PALO ALTO, Calif.--(BUSINESS WIRE)--
Avidbank Corporate Finance, a Division of Avidbank that specializes in
technology and asset-based lending, has expanded its credit facilities
to 4INFO. In addition to renewing the Line of Credit, Avidbank provided
an additional growth capital term loan to support the Company’s
continued revenue growth plans.
4INFO has been at the forefront of mobile innovation since 2004 and is
headquartered in San Mateo, CA with offices in New York, Los Angeles,
Chicago and Boston. 4INFO is a fast-growing mobile technology company
solving the mobile attribution challenge for national brand advertisers
to measure the return on investment (ROI) that matters most: sales lift
at the cash register.
“With our tremendous growth fueled by solving the measurement problem
for marketers that has previously held back mobile ad spending,” stated
Tim Jenkins, CEO of 4INFO, “we appreciate having a partner like Avidbank
to support our continued rapid expansion.”
“As 4INFO continues to grow and demonstrate strong financial
performance, we are pleased to provide the Company the growth capital it
requires, as well as renew its existing line of credit,” stated Jeffrey
Javier, Head of Business Development of Avidbank Corporate Finance.
Avidbank Holdings, Inc. (OTCBB: AVBH), headquartered in Palo Alto,
California offers innovative financial solutions and services. We
specialize in the following markets: commercial & industrial, corporate
finance, asset-based lending, real estate construction and commercial
real estate lending, and real estate bridge financing. Avidbank advances
the success of our clients by providing them with financial
opportunities and serving them as we wish to be served – with mutual
effort, ingenuity and trust – creating long-term banking relationships.
4INFO is a fast-growing mobile technology company solving the mobile
attribution challenge for national brand advertisers to measure the ROI
that matters most: sales lift at the cash register. A privately held
company, 4INFO’s brand ad revenue tripled in 2013 over 2012 – and
continues to experience exponential growth. 4INFO’s proprietary,
patent-pending mobile technology has tied 152 million mobile devices to
101 million U.S. households. 4INFO’s flagship product – AdHaven Bullseye
– enables advertisers to target consumers with the same precision as
online and direct mail advertising. AdHaven Bullseye anonymously matches
mobile device data to household-level purchase data providing the
ability to measure actual sales results from a mobile ad spend. Launched
in March 2013, 4INFO’s AdHaven Bullseye has already powered mobile ad
campaigns for more than 75 national brands with impressive accuracy and
results: sales increases between 5 and 20%, ROI averaging 382% and as
high as 600%, and market share increases at the expense of competitors.
4INFO collaborates with the most trusted 3rd party data providers of
purchase and lifestyle data – including Acxiom, Nielsen, and Nielsen
Catalina Solutions. On the forefront of mobile innovation since 2004,
4INFO is headquartered in San Mateo, Calif., with offices in New York,
Los Angeles, Chicago and Boston. Learn more at www.4INFO.com
Avidbank Holdings, Inc.
Steve Leen, 650-843-2204
Source: Avidbank Holdings, Inc.