Qumu Secures $10 Million Revolving Credit Facility, Providing Additional Financial Flexibility to Execute SaaS Growth Strategy
Qumu Corporation (Nasdaq: QUMU), a leading provider of cloud-based enterprise video technology for organizations of all sizes, has closed a $10 million revolving credit facility with Wells Fargo Bank, NA.
- Qumu Corporation (Nasdaq: QUMU), a leading provider of cloud-based enterprise video technology for organizations of all sizes, has closed a $10 million revolving credit facility with Wells Fargo Bank, NA.
- The revolving credit facility availability is determined by recurring revenue, and has a maturity date of January 15, 2023.
- This new credit facility enhances our financial flexibility, further supporting our ability to prudently invest in growth opportunities and manage working capital, said Dave Ristow, Qumu Chief Financial Officer.
- These benefits are important as we continue to execute our long-term strategic roadmap to position Qumu as a cloud-first organization and drive sustainable growth and high-margin, SaaS recurring revenues.