In fact, today over 50% of the companies using its platform are non-SaaS companies, compared to 25% in May. Pipe’s platform has evolved to offer non-dilutive capital to non-SaaS companies as well. The goal of the platform is to offer companies with recurring revenue streams access to capital so they don’t dilute their ownership by accepting external capital or get forced to take out loans. (Pipe describes its buy-side participants as “a vetted group of financial institutions and banks.”) Coffey was one of HubSpot’s first employees and witnessed the progression of the company from a startup with $1 million in ARR to a publicly traded company with $1 billion in annual recurring revenue.ĬEO Harry Hurst, Josh Mangel and Zain Allarakhia founded Pipe in September 2019 with the mission of giving SaaS companies a way to get their revenue upfront, by pairing them with investors on a marketplace that pays a discounted rate for the annual value of those contracts. Coffey left HubSpot - where he worked for over 13 years and most recently served as chief strategy officer for nearly 5 - to serve as Pipe’s chief customer officer, where he will be responsible for driving continued growth and expansion of verticals beyond Pipe’s initial launch market of SaaS. She was also previously manager of curation and content at Kickstarter. Orlando has left her role as editor-in-chief of fintech giant Stripe, where she has worked for over four years, to head up content for Pipe. More funding flows into Pipe, as buzzy fintech raises $250M at a $2B valuation
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