Connectbase Secures $16 Million Debt Facility from Silicon Valley Bank to Fuel Growth of Connectivity Marketplace
Summary
Facility will be used for digital infrastructure intelligence and commerce platform in support of accelerated global expansion and ecosystem developmentBOSTON, July 18, 2023 /PRNewswire/ -- , The Industry Cloud for Connectivity, secured a $16 million debt facility from Silicon Valley Bank, a division of First Citizens Bank, to be used for growth and market expansion.The news comes on the heels of several major announcements, including the companys first acquisition. With the integration of LastMileXchange, Connectbase is the largest global quoting API ecosystem securely connecting buyers and sellers across six continents with more than 2.4 billion profiled locations in . "With the additional resources from this line of credit we will be able to accelerate our global growth strategy, and secure our position as the leading intelligence platform and marketplace," added Hazan. Connectbase is a partner to the industry, enabling next generation buying and selling of connectivity, including automated quoting, and providing deep, trusted insights. SVB operates in centers of innovation throughout the United States, serving the unique needs of its dynamic clients with deep sector expertise, insights and connections.
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