The Ledger
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Austin: Synapse secured Comerica venture debt to take 30% debt in Series A
“So we brought on some venture debt through Comerica Bank. And it was mainly to really build the relationship early so that when we do our Series A, we can take about 30% of venture debt on top of that next round.”
Austin: Synapse eliminated minimums for $1,500 per seat pricing
“Annually and increased from there based off a per seat model, but we actually just flipped the switch with COVID to not having any minimums and pricing at 1500 dollars a seat to lower all barriers, and we're seeing contracts come through at greater deal value …”
Austin: Synapse took on an additional $1M in August
“So we just took on another million dollars in August.”