Daily News: October 8, 2012

Silicon Valley Bank Provides $1.5 Million to Punchbowl


Punchbowl.com, a provider in start to finish party planning and digital greeting cards, announced that it has secured $1.5 million in financing from Silicon Valley Bank.

The financing comes on the heels of a significant product announcement from Punchbowl. Recently, the company announced Shopping Aisle, a modern way to shop for supplies, decorations, gift cards and more for Halloween, Thanksgiving, Christmas and birthday parties. With the introduction of Shopping Aisle, Punchbowl has designed a state-of-the-art online retail site that figures out what a consumer needs for a celebration based on previous actions.

“We’re delighted to be partnering with Punchbowl to help fuel their success,” said Dan Allred, senior relationship manager, Silicon Valley Bank. “The management team has proven that they know how to employ capital efficiently, and we’re looking forward to their next phase of growth.”

During the last three months of the year, millions of people will be invited to parties and receive digital greeting cards sent from Punchbowl. The additional funding will be used to expand marketing efforts and provide additional capital for eCommerce initiatives.

“Silicon Valley Bank is a true partner to our business,” said Matt Douglas, CEO, Punchbowl. “They share our vision for success and have demonstrated their commitment to be a leading source of capital for early-stage companies.”