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Silicon Valley Bank Agents $50MM Credit Facility for GENBAND

July 28, 2016, 07:35 AM
Filed Under: Technology

Silicon Valley Bank (SVB) announced it has entered into a corporate banking partnership with GENBAND™, a global leader in real-time communications solutions, to help support GENBAND's growth initiatives.  In addition to providing domestic and international banking services, SVB acted as lead agent for a $50 million revolving credit facility to offer GENBAND additional working capital and enhanced financial flexibility.

GENBAND, headquartered in Plano, TX, works with the world's largest service providers, enterprises, independent software vendors, systems integrators and developers in over 80 countries. Founded in 1999, GENBAND has grown from a single-product startup to one of the largest global software and communications technology companies in the world.

"We selected SVB as our new corporate banking partner because they can provide us with the enhanced customized resources and capabilities that we need to keep up with the rapid growth we are experiencing," said Daryl Raiford, Chief Financial Officer at GENBAND. "Our new relationship with SVB allows us to continue in our quest of constantly seeking ways to better serve our customers, improve efficiencies and offer best-in-class solutions."

"We're pleased to partner with GENBAND to support the company's continued growth," said Robert Clouse, Director of Corporate Finance in Dallas, Texas. "GENBAND has achieved impressive growth over time and is guided by a leadership team that is focused on constant innovation. Our objective is to provide the GENBAND team with the right financing, connections and global services that it needs to be most successful."

Silicon Valley Bank works with large, multinational companies in the technology and life science sectors to offer tailored banking solutions in areas including financing strategies, treasury management and international banking. Through SVB Financial Group, its clients also have access to additional services such as strategic advisory, valuations, industry connections and private banking.

GENBAND is a global leader in real-time communications software solutions for service providers, enterprises, independent software vendors, systems integrators and developers in over 80 countries. Kandy, its award-winning, disruptive real-time communications software development platform, is built from the company's global telecommunications network and security technologies.

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