Daily News: February 29, 2012

Mobiquity Secures $3 Million Credit Facility From Comerica

Mobiquity, Inc., a professional services firm specializing in user-centered design, build, deployment and management of innovative enterprise-class mobile solutions, announced it has secured a $3 million credit facility from Comerica Bank’s Technology & Life Sciences Division. Mobiquity will leverage the funds as working capital to help support the company’s continued hyper-growth as a leading provider of mobile professional services.

“Mobiquity is among the most exciting companies in the mobile industry, and we are pleased to provide this credit facility to the company to support their rapid growth,” said William Sweeney, senior vice president for Comerica Bank’s Technology and Life Sciences Division, Waltham, MA office.

“The pace of Mobiquity’s growth to date is exceeding anything I’ve experienced in my long career of leading multi-million dollar professional services firms, like ZEFER and Cambridge Technology Partners,” said Bill Seibel, founder and CEO of Mobiquity. “The Global 2000 is responding with enthusiasm to Mobiquity’s range of services and our expertise in helping them harness the power of mobile as a disruptive business force. This working capital will help position Mobiquity to expand in additional geographies and focus on specific vertical markets including mHealth, financial services and insurance, media and entertainment and travel, transportation and hospitality.”

Mobiquity is a professional services firm working with the Global 2000 to design, build deploy and manage enterprise-class mobile solutions.

Comerica Bank’s Technology and Life Sciences Division is a technology banking practice, offering a wide range of financial services tailored to corporate customers, entrepreneurs and professionals.