Connected2Fiber Secures $1.5 Million Financing from Silicon Valley Bank
SAN FRANCISCO & BOSTON — October 30, 2019 — Connected2Fiber, the Industry Cloud for Connectivity, announces today that it has entered into a growth capital term loan agreement with Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and their investors. This agreement provides up to $1.5 million of new capital to Connected2Fiber to be used for continued company growth, enhanced product offerings and expansion into new markets. This news comes just three months after Connected2Fiber announced a $5.3 million round of funding earmarked for further investment in product development and go-to-market activities.
“Connected2Fiber is more than doubling our revenue year over year, as network operators and managed service providers realize our platform’s ability to drive revenue and automate complex processes,” said Yossi Hazan, Chief Financial Officer of Connected2Fiber. “This loan will allow us to keep pace with the incredible demand for location intelligence, further support the economy through additional hiring and partnerships, and continue investing in our growing product suite. We’re proud to partner with Silicon Valley Bank, which makes our financing easier through its comprehensive, connected platform and stellar customer support.”
Connected2Fiber’s core platform, The Connected World, provides trusted, location-based insight and applications to network sellers and buyers. The SaaS platform automates many sales and marketing processes for network operators and managed service providers, from plan to price, with trusted location insight serving as the foundation. With more than 2,100 active users, The Connected World contains more than 500 million unique locations actively tracked worldwide, providing unparalleled visibility and insight into global networks.
“We’re pleased to announce this new banking relationship with Connected2Fiber, a fast-growing company that’s successfully filling a gap in the connectivity market,” said Russell Follansbee, director of Silicon Valley Bank’s enterprise software team in New England. “Since Silicon Valley Bank is the bank of the innovation economy, Connected2Fiber is a natural fit for us. The Connected2Fiber team has created a forward-thinking, intelligent platform that’s helping to advance the connectivity space.”
Connected2Fiber is participating in The INCOMPAS Show, taking place Nov. 4-6 in Louisville, KY. Ben Edmond, Founder & CEO of Connected2Fiber, will join the three-part “Mapping a Better Broadband Future” session that starts at 9:10 a.m. on Wednesday, Nov. 6. The panel will discuss how the industry is leveraging wireline and wireless broadband to connect underserved and rural communities.
Connected2Fiber is the Industry Cloud for Connectivity, providing authoritative, location-based insight & applications to network sellers and buyers. The Connected World platform details and displays deep, trusted location-based insight and empowers users to leverage that insight to automate go-to-market processes around deal participation, account targeting, and product pricing. Visit Connected2Fiber on the web at www.connected2fiber.com or follow us on Twitter @connected2fiber.
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About Silicon Valley Bank
For more than 35 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.