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MOBI Secures Debt Facility From Silicon Valley Bank

May 29, 2015, 07:30 AM
Filed Under: Technology

MOBI, a leading provider of managed mobility software and services to enterprises, announced the funding of a new debt facility from Silicon Valley Bank (SVB). MOBI is partnering with SVB to power its expansion and accelerate its strategic growth in the global enterprise mobility marketplace.

Renowned as a top international financial institution for enabling innovative companies to capitalize on bold ideas, SVB has partnered with MOBI to equip the company with added resources for executing on its mission to improve the way today’s organizations manage mobility programs.

“The rise of smartphones and BYOD programs in the corporate world has created new complexities and challenges for businesses of all sizes. MOBI’s cloud-based platform is helping to solve this prevalent problem by providing businesses with the tools and services they need to better manage their mobility programs,” said Dennis Grunt, Director, Silicon Valley Bank. “As the company prepares for its next phase of growth, our goal is to empower the MOBI team to move its business forward quickly with a combination of the right financing, connections and insights.”

The new funding from SVB will enable MOBI to further help its customers achieve unprecedented control and visibility when it comes to the way they manage mobile devices, significantly reducing costs and increasing efficiencies.

“The flexible debt structure that SVB designed for MOBI will help strengthen our financial position and enable us to fund some of the major projects that are already underway as our company continues to experience rapid growth in the managed mobility services market,” said Andrew Davis, CFO, MOBI. “SVB is a world-class financial institution that truly understands the capital requirements of growing technology-based companies. The MOBI team is delighted to have partnered with them on this deal.”

MOBI provides software and services to help companies manage mobility. MOBI’s cloud-based software centralizes the management of mobile devices by integrating with wireless carriers, MDMs, corporate IT systems, and more.

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