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North Merrick, NY,– via NEWMEDIAWIRE — Defense contractor Provengo announces a major investment from Decathlon Capital Partners to drive the company’s growth, expand the team and enhance customer service. Over the last 15 years Provengo has evolved into a leading online retailer of personal outdoor, operational, tactical equipment and other logistical support gear, in addition to fulfilling government contracts. New customer sign-ups more than doubled in the last year. Decathlon’s seven-figure capital infusion will be used to drive the company’s growth plans.
Provengo’s product line covers combat and tactical equipment, communication devices, fire-resistant uniforms and other clothing, vehicle parts, building materials and medical field equipment.
“Our customer growth continues to scale beyond our expectations,” said Provengo President Chris Barbarino. “Partnering with Decathlon Capital enables our Provengo team to accelerate our expansion plans and exceed our goals.”
“We have a pipeline of government contracts and that, combined with fast-growing sales on our online retail sites, makes it essential for us to expand the team and meet the expected demand for top-notch customer service,” said Executive Vice President Terry Steinberg. “Decathlon is helping us hit these targets faster.”
“Provengo shows a knack for identifying a need and fulfilling it,” said Decathlon’s Wayne Cantwell. “They’ve grown from a robust line of business in defense contracting to online retail sales of rugged gear for outdoorsy civilians. They’re ready for action in a prime growth market and Decathlon is pleased to make this investment in their plan.”
The Provengo mission is to offer expedited equipment at deeply discounted prices for those serving and protecting the United States. Established in 2004, Provengo has been supplying the Department of Defense for more than 15 years. In 2015, the company expanded into a full-service ecommerce website. Provengo has a reputation as a business that genuinely cares about its customers. Learn more at https://www.provengo.com/.
About Decathlon Capital Partners
Decathlon Capital Partners provides growth capital for companies seeking alternatives to traditional equity investment. Through the use of highly customized revenue-based financing solutions, Decathlon provides long-term growth capital without the dilution, loss of control and operational overhead that often comes with equity-based funding. With offices in Palo Alto and Park City, Decathlon is the largest revenue-based funding investor in the U.S. and is active across a wide range of sectors. Learn more at www.decathloncapital.com.