A SaaS Lending Story:

ZynBit

Based in Raleigh, North Carolina, ZynBit is one of the most popular applications on the Salesforce AppExchange. It builds intelligent sales automation for the next generation of leaders focused on revenue growth while delivering outstanding customer experiences. ZynBit helps companies leverage real-time information to out-maneuver the competition, acquire and retain their ideal customers, and attract top talent.

saas case studies

Learn more about ZynBit

The Challenge:
Focused on helping customers refine and grow their sales, ZynBit began exploring funding solutions that would help them do the same.

The Solution:
ZynBit partnered with River SaaS Capital for non-dilutive debt funding to build sales and marketing teams as well as a strategic sales intelligence roadmap.

The Result:
ZynBit has achieved strong growth goals since its funding and has successfully built out its teams to continue that growth into the future.

The Challenge

ZynBit was founded in 2009 and had worked diligently to build its ARR and product since then. In 2018, the company was ready to scale up to the next stage. As a SaaS platform focused on integrating strategic business data into Salesforce to help companies boost sales performance and increase efficiency, ZynBit understood the importance of having a sales intelligence roadmap to further refine its own sales strategy. However, additional sales and marketing talent would be needed to develop and execute on that roadmap.

“The River SaaS Capital partnership is strategic for us at this stage, helping ZynBit to manage scale, cash flow, and dilution.”

The Solution

ZynBit began exploring options for growth capital and was referred to River SaaS Capital. We began having conversations around our non-dilutive venture debt financing solutions and how they could help ZynBit achieve its goals. River SaaS Capital also went to meet the ZynBit leadership team at its North Carolina office and demo its product. We were so impressed that we connected ZynBit with our sister company, TRG, whose sales teams would be able to put the ZynBit Salesforce integration to use.

“River SaaS was the only company that was interested in our business itself and how we think about growth rather than growth as a formulaic perspective,” said ZynBit CEO Phil Dixon. “They took a true partnership approach toward working with us.”

River SaaS Capital completed funding for ZynBit in Q4 of 2018 and provided additional tranches in early 2019 to help ZynBit maintain its growth trajectory.

The Result

“The River SaaS Capital partnership is strategic for us at this stage, helping ZynBit to manage scale, cash flow, and dilution,” said Phil Dixon, CEO at ZynBit. “We’ve been impressed with the River SaaS team’s responsiveness, flexibility, and knowledge of our needs. We’re thrilled to join the River SaaS family.”

ZynBit has put its growth capital to great and effective use. The company has invested in talent acquisition, adding several key marketing and sales positions to its team. Additionally, funding has been used to build out the ZynBit brand via content marketing and other initiatives to further establish and share the company’s Salesforce experience.

To date, ZynBit has achieved impressive performance with 100 percent year-over-year growth. The company benefits from exceptional low churn and high net revenue retention, both of which are carefully monitored thanks to the KPIs and other metrics that ZynBit is following diligently as they grow their ARR.

“Zynbit is an impressive organization,” said Wendy Jarchow, Chief Investment Officer of River SaaS Capital. “The way the company thinks about its business and puts processes in place to achieve goals is outstanding. We’re thrilled they chose River SaaS as their capital partner and look forward to working with them to accelerate their growth.

Looking for Growth Capital?

If your company is considering its growth capital options and can relate to the scenario in this case study, we’d enjoy an opportunity to speak with you and learn more about your SaaS platform. Contact us today to learn more about our funding solutions.

Michael Kennedy

Chief Executive Officer, TruWest Companies

Mike Kennedy is CEO of TruWest Companies, the parent organization of River Capital Finance, River SaaS Capital, TRG and MRK Technologies. He began his business career with the Burroughs Corporation (now Unisys), before co-founding L.D.I. Corporation, a computer distributor and leasing company that grew to $75 million in sales by 1987, when it went public.

