Business wire
Chicago Atlantic Provides Term Loan to One of World’s Largest Cloud-Based In-Store Clienteling Software Providers
Alise M. Edgcomb
Managing Director, Public Relations
(419) 202 – 3988
aedgcomb@chicagoatlantic.com
Chicago Atlantic Admin, LLC (“Chicago Atlantic”) announced that it acted as administrative agent on the funding of a senior secured term loan for Tulip.IO Inc. (“Tulip”), one of the largest cloud-based clienteling and mobile point of sale providers, which helps iconic retail brands realize the full potential of omnichannel commerce.
The transaction is part of Chicago Atlantic’s growth and technology finance strategy that supports category leaders and established brands as they scale. Omnichannel synchrony is becoming essential for retailers to succeed in today’s competitive environment,1 and the Tulip platform has been used by dozens of prestigious brands, including Mulberry, TUMI, Theory, David Yurman, Coach and others.
“Tulip realizes an opportunity to help in-store personnel offer more tailored customer service, while scaling to a large multitude of clients,” said David Enright, Partner and Head of Direct Lending at Chicago Atlantic. “We’re impressed by how Tulip alleviates store associates from the burden of adapting to changing technology, and instead, presents tools in ways that directly support their outputs.”
Tulip’s quantifiable value proposition includes a “Tulip Influenced Sale” metric to show exactly how and where its technology is driving sales. Tulip conversions through clienteling communications can be as high as 31 percent.2
“We found common ground with Chicago Atlantic very quickly – they share our drive to improve complex industries with straightforward solutions and entrepreneurial spirit,” said Craig Hudson, Chief Financial Officer at Tulip. “It’s more than just capital. Chicago Atlantic understands our business goals and will be a key partner in elevating our company.”
1 The Future of Commerce, 2024.
2 Tulip.com, 2024.
About Chicago Atlantic
Chicago Atlantic is a private markets alternative investment manager focused on industries and companies where demand for capital exceeds traditional supply. The firm’s investment strategies include opportunistic private credit and equity with focuses on loans to esoteric industries, specialty asset-based loans, liquidity solutions and growth and technology finance. Chicago Atlantic has closed over $2.3 billion in credit facilities since inception. Chicago Atlantic’s team of over 80 professionals has offices in Chicago, Miami, New York and London. For more information on Chicago Atlantic’s investment opportunities and financing products, visit chicagoatlantic.com.
About Tulip
Tulip is the world’s largest cloud-based retail customer engagement platform provider, with best-in-class Clienteling and POS capabilities that let retailers realize the full potential of omnichannel commerce. The world's most iconic retailers like David Yurman, Versace, Jimmy Choo, Mulberry, Saks Fifth Avenue, Ferragamo, COACH, and Michael Kors use Tulip to modernize the shopping experience, creating personalized shopping journeys that increase sales and improve customer loyalty across channels. Tulip enables retailers to build deeply personal connections with customers, fulfill orders, close out purchases, and maximize store associate productivity and performance.
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