COLUMBIA, MD, NXT Capital's Venture Finance Group announced the closing of a $4 million venture loan to BoxTone, a provider of Enterprise Mobility Management (EMM) solutions.
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NXT Capital's Venture Finance Group today announced the closing of a $4 million venture loan to BoxTone, Inc. The facility will enable BoxTone to finance key growth initiatives.
BoxTone is a leading provider of Enterprise Mobility Management (EMM) solutions that enable enterprises, managed service providers and public sector entities to proactively and efficiently secure, manage and support mobile users, devices and apps. The BoxTone EMM platform provides real-time control of all mobile devices and tablets, as well as the apps that run on them, with support for iOS, Android, RIM BlackBerry and Windows Phone operating systems.
The Company's full lifecycle EMM solution spans mobile device management (MDM), mobile app management, mobile support management and mobile operations management. BoxTone's customers include 41 of the FortuneĀ® 100 and 8 of the top 10 Managed Service Providers. Headquartered in Columbia, Maryland, BoxTone is backed by Lazard Technology Partners.
"While multi-platform MDM and 'Bring Your Own Device' (BYOD) policies have only recently entered the global IT lexicon, BoxTone has over a decade of experience securing and managing wireless devices and applications for some of the most demanding enterprise environments," said Joe Spinelli, Investment Professional, NXT Capital Venture Finance. "BoxTone's automated mobile management solutions for all smartphones, tablets and mobile apps within the enterprise enable IT to ensure the best end-user experience while simultaneously liberating valuable IT personnel from tedious administrative tasks."
"We are pleased to have partnered with NXT Capital Venture Finance as we focus on meeting the explosive demand for Enterprise Mobility Management," said Alan Snyder, BoxTone's CEO. "The NXT team brought an innate understanding of the key pain points we solve for the enterprise and proactively worked with us to develop a facility that will help us to fully address this rapidly growing market."
About NXT Capital Venture Finance: NXT Capital Venture Finance is a newly formed business committed to serving entrepreneurs by providing less dilutive, more flexible forms of capital. With offices in Boston and Silicon Valley, NXT Capital Venture Finance provides senior and subordinated term loans in the $1 million to $20 million range to emerging growth companies backed by venture capital and private equity firms, particularly those in the technology and life science sectors. Target clients range from pre-revenue companies led by dedicated entrepreneurs to late-stage, proven businesses seeking more efficient growth capital. For more information, see www.nxtcapital.com
About NXT Capital: NXT Capital provides structured financing solutions to middle-market and emerging growth companies, as well as real estate investors, through its Corporate Finance, Venture Finance and Real Estate Finance groups. Based in Chicago with offices in New York, Atlanta, Boston, Dallas, Newport Beach and Silicon Valley, NXT Capital targets senior financing opportunities up to $150 million with a hold size up to $50 million.
About BoxTone: BoxTone is the innovator of automated Enterprise Mobility Management (EMM). With millions of devices under management, BoxTone's automated EMM platform is trusted by the world's leading enterprises, Managed Service Providers and government agencies to ensure maximum mobile performance and security at the lowest cost and risk. BoxTone's single unified mobile management platform powered by patented real-time automation technology addresses the entire mobile lifecycle: mobile device management, application management, support management and operations management. BoxTone also delivers real-time centralized control of all mobile smartphones and tablets including iPhone and iPad, Google Android, BlackBerry and Windows Phone, as well as the enterprise apps that run on them.