Kabbage, Inc., an Atlanta, Georgia-based online provider of working capital for small businesses, has raised $30m in Series C funding.
The round, which brings the total amount raised by the company to date to $56m, was led by Thomvest Ventures, with participation from existing investors UPS Strategic Enterprise Fund, Mohr Davidow Ventures, BlueRun Ventures, Warren Stephens and David Bonderman, as well as Ron Conway’s SV Angel.
Kabbage intends to use the funding to further advance its technology and data platform, and expand partnerships.
Led by Rob Frohwein, CEO, the company has developed a platform that leverages dozens of data sources to determine real-time business performance and provide funding to businesses in a few minutes.
Launched two years ago, Kabbage now fuels over $800 million in annual sales for its small business customers.