Upland Software Secures $240 Million Refinancing with Sound Point Capital

Upland Software, a prominent player in AI-powered knowledge and content management software, announced its successful acquisition of a $240 million, six-year term loan from private credit lender Sound Point Capital. This refinancing effort extends Upland's debt maturity to 2031 and includes an additional $30 million revolving credit facility, augmenting the company's financial liquidity and operational flexibility. Upland's CEO, Jack McDonald, highlighted the speed and certainty provided by Sound Point Capital as a key differentiator in the refinancing process. The refinancing aims to bolster Upland's investment capabilities in its AI-driven solutions, ultimately driving long-term value for customers and stakeholders. Legal advisors involved in the transaction included Morrison & Foerster for Upland Software and Paul Hastings for Sound Point Capital. HGGC, a significant investor in Upland, also benefits from its partnership-focused approach to building enterprise value. Sound Point Capital, a New York-based asset management firm, specializes in credit strategies and manages a diverse portfolio of assets. The collaboration between these firms reflects a strategy to create scalable growth and maintain expertise in the technology sector.