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Silicon Valley Bank Closes $13MM Credit Facility for Minim (Zoom Telephonic)

March 16, 2021, 07:50 AM
Filed Under: Technology

Zoom Telephonic, doing business as Minim, the creator of innovative internet access products, closed on a $13.0 million credit facility in partnership with Silicon Valley Bank in lieu of its previous $5.0 million credit facility. This announcement follows a record-breaking quarter and year in Minim’s revenue.

“We are pleased to work with Silicon Valley Bank on a credit facility that will assist Minim in seeking to sustainably accelerate growth,” said Sean Doherty, CFO of Minim. “From recent market analysis, we are optimistic that the post-pandemic era will bring continued reliance on telemedicine, hybrid remote work models, remote education, streaming entertainment, and Gigabit speeds—making performant, secure home WiFi a global imperative. Through our expanded credit facility, Minim will invest in sales, marketing, and new product introductions to address the demand for advanced connectivity products that homes need.”

Minim delivers smart software-driven communication products under the globally-recognized Motorola® brand. The company’s cable modem, gateway, router, and MoCA systems can be found in retailers and e-commerce channels nationwide, including: Best Buy, Target, Walmart, Microcenter, and Amazon. The company’s connectivity hardware and software are also available for purchase via over 130 Internet Service Providers and technology distributor Telarus.

"Minim is delivering high-quality software, hardware and services to connect customers and homes in the US and internationally," said Sarah Kwan, Vice President of Technology Banking at Silicon Valley Bank. "We are proud to work with the Minim team and support the company's growth."

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