SVB Doubles MTBC’s Credit Facility to $10MM

Silicon Valley Bank increased MTBC’s secured line of credit to $10 million to support future growth.

SVB Doubles MTBC Credit Facility to $10MM

MTBC, a provider of revenue cycle and cloud-based healthcare IT solutions, increased its secured line of credit with Silicon Valley Bank, which is currently untapped, to $10 million to support future growth.

SVB Provides $15MM Debt Facility to Sierra Oncology

Sierra Oncology obtained a debt facility from Silicon Valley Bank to support the advancement of its drug development programs.

SVB Expands Executive Team

Silicon Valley Bank appointed Nick Shevelyov as its new chief information officer and Robin Staples as its new chief technology officer. Shevelyov succeeds Roger Leone, who is retiring at the end of the year.

Horizon Leads $10MM Facility for MacuLogix

Horizon Technology Finance led a $10 million loan facility for MacuLogix. Horizon funded an initial $3.75 million of its commitment under the term loan facility and Silicon Valley Bank funded $1.25 million. SVB also provided a $3 million senior revolving line of credit to MacuLogix.

TriplePoint Capital Provides $5.5MM DIP for Tintri

A year after launching its IPO, Tintri filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code. The company will continue to operate its businesses as a debtor-in-possession under the jurisdiction of the bankruptcy court.

SVB Provides $10MM Credit Facility to Onit

Silicon Valley Bank provided a $10 million credit facility to Onit, a provider of enterprise legal management, contract management and business process automation solutions.

SVB Provides Facility for Start Up Insurer Ethos

New life insurer Ethos started operating in the U.S. with $11.5 million in financing led by Sequoia Capital and a credit facility from Silicon Valley Bank.

SVB, Oxford Upsize Reata Pharmaceuticals Facility to $125MM

Reata Pharmaceuticals amended its loan and security agreement with Oxford Finance and Silicon Valley Bank, increasing the term loan facility from $45 million to $125 million.

SVB Closes $3.5 Facility for Knightscope

Knightscope, a developer of advanced physical security technologies, completed a new $3.5 million term loan facility with Silicon Valley Bank.