Extreme Reach Signs $9 Million Credit Facility With TD Bank
Extreme Reach, Inc., a provider of video advertising management, ad distribution and ad serving solutions, announced that the company has closed a $9 million credit facility from TD Bank. The proceeds from the financing will be used to fund strategic acquisitions and support initiatives that further accelerate the company’s rapid growth.
In 2011, Extreme Reach achieved 300% year-over-year growth, exceeded aggressive profitability goals, and became the first company to combine TV ad distribution and online video ad serving on a single video platform. The company intends to use the TD Bank credit facility to support initiatives and acquisitions that leverage and expand its industry-leading cross-media position. The company’s aggressive plans for 2012 include the introduction of new integrated solutions that will seamlessly tie TV and online video advertising even closer together by eliminating some of the industry’s most costly cross-media hurdles and steps for brands and their agencies.
“TD Bank’s investment in Extreme Reach is a validation of our aggressive growth trajectory,” stated Nancy Lazaros, CFO of Extreme Reach. “It’s a clear recognition of our success to date and an indicator of their confidence in our bold plans for the coming year.”
“We’re committed to working closely with our clients to understand their business so that we can develop customized financial solutions that meet their needs,” said Mathew L. Coyne, vice president, Commercial Lending relationship manager, TD Bank. “We’re proud to partner with Extreme Reach in helping to facilitate this leading company’s continued success and strategic growth objectives.”