With the financial advisory support of Scale Finance LLC, RANDA Solutions, Inc. (www.randasolutions.com) has closed an institutional growth capital transaction through Fulton Bank, the lead banking subsidiary of Fulton Financial Corporation.
RANDA is a leading Education Technology provider and INC. 5000 software firm founded in 2004. Education is burdened with old problems, new mandates, and higher stakes. RANDA’s education technology solutions address core problems in ways that fulfill mandates and reduce the risks of high-stakes decision making. RANDA’s solutions center on providing high stakes data – 1) Student Data (student identification, student demographics, summative and formative assessments, student growth, course completion, and college readiness); 2) Educator Data (educator identification and demographics, professional development/continuing education, Teacher/Student Data Link (TSDL), value added assessment alignment, and teacher effectiveness); and 3) Third-party Data (community demographics, school climate, early warning data). RANDA’s patented education data management and intelligence software platform acquires, manages and utilizes data providing administrators and teachers in US state and district-wide, and international schools in the K-12 educational segment a variety of education intelligence.
RANDA’s expert team employs advanced approaches to education intelligence collection, acquisition, management and utilization, and provides complex, secure workflows and accessibility and availability. In collaboration with its clients, RANDA has developed a rich understanding of how education really works so RANDA can effectively use right technology to the advantage of educators. Its mission directs its best efforts to transform education with innovative offerings that improve teacher effectiveness.
To support significant contract wins and a growing backlog within the EdTech space and to expand RANDA’s balance sheet, RANDA engaged Scale Finance LLC. Fulton Bank, through its Government Contracting and Technology Banking Group, provided RANDA an innovative working capital and lease facility with critically important flexibility and attractive terms.
About Scale Finance LLC – Scale Finance LLC (www.scalefinance.com) provides capital advisory services, M&A support, contract CFO services, and Controller solutions to entrepreneurial growth companies. The firm specializes in providing strategic advisory and management for companies raising growth capital and considering M&A/recapitalization opportunities, cost-effective financial reporting, budgeting & forecasting, implementing controls, complex modeling, and business valuations. Most of the firm’s clients are growing technology, healthcare, business services, consumer, and industrial companies at various stages of development from start-up and expansion to tens of millions in annual revenue.
Scale Finance LLC has offices throughout the eastern seaboard including Charlotte, Raleigh/Durham, Pinehurst/Southern Pines Washington, D.C. and South Florida with a team of more than 55 professionals serving over 100 companies throughout the U.S.