Asure Software Inc. (NASDAQ: ASUR) has secured a significant $60 million credit facility with MidCap Financial, marking a strategic financial move for the cloud-based Human Capital Management (HCM) software provider. The agreement offers the company immediate access to $20 million in funding, with an additional $40 million available until March 31, 2027.
The credit facility represents a crucial financial milestone for Asure, potentially enabling the company to accelerate growth, invest in technological innovation, and expand its HCM software solutions. By securing this flexible financing, Asure can strengthen its market position in the competitive HR technology landscape.
The company's HCM suite includes comprehensive solutions spanning HR, payroll, time and attendance, benefits administration, payroll tax management, and talent management. Notably, Asure integrates AI technology into its HR compliance services, emphasizing scalability and efficiency in its product offerings.
Roth Capital Partners served as the exclusive financial advisor for this transaction, underscoring the strategic nature of the credit facility. The funding provides Asure with financial flexibility to potentially pursue technological advancements, product development, and potential market expansion strategies.
For investors and industry observers, this credit facility signals Asure's confidence in its growth trajectory and commitment to delivering advanced HR technology solutions to organizations of varying sizes.
