WorldAPP, Inc., a market leader in enterprise data collection and process optimization software solutions, has secured mezzanine financing from Bay Capital Investment Partners, a mezzanine debt fund based in Providence, RI.
"For many companies, the time it takes to do business is becoming the most glaring cost of doing business. The need to improve the speed and efficiency of critical operations tops the meeting agenda of enterprise boardrooms around the world. Advancements in mobile technology have only accelerated these conversations," said Cal Brown, Co-founder and CEO of WorldAPP. "In the past five years, the explosion in the mobile market and what those devices are capable of now is the foot on the gas pedal for many companies. Excel is slow, paper is slower and clipboards will soon go the way of the VHS. The digital age is here and the opportunity Bay Capital has afforded us ensures WorldAPP will remain the preferred vehicle for enterprises migrating to the cloud."
WorldAPP will use the new infusion of financing to advance its software platform, Form.com, deeper into the survey, BPM and field service markets by expanding product development, client services and marketing initiatives. This expansion will take place in the U.S., Europe, and other key markets.
Operating since 2002, WorldAPP has built a reputation of providing first-to-market technologies and solutions with an exemplary level of customer support that has captured the loyalty of companies such as Deloitte, Amazon, Sage, Groupon and many other captains of industry.
Madison Park Group, a technology-focused investment bank based in New York, acted as WorldAPP's financial advisor in this transaction.
WorldAPP is a global provider of Enterprise Data Collection and Business Process Optimization software solutions.
Bay Capital Investment Partners was formed in 2007 to specifically address the capital needs of U.S. companies at the smaller end of the lower middle market, investing initially through BCA Mezzanine Fund, L.P. and subsequently through BCA Mezzanine Fund II, L.P. Each fund is licensed as a Small Business Investment Company (SBIC) by the U.S. Small Business Administration.