MARLBORO, N.J.--(BUSINESS WIRE)--etherFAX, a leader in business-critical fax communications, today announced that it has raised funding from Lighter Capital, a Seattle-based investment lender specializing in Revenue-Based Financing for small businesses. etherFAX will expand the deployment of etherFAX Secure Exchange Network (SEN) which is designed for healthcare, financial services and other enterprises that need the capability to send and receive documents securely.
“This funding is instrumental to scaling our operations and driving broader adoption of etherFAX SEN, our patented Secure Exchange Network,” explained Paul Banco, CEO of etherFAX. “Organizations are increasingly relying on fax communications to transact business and streamline workflows. etherFAX SEN provides the capability to deploy a private fax network that includes end-to-end encryption, fast connections and guaranteed delivery.”
Since 2009, etherFAX has changed how faxes are typically sent and received. Its technology leverages the Internet instead of PSTN networks to manage incoming and outgoing fax communications. Extending existing fax servers to the cloud, etherFAX removes the need for costly components such as fax boards, media gateways and FoIP drivers. It also eliminates recurring telephony expenses. Through its Infrastructure-as-a-Service model, etherFAX offers a scalable network which is available on-demand to send and receive high volumes of fax transmissions and ensure business continuity.
“etherFAX is extremely well-positioned for rapid growth and a terrific match for Revenue-Based Financing,” said BJ Lackland, CEO of Lighter Capital. “We look forward to helping the company grow and achieve its full potential in the marketplace.”
Fax-over-IP (FoIP) is currently the number one driver of fax server sales, and security compliance regulations in industries like healthcare continue to propel the growth in the market. Research shows that revenue from hybrid fax systems that are highly secure and provide disaster recovery – like etherFAX and etherFAX SEN – is expected to double by 2017.
"etherFAX is changing the value of fax communications from just sending and receiving pages to secure data transport through our SEN technology,” added Banco. “Every fax-enabled device now becomes an extension of etherFAX SEN, capable of facilitating secure data communication, business workflows and document management."
The debt funding from Lighter Capital will enable etherFAX to grow without adversely impacting the company’s cash flow or sacrificing equity. Lighter Capital’s Revenue-Based Financing model is uniquely structured to match the ebb and flow of small business. Loan payments adjust in proportion to revenue, and there’s no loss of control or restrictive financial covenants.
Lighter Capital’s innovative Capital-as-a-Service platform also enables small businesses, like etherFAX, to fast-track the fund raising process and secure up to $1 million in growth capital in a highly-automated fashion.
“As a company that employs a web services model for the benefit and convenience of our customers, we appreciate Lighter Capital’s Capital-as-a-Service model, which is enabling us to streamline the financing process from start to finish,” Banco said. “It’s how all financing should get done.”
Founded in 2009, etherFAX® offers a unique solution that extends existing fax server solutions to the cloud. By eliminating the need for costly network fax systems, such as fax boards and recurring telephony fees, etherFAX leverages the Internet to manage all business-critical fax communications. For more information visit www.etherfax.net or call 877.384.9866.
About Lighter Capital
Lighter Capital provides $50,000 to $1 million in funding for growing technology businesses looking to accelerate their sales, marketing or product development efforts. Lighter Capital’s RevenueLoans are more flexible than traditional loans and equity investments - repayments rise and fall with a business’s revenue, there are no personal guarantees and no dilution. Through its proprietary underwriting process, which blends automated analysis with a deep understanding of technology business models, the company has created a new source of capital for growing businesses.