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Silicon Valley Bank, Underground Elephant Close $9MM Faciity

February 18, 2016, 07:26 AM
Filed Under: Technology

Underground Elephant, an online performance-based marketing company that drives high-efficiency sales growth for vertically-oriented customer acquisition programs, announced that it has secured $9 million in credit facilities from Silicon Valley Bank.

This funding from SVB will broaden the reach of Underground Elephant's comprehensive marketing software platform and accelerate customer adoption of the company's various B2B and B2C products, spanning existing and emerging digital channels.

"This line of credit, from a respected financial institution like SVB, allows us to accelerate our go-to-market strategy for UE's SaaS offerings," said Jason Kulpa, CEO of Underground Elephant. "Amidst rapid growth in demand for our marketing products and services, this credit facility provides additional resources to expand our customer base and access to talent."

"We're excited to continue our partnership with Underground Elephant in support of their rapid growth and expansion," said Eric Otterson, Managing Director at Silicon Valley Bank, who leads the San Diego-based technology team. "The San Diego tech ecosystem is at an inflection point and we thrive in helping these amazing entrepreneurs bring their visionary ideas to life."

"Underground Elephant is disrupting the customer acquisition industry," added Otterson. "SVB's objective is to empower them with the right financing, connections and global services needed to move their business forward quickly."

Headquartered in Downtown San Diego, Underground Elephant is an award-winning marketing technology company that develops programmatic advertising platforms in order to bring transparency and efficiency to the buying and selling of structured lead generation media. The company's robust portfolio of enterprise-grade tech solutions enhances the connection between enterprises and their prospective clients by delivering highly efficient pathways to organic sales conversations.

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.

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