Arc raises $20 million

Arc Technologies has closed a $20 million Series A financing round led by Left Lane Capital, with participation from NFX, Y Combinator, Clocktower Technology Ventures, Torch Capital, Atalaya, Bain Capital Ventures, Soma, Alumni Ventures, and Dreamers VC, as well as the founders of Wayflyer, Plaid, Column, Chargebee, Vouch, and Jeeves.

Launched in January, the California-based startup describes itself as a full-service finance platform for SaaS companies. Its introductory product, Arc Advance, allows companies to convert future revenue into upfront capital, and it also offers banking products with different features.

Arc supports today 1,000+ “high-growth software startups” on its platform.

“We are building the #1 digital bank for software startups. For the first time, startups can tap into their future revenue to access capital without dilution, deposit those funds into an FDIC-eligible account, and leverage proprietary finance software to optimize growth. We’re thrilled to join forces with this talented group of investors who bring relevant experience transforming fintech and SaaS startups into market-leading platforms. This capital injection will help us build and scale Arc Treasury to meet the digital banking needs of a new generation of software-driven businesses.” – Don Muir, co-founder and CEO of Arc.

“Arc is setting the industry standard with its innovative financial solutions that help early-stage companies secure, spend and save capital without having to give up equity. We’re confident that the Arc team has the leadership, vision and expertise to redefine the alternative financing category and help startups grow sustainably, innovate and create new markets as we enter the next era of the economy.” – Dan Ahrens, managing partner at Left Lane Capital.