Qumu Takes Out $10m Loan to Invest in Growth

In the US, video technology provider and measurement specialist Qumu has closed a $10m revolving credit facility from Wells Fargo Bank, which it will use to invest in growth opportunities and manage working capital.

Qumu develops tools to create, manage and measure the success of live streaming video and video on demand (VOD) for the enterprise. The firm's advanced analytics feature enables clients to analyze and display real-time network and usage data, providing clients with real-time visibility into employee engagement and overall end-user experience.

CFO Dave Ristow (pictured) says the new credit facility, which matures January 2023, enhances the firm's financial flexibility, further supporting its ability to invest in growth opportunities and manage working capital. '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. We appreciate the support from our partner Wells Fargo Bank in creating a financing solution that is both responsive to our needs and designed to support our growth goals'.

Web site: www.qumu.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.