City National Bank Provides Debt Financing to Bizo
Bizo announced it raised $12.5 million in venture debt financing from City National Bank. With this funding, Bizo raised almost $30 million in total equity and debt capital, providing the company with the financial flexibility to support continued growth, further build out its technology platform and make strategic investments.
As a leading business audience marketing company, Bizo reaches more than 120 million business professions, works with more than 750 SMB marketers and enterprise brands such as American Express, Box, AT&T and Salesforce.com and is partnered with more than 4,200 publishers.
“City National Bank has been serving entrepreneurs for nearly 60 years and we are committed to helping them grow their companies,” said Rod Werner, managing director of City National Bank’s Technology and Venture Group in Palo Alto. “Bizo is well poised to strengthen its leadership position in a market that has drawn the attention and investment of the industry’s biggest players.”
“Today’s business audience is consuming information across many channels, devices and online environments,” said Russell Glass, CEO of Bizo. “Bizo delivers the technology, data, and B2B expertise that empower enterprise CMOs to reach and engage their prospects anywhere online and at every stage of the marketing funnel. We’re focused on providing game-changing capabilities to the market and debt capital is very inexpensive right now. This financing ensures we are well capitalized to maintain our leadership position in the B2B online marketing space and are well-positioned to make strategic investments as we continue to build a thriving business.”