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Q1Media Secures $8 Million in Financing
AUSTIN, Texas, April 1, 2014 /PRNewswire/ --Q1Media, Inc., an online advertising technology company, announced that it has secured debt facilities totaling $8 million to expand its operations. Silicon Valley Bank provided $5 million in senior debt and Partners for Growth agreed to provide $3 million for a junior debt facility.
"We are pleased to enter this relationship with Silicon Valley Bank and Partners for Growth," stated Phil Banfield, CEO, Q1Media, Inc. "After a successful 2013 in which we experienced 90% revenue growth and achieved profitability, we now have the means to step up the pace of our expansion and more rapidly gain market share in the supply-focused Ad Tech space."
Q1Media works with web publishers to maximize their display and video advertising revenue across desktop, tablet and mobile platforms. Q1Media reaches over 200 million unique monthly visitors and generates over 500 million paid video ad views per month through its relationships with over 1500 web publishers.
"Helping the Q1Media team get to the next phase of business growth is exactly what we strive to do with specialized financing and banking services tailored to innovative companies of all sizes," said Travis Wood, Managing Director for Silicon Valley Bank. "Q1Media is taking advantage of the opportunity in the market, and we're glad to be there to support them as they continue to grow."
"We are excited to partner with Phil Banfield and his team at Q1Media as they continue to rapidly grow their business," said Jason Georgatos, Partner at Partners for Growth. "Q1Media's innovative products and technology allow it to stand out in the Ad Tech space and leave it poised for further growth and success."
Q1Media was founded in Austin, Texas in 2004. The company was recognized as one of the fastest-growing privately held companies in the United States in 2013 by INC Magazine. The Texas Association of Businesses named Q1Media as one of Texas' Best Places to Work in both 2013 and 2014.
Q1Media, Inc. is a publisher-focused ad technology company. Q1Media developed and operates a proprietary Ad Tech platform that creates incremental ad inventory for publishers that is 100% viewable and programmatically valuable. Q1Media works with over 1,500 premium web and mobile publisher partners. It has a reach of over 200 million unique visitors across video, mobile and display and generates over 400 million video ad views per month according to comScore Video Metrix. Q1Media works closely with DSP's, trading desks and exchanges to maximize the value and performance of this inventory, and also directly with brands and premium publishers to deliver custom, premium advertising executions. For sales inquiries, visitwww.q1media.com.
About Silicon Valley Bank
Silicon Valley Bank is the premier bank for technology, life science, cleantech, venture capital, private equity and premium wine businesses. SVB provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 28 U.S. offices and six international operations. (Nasdaq: SIVB) www.svb.com.
Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Financial Group is also a member of the Federal Reserve System.
About Partners for Growth
Partners for Growth (PFG) is a leading provider of custom debt solutions to revenue stage technology and life science companies worldwide. Founded in 2004 by the former members of Hambrecht and Quist's venture lending group, PFG is currently investing a $205MM debt fund and providing $1 to $10 million financing solutions for its clients. PFG continues to work closely with longtime partner Silicon Valley Bank. For more information on PFG please visit www.pfgrowth.com.
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