FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / Press Releases / Read Press Release

Print

Silicon Valley Bank Provides $5MM Revolver to Augme Technologies

May 10, 2013, 09:32 AM
Filed Under: Marketing


Augme Technologies, Inc.,  a technology leader in mobile marketing and advertising, secured an accounts receivable credit facility from Silicon Valley Bank. The revolving loan credit facility has a two-year term and allows Augme to borrow up to $5 million based upon a predetermined formula in the credit and security agreement.

"The accounts receivable facility is an efficient way for Augme to access cash without diluting equity," said Ivan Braiker, CEO of Augme. "Our strong relationships with Silicon Valley Bank helped us to secure this non-dilutive financing option, as we prepare for the next stage of growth at Augme."

AugmeTechnologies, and its wholly-owned subsidiary Hipcricket, provides a customer engagement platform that empowers brands, agencies and media properties to engage customers, drive loyalty and increase sales via mobile.







Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.