Zoom Telephonics, doing business as Minim, a creator of internet access products, closed on a $13 million credit facility in partnership with Silicon Valley Bank in lieu of its previous $5 million credit facility.
“We are pleased to work with Silicon Valley Bank on a credit facility that will assist Minim in seeking to sustainably accelerate growth,” Sean Doherty, CFO of Minim, said. “From recent market analysis, we are optimistic that the post-pandemic era will bring continued reliance on telemedicine, hybrid remote work models, remote education, streaming entertainment and Gigabit speeds, making performant, secure home WiFi a global imperative. Through our expanded credit facility, Minim will invest in sales, marketing and new product introductions to address the demand for advanced connectivity products that homes need.”
“Minim is delivering high-quality software, hardware and services to connect customers and homes in the U.S. and internationally,” Sarah Kwan, vice president of technology banking at Silicon Valley Bank, said. “We are proud to work with the Minim team and support the company’s growth.”
Minim delivers smart software-driven communication products under the Motorola brand. The company’s cable modem, gateway, router and MoCA systems can be found in retailers and e-commerce channels. The company’s connectivity hardware and software are also available for purchase via more than 130 internet service providers and technology distributor Telarus.
