HotDoc

Australia - New Zealand, Software & Services

A service provider who could deliver convenience, with limited hard assets.

A Healthcare infrastructure tech company delivering topline growth, but still pre-cash flow, needed a recurring revenue facility to scale its subscription base.

HotDoc, based in Melbourne, built a software-as-a-service (SaaS) business focused on driving efficiency across the patient booking and healthcare service provider operational experience by delivering convenient and simple-to-use online tools.  Having raised equity financing to invest in products and prove market potential, HotDoc was looking to accelerate growth.  While the business had strong trends with top-line growth, it was still actively investing in sales and marketing and not yet generating cash flow.

OPPORTUNITY, CREATED BY THE MEETING OF MARKETPLACE DYNAMICS AND GROWTH TRAJECTORY

As a software business with limited hard assets on the balance sheet and still pre-cash flow, the company did not have access to suitable bank financing options. PFG was able to assess HotDoc’s core technological value and marketplace dynamics, leading to a deeper understanding of the growth trajectory that would enable the company to deliver future profitability. 

PFG structured a line of credit that allowed the company access to a flexible facility and borrow against its subscription revenue base.  The recurring revenue facility was designed to scale with HotDoc’s growth in subscribers and subscription revenue delivering additional borrowing capacity to fund continued expansion. 

INVESTING IN GROWTH, INVESTING IN THE FUTURE

HotDoc continued to invest in growth reaching an important annual recurring revenue milestone that supported the company’s ability to successfully raise additional venture capital at a compelling equity valuation. 

No compensation was received by any individual or company for their views and thoughts expressed. The individuals or companies are not investment advisory clients of PFG.

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