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Presenter Profile
How they describe themselves: We founded Lighter Capital to give small businesses a better funding option. As entrepreneurs ourselves, we felt it was time for some serious change in the financial services industry. So, what are we doing differently? We're combining an innovative financial structure with a technology-enabled lending process, and capping it all off with a more open and avant-garde approach to small business lending.
How they describe their product/innovation: RevenueLoan™ is our light-weight and flexible financing option that fits an unmet need in the small business funding market. Our revenue-based finance model exchanges growth capital for a fixed percentage of a company's revenues. Entrepreneurs prefer this as there's no dilution, no loss of control, and no fixed repayment schedule. For us, this provides a more scalable funding strategy as we have more consistent repayment than venture investors while achieving higher rates of returns than banks. We're also the first small business lender to build a company's social media and web presence directly into our loan evaluation process.
Key Executives:
Andy Sack, CEO: Andy has over 15 years of experience running and investing in high tech businesses, most recently as co-founder and CEO of Judy’s Book, a local search social network. Prior to founding Judy’s Book in 2004, Andy co-founded three successful Internet technology companies: Kefta, a leading provider of real time customer interaction solutions; Abuzz, an enterprise knowledge management solution; and Firefly Network, an Internet company that pioneered internet personalization technologies. Andy received his undergraduate degree from Brown University in 1990, and his MBA from the Sloan School of Management at MIT.
Randall Lucas, Principal and VP of Finance: Randall Lucas has spent over 10 years on both sides of the table in the tech startup and investing world, most recently as a senior associate at Voyager Capital, a West Coast-focused software venture capital firm. Prior to Voyager, he co-founded Tercent, Inc., an online survey software company which he ran as CEO. Randall serves on the board of AboutUs, Inc., and received his undergraduate degree from Harvard College in 2001.
Key Board Members: Rob Martin (Partner, Summit Capital), Erik Benson (Managing Director, Voyager Capital)
Key Investors: Summit Capital, Voyager Capital, Founder's Co-op
Contacts:
Bus. Dev.: Andy Sack, CEO, asack@revenueloan.com, 206-619-1156
Press: Drew Schwarz, dschwarz@lightercapital.com, 425-522-3746
Sales: Rob Belcher, Principal, rbelcher@lightercapital.com, 303-870-9529
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