Prestige Capital provided a $7.5 million line to a Salt Lake City-based artificial intelligence company that faced a funding roadblock during a four-month engagement with a potential funding source.
Despite persistent efforts by the company, the needed funding remained elusive, hindering the company’s ability to capitalize on emerging opportunities within the AI sector. The company’s CEO and investment banker turned to Prestige Capital, driven by a prior experience with the company. Prestige Capital provided the required funds in less than two weeks.
“It’s gratifying to witness a traditional funding concept supporting businesses leveraging technology for our future,” Stuart Rosenthal, president of Prestige Capital, said.