Under Mike’s leadership as President and COO, L.D.I. increased sales to $350 million by 1994, when it was acquired by NationsBank. Prior to the sale, he led a management buyout of several company divisions to form a new company called MRK Technologies. In 2000, Mike expanded again with the formation of MRK Leasing, later rebranding as River Capital Finance.

Matthew Kennedy

Co-Managing Member, TruWest Companies

Matt is president of River SaaS Capital's parent company, River Capital Finance and Co-Managing Member of TruWest Companies, the parent organization of River Capital Finance. In these roles, he is responsible for the development and implementation of high-level strategic sales plans to drive revenue and ultimately increase market share.

Matt founded River SaaS Capital to help founders grow their dreams while protecting their ownership.

Sean Kennedy

Co-Managing Member, TruWest Companies

Sean Kennedy is a Co-Managing Member of TruWest Companies, the parent organization of River Capital Finance, River SaaS Capital, TRG and MRK Technologies.

Sean began his career with MRK Technologies and in 2004, founded TRG, then a provider of refurbished equipment to the AIDC and mobile technology market. He has since transformed TRG into one of the largest hardware, software and solutions providers in the mobile computing, barcode, POS and payment processing industries. Sean is a 2002 graduate of Ohio University with a B.A. in Communications.

Wendy Jarchow

Chief Investment Officer, River SaaS Capital

Wendy is Chief Investment Officer of River SaaS Capital. She leads the company’s due diligence and lending activities to help growing SaaS businesses fund their growth plans with non-dilutive capital and manages the company’s portfolio of loans.

Wendy has over 20 years of experience working at large financial institutions and venture funds where she has held diverse business roles, including business development, risk management, access to capital through venture investing, and strategic planning and implementation. Prior to joining River SaaS Capital in June 2016, Wendy was a Venture Partner at JumpStart, a Northeast Ohio Venture Development Organization where she assisted client companies with developing funding strategies and secured capital for both start-ups and scaleup businesses.

Joe Granzier

Chief Development Officer, River SaaS Capital

Joe is Chief Development Officer of River SaaS Capital. He manages River SaaS Capital’s investor relations and devises strategies for fund growth.

Before joining River SaaS, Joe spent over 30 years in high-net worth portfolio management, corporate retirement plan consulting and education funding strategies. He has worked for both public financial conglomerates as well as smaller boutique investment firms and has been a participant in the esteemed Securities Institute Association (SIA) at the Wharton School of Business, University of Pennsylvania.

Joe holds multiple industry licenses (6, 66, 7, life, health, LTC) and is a certified Accredited Investment Fiduciary (AIF).

Chris Free

Chief Financial Officer, TruWest Companies

Chris Free is Chief Financial Officer of TruWest Companies, the parent organization of River Capital Finance, River SaaS Capital, TRG and MRK Technologies. Chris joined TruWest in 2018 with over 14 years of experience in financial management, mostly recently serving as Chief Financial Officer at Sandridge Foods, a family-owned leader in the fresh food manufacturing industry. Chris has also served as Group Controller and Manager of Financial Planning & Analysis at Nordson Corporation and has experience in a variety of roles at Ernst & Young LLP. Chris earned both his master’s and bachelor’s degrees in accounting from Miami University.

Joseph Yanoska

Chief Information Officer, TruWest Companies

Joseph Yanoska is Chief Information Officer of TruWest Companies, the parent organization of River Capital Finance, River SaaS Capital, TRG Solutions, MRK Technologies and Sibling Revelry Brewing. He is a technology veteran with a background in the online social expression and banking industries. Joe helps our portfolio investments as a technology mentor. He strategizes along with your team on development roadmaps and security assessments. He would love to help you scale your technology to grow with your business.

Tara Lavelle

VP of Marketing

Tara Lavelle leads marketing for River SaaS Capital, MRK Tech, and River Capital Finance since 2020. Most recently Tara lead marketing at CardinalCommerce, a high growth Fintech SaaS business culminating in the sale to Visa.

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