E-commerce platform Rearden Commerce recently received a $9.3 million round of debt financing, according to an SEC filing from the company.
The financing, according to a company spokesperson speaking to VentureBeat, is a "small amount of debt financing used to clean up the balance sheet."
The company's main product uses data to help better market and sell products. It took on a $133 million round of funding in September 2011, and has since remained relatively quiet. It was founded in 1999, and has taken on hundreds of millions of dollars in other funding rounds throughout its lifetime.
We are unsure at this time why the company would need the debt financing, or why it would need it to clean up the balance sheet. The filing states that $9.1 million of the financing comes in the form of secured promissory notes "convertible into preferred stock and $250,000 in warrants convertible into preferred stock."