with its technology is incredibly impressive,” added Ted Cavan, Managing Director at Runway Growth Capital. “The Piano team has built a truly industry-leading technology and we are thrilled to be a part of their continued success.”