SaaS Capital has provided growth debt to Xima Software, a South Jordan, Utah contact-centre software company.
The size of the facility was not disclosed, nor was the use of proceeds.
Xima sells cloud contact-centre software. Its AI-powered platform is used by mid-market customer-service centres for prescriptive analytics and to run an omnichannel workflow. SaaS Capital said Xima has thousands of customers, with a focus on healthcare, financial services, field services and transportation.
Founded in 2007 by Nate Thatcher and Cody Winget, Xima first sold Chronicall, an on-premises contact-centre reporting system, before moving the platform to the cloud. The company is now led by Chief Executive Matt Warta, previously an Operating Partner at majority owner of Xima, Bow River Capital.
The facility follows a majority growth equity investment from Bow River Capital's Software Growth Equity Fund in April 2022, Xima's first institutional capital. The size of that investment was not disclosed. Bow River Capital, a Denver private alternatives firm founded in 2003, said the money was meant to support global growth, operating and technical infrastructure, and commercial expansion. Steven Joanis, Managing Director at the fund, Colin Haas and John Raeder joined the Xima board as part of the transaction.
Xima has been majority-owned by Bow River since that investment. SaaS Capital does not require borrowers to be venture-backed or profitable.
SaaS Capital closed SaaS Capital Fund V, LP at $100 million in October 2025. Managing Directors Rob Belcher and Randall Lucas said the vehicle would keep backing traditional B2B SaaS as well as subscription AI application companies. The Cincinnati and Seattle firm provides committed, multi-year growth debt to B2B software companies, typically to fund sales and marketing, product development, acquisitions and working capital.
The firm lends $2 million to $15 million to companies with at least $3 million of annual recurring revenue, usually against a borrowing base of five to eight times monthly subscription revenue, in the United States, Canada, the United Kingdom and Ireland.
SaaS Capital said it was the first lender to underwrite software businesses on future recurring revenue. Since 2007 it has committed more than $375 million of growth debt across more than 110 clients. The Xima facility was one of three new portfolio additions the firm announced together.