The firm isn't content with just being a traditional VC firm.
Venture firm General Catalyst has quietly provided non-dilutive financing to more than 40 companies over the last five and half years, betting their ensuing revenue growth would more than pay back the cash.The firm finances a company's growth by providing it with the cash for up to 80% of its monthly sales and marketing budget.
But if the company doesn't grow its customer base during that month or quarter, GC doesn't get repaid on the sales and marketing capital it provided during that period."When you look at technology companies, once they've found product-market fit, most of the money goes into sales and marketing," says GC managing director Pranav Singhvi, who oversees the firm's Customer Value Financing program.
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