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Wellington Financial LP, a privately-held specialty finance firm, announced a $10 million venture debt financing for SOA Software of Los Angeles, CA. SOA Software is powering the API economy by delivering a comprehensive suite of secure, scalable API and SOA solutions designed for the large enterprise.
"SOA Software provides customers with a number of market leading solutions to help manage and secure APIs across their organization. We are delighted to add another Southern California company to our expanding U.S. portfolio," said Eric Speer, Vice President of Wellington Financial.
"The worldwide market for converged API and SOA solutions is growing rapidly. This financing will allow us to accelerate time to market for new products and expand our presence to address enterprise customers globally with our software and solutions," said Paul Gigg, President and Chief Executive Officer of SOA Software.
SOA Software is backed by leading venture capital firms, including Redpoint Ventures, Paladin Capital Group, Palisades Ventures, Navigation Capital Partners, and Draper Fisher Jurvetson.
Wellington Financial LP is a privately-held specialty finance firm providing term, venture and amortizing loans up to $30 million. Wellington Financial LP is currently managing a $600 million investment program with offices in San Francisco, Santa Monica and Toronto.