QUMU - Qumu secures $10M revolving credit facility

Qumu ([[QUMU]]) closed a $10M revolving credit facility with Wells Fargo Bank; revolving credit facility availability is determined by recurring revenue, and has a maturity date of Jan. 15, 2023."These benefits are important as we continue to execute our long-term strategic roadmap to position Qumu as a cloud-first organization and drive sustainable growth and high-margin, SaaS recurring revenues," CFO Dave Ristow commented.The company believes that led by work from home norms, demand for large-scale streaming, video on demand, and video content management capabilities is high and enables it to realize financial and operational objectives in 2021.

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Qumu secures $10M revolving credit facility