[September 29, 2015] |
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PulsePoint Raises $30 Million From Silicon Valley Bank as Company Eyes Acquisition Targets
PulsePoint,
a global programmatic platform for brand engagement, announced its
recent $30 million debt financing from Silicon Valley Bank. The funds
will be used for business expansion and future acquisitions of
technology companies. This announcement comes on the heels of PulsePoint
being named an Inc. 500 Fastest Growing Private Company, with 106%
year-over-year revenue growth, strong profitability and solid cash flow
and more than 800 billion biddable impressions across PulsePoint's
industry-leading programmatic platform in 2014.
"This financing enables us to aggressively capitalize on the burgeoning
market opportunities before us, and the partnership with Silicon Valley
Bank will certainly help us to reach our expansive growth goals,
including M&A or future IPO," said Sloan Gaon, CEO of PulsePoint. "The
loan reinforces our position in the marketplace and allows us to
accelerate the expansion of our already profitable company."
"The evolution of PulsePoint's corporate portfolio reaffirms our
longevity within the programmatic space," said Darline Jean, COO of
PulsePoint. "We've been researching various M&A opportunities to grow
our existing suite of proprietary technology and programmatic offerings."
PulsePoint recently launched the industry's first
programmatic content marketing platform, which leverages its
programmatic capabilities for delivering both article-based and
video-based content marketing for brands to publishers. Earlier this
year, PulsePoint launched a native
programmatic offering, which allows advertisers to deliver
full-funnel brand experiences across native, social and display
inventory at scale.
"We are pleased to be providing PulsePoint with these funds to help the
company explore new technologies and business endeavors," said Michael
Moretti, a Managing Director at SVB. "PulsePoint is a strong technology
partner in the programmatic space and partner of Silicon Valley Bank and
we look forward to seeing these additional funds used to help grow their
business."
About PulsePoint
PulsePoint, a global programmatic advertising platform, fuses the
science of programmatic targeting, distribution and optimization with
the art of brand engagement. The PulsePoint Platform is powered by
terabytes of impression-level data, allowing brands to efficiently
engage the right audiences at scale while helping publishers increase
yield through actionable insights. Investors in the company include
Draper Fisher Jurvetson (DFJ), Gotham Ventures, New Atlantic Ventures
(NAV), Investor Growth Capital, Updata Partners and VantagePoint Capital
Partners. The company is headquartered in New York City with offices in
San Francisco and London.
About Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative
companies and their investors move bold ideas forward, fast. SVB
provides targeted financial services and expertise through its offices
in innovation centers around the world. With commercial, international
and private banking services, SVB helps address the unique needs of
innovators. Forbes named SVB one of America's best banks (2015) and one
of America's best-managed companies (2014). Learn more at svb.com.
Silicon Valley Bank is the California bank subsidiary and commercial
banking operation of SVB Financial Group (Nasdaq: SIVB), and a member of
the FDIC. Silicon Valley Bank and SVB Financial Group are members of the
Federal Reserve System.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150929005632/en/
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