Runway Growth Capital Provides $40 Million Growth Investment to Blueshift

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Jan 16, 2024, 08:00 ET

The funding will enable Blueshift to expand its sales and marketing operations for its patented AI-powered customer engagement platform.

MENLO PARK, Calif., Jan. 16, 2024 /PRNewswire/ -- Runway Growth Capital LLC ("Runway"), a leading provider of growth loans to both venture and non-venture-backed companies seeking an alternative to raising equity, announced today a $40 million debt commitment to Blueshift, a San Francisco-based company that helps brands automate and personalize engagement across every marketing channel, using a unique combination of Customer AI & Generative AI.

Runway's financing will be used to refinance existing debt and provide Blueshift with the ability to expand sales, marketing, and operations of its customer engagement platform, which uses patented AI technology to unify, inform, and activate the fullness of customer data across all channels and applications.

"We are thrilled to partner with Runway Growth Capital," said Vijay Chittoor, Co-Founder and CEO of Blueshift. "Runway's funding will enable us to scale our operations and reinforce our commitment to deliver unparalleled personalized experiences for brands across the globe."

"We are excited to support Blueshift's innovative approach to marketing automation and customer engagement," said Jeff Goldrich, Managing Director of Technology at Runway. "This funding highlights our commitment to fostering the growth of companies at the forefront of technological innovation. We believe Blueshift's unique capabilities to leverage customer data will set a new standard in personalized marketing, and we're proud to be a part of their growth story."

Union Square Advisors LLC served as the exclusive financial advisor to Blueshift in the transaction.

Blueshift is headquartered in San Francisco, and has offices in London, UK, and Pune, India.

About Runway Growth Capital LLC
Runway Growth Capital LLC is the investment advisor to investment funds, including Runway Growth Finance Corp. (Nasdaq: RWAY), a business development company, and other private funds, which are lenders of growth capital to companies seeking an alternative to raising equity. Led by industry veteran David Spreng, these funds provide senior term loans of $10 million to $100 million to fast-growing companies based in the United States and Canada. For more information on Runway Growth Capital LLC and its platform, please visit our website at www.runwaygrowth.com.

About Blueshift
San Francisco-based Blueshift helps brands deliver relevant, connected experiences across every customer interaction. The Blueshift platform uses patented AI technology to unify, inform, and activate the fullness of customer data across all channels and applications. Through unified data, omnichannel orchestration, intelligent decisioning, and unmatched scale, Blueshift gives brands all the tools to seamlessly deliver 1:1 experiences in real-time across the entire customer journey. For more information, visit https://blueshift.com/.

Forward-Looking Statements
Statements included herein may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition, or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Runway's filings with the Securities and Exchange Commission. Runway undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

SOURCE Runway Growth Capital LLC