Drips, concurrently with a previously announced growth investment, established a credit facility with Wells Fargo Capital Finance’s technology finance group.
The Wells Fargo facility will support Drips’ growth as it expands its team and improves its conversational SMS messaging platform.
“It’s an exciting time at Drips as we spend this year focusing on our next phase of growth. The Drips team’s hard work, talent and dedication is what drives this company, and this credit facility from Wells Fargo Capital Finance will help enable us to grow, innovate and expand even further,” Aaron Christopher Evans, CEO of Drips, said.
“Drips has established itself as an early champion of AI-driven SMS messaging,” Michael Ackad, head of Wells Fargo Capital Finance’s technology finance group, said. “As a leader in software and recurring revenue-based lending, we are pleased to provide a financing solution that will allow Drips to continue to innovate and scale its platform.”
Drips’ AI-driven platform drives engagement through a natural language processing model that resembles a human-like conversation.
“We’ve been able to accomplish an impressive feat in just a few years,” Evans said. “The biggest impact from these investments is that we will have more resources to grow Drips. We are going to scale rapidly, and we can’t wait to see what impact this growth will have on the Drips platform, which has handled more than half a billion humanized conversations to date.”
