Randy Wootton

That's a great question.

My background in the military was a naval aviator.

I like things moving fast and making quick decisions, and I think that coming out of business school, the types of problems I was interested in were the ones where the innovation was coming from collaboration around interesting ideas and scaling things through organizations versus being the guy sitting by myself and coming up with a big idea.

No, I wasn't.

We did secure some additional funding.

As you can imagine, when you bring in a new CEO, it takes a little bit to define a new strategy, and then you want to have the funding to execute.

I had left Rocket Fuel, took some time off, and went surfing in Costa Rica, did some yoga, tried to come in touch with myself, and then my wife got sick of me trying to get in touch with myself at home, so I go get a job.

But I was very deliberate in looking for a company at this stage, focused on this problem.

Lots of exciting opportunities out here, but I thought Percolate had made enough of the transition that I could be successful.

All equity or is there debt on the top of that?

Well, there's, we have a line of debt that we run with Comerica, just like many companies do.

We access it as a sort of working capital line versus a funding line.

The equity last round was done in 2015.

So I

like most startups, you end up, you get a little money to prove a thesis and you execute 12 to 18 months.

You go get a little bit more money and you keep going.

Yeah.

So I inherited the debt line that we had.

It's an MMR debt line.

The additional debt is a convert.