APX Alarm receives $565M in financing

Utah-based APX Alarm announced this week that it recently received $565 million in financing from a group of lenders, which was led by Goldman Sachs Specialty Lending Group.

In a statement, the company said the $565 million it received in this agreement is $125 million more than it got during its previous round of financing. APX said the money will be used to aid growth in its residential security and energy management services.

In addition, the company also announced that it has surpassed the $20 million mark in recurring monthly revenue from its customers.

"We are very pleased to complete the bank financing in what is still a volatile capital market environment," said APX CFO Christopher A. Black in the statement. "The increased financing will allow us to deploy additional sales teams throughout North America."

 

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