Boston, MA – NXT Capital’s Venture Finance Group today announced the closing of a $7.0 million subordinated venture loan to GreatCall, Inc. GreatCall will use the additional capital to expedite growth in an expanding portfolio of next generation health and wellness wireless services for consumers.
GreatCall serves the mature population, providing inexpensive, easy-to-use wireless devices and services that do not require long-term contracts. The company focuses on simplicity and offers a human touch for every service it provides. All of GreatCall’s devices, personalized services and customizable applications are easy to set up, easy to use and help keep customers connected, safe and healthy.
Headquartered in San Diego, CA, GreatCall is backed by Charles River Ventures, Court Square Ventures, Nauta Capital, Steelpoint Capital Partners and Sumitomo.
“In the five years we’ve known the GreatCall team, the company has consistently exceeded expectations by dominating the market for easy to use, inexpensive, practical wireless services for the boomer and senior markets,” said JP Marchette, Managing Director, NXT Capital Venture Finance.
“The team at NXT Capital Venture Finance structured a facility that allows us to continue to invest in the adoption of our new 5Star urgent response platform,” said Bill Kuncz, GreatCall’s Chief Financial Officer. “We have known the NXT team for years and they continue to demonstrate their ability to execute seamlessly. It is gratifying to reestablish our partnership with a trustworthy team that has the resources to support our capital needs as we continue to flourish.”
ABOUT NXT CAPITAL VENTURE FINANCE: NXT Capital Venture Finance is a division of NXT Capital that serves 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/venture-finance.
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. See www.nxtcapital.com.
ABOUT GREATCALL: GreatCall is a company of “People You Can Count On” to deliver wireless services that help keep customers connected, safe and healthyTM. The company stands apart from other wireless services providers through its simplified, personalized and humanized approach, as well as its commitment to providing a high quality customer service experience. The company has been widely praised for its ability to deliver the benefits of innovation and technology in a meaningful and easy-to-use format. GreatCall has received prominent national media accolades from the Wall Street Journal, BusinessWeek, The New York Times, Washington Post and major TV broadcast networks.
GreatCall’s services, apps, and cell phone handsets, including The 5Star™ and The Jitterbug™ are sold nationwide at leading retailers such as Wal-Mart, Best Buy, Sears, Meijer, Radio Shack Dealer Franchise, Fry’s Electronics and ShopKo, as well as direct to consumers at 1-800-918-8543 and online at www.greatcall.com. Service coverage includes the U.S. and Canada. GreatCall is located in San Diego, CA. For more information, please visit www.greatcall.com.