SVB Provides Fiksu Mezzanine Debt Funding
Fiksu announced it secured $10 million in mezzanine debt funding from Silicon Valley Bank. The company plans to use the funding to continue to support further global expansion and ongoing development for the company’s award-winning Programmatic Mobile Demand Platform.
The financing comes on heels of the announcement that the company surpassed $100 million in annual revenue and hired Kenneth Goldman as CFO.
Fiksu experienced exceptional growth this year, adding over 100 employees bringing the employee count to almost 300 and driving over 1 billion client downloads in nine months, accelerating the company’s trajectory as the leader in mobile marketing. Fiksu counts leading brands such as Coca-Cola, Disney, The New York Times, Dunkin’ Donuts, Groupon and Topps among the customers it works with to optimize mobile ad targeting and enhance campaign performance.
“This has been a banner year of domestic and international growth, marquee customer wins and unprecedented revenue milestones for Fiksu,” said Kenneth Goldman, CFO, Fiksu. “This financing enables us to continue to capitalize on the burgeoning market opportunities before us, and the partnership with Silicon Valley Bank, with its proven history of
success working with high tech innovators, will certainly help us to reach our expansive growth goals.”
In addition to offices in San Francisco and Northampton, Massachusetts, and overseas in London, Finland, Singapore, South Korea and Japan, the company is doubling its office space in its Boston headquarters and recently opened new U.S. offices in New York City, Chicago and Los Angeles. Fiksu expects to continue aggressively expanding its global
workforce in the coming year.
“It is our pleasure to work with Fiksu, and other innovative companies around the world that are leading their industries, as they reach new levels of success and pursue ambitious goals,” said Dan Allred, market manager, of Silicon Valley Bank in Boston. “Our aim is to help the Fisku team move its business forward quickly with the right financing, connections and global services it needs as the company expands globally and prepares for its next phase of growth.”
Fiksu has previously raised two rounds of equity funding from Charles River Ventures and Qualcomm Ventures.
Fiksu is a provider of mobile marketing products.