CrowdOptic Closes Debt Financing with Silicon Valley Bank

Published On January 2, 2013 |

CrowdOptic, a San Francisco, CA-based maker of crowd-driven mobile applications, has closed additional debt financing with Silicon Valley Bank (Nasdaq: SIVB).

The amount of the deal was not disclosed.

The company intends to use the proceeds to roll out a full suite of products as part of an end-to-end enterprise solution.

Led by CEO and Co-Founder Jon Fisher, and COO Jim Kovach, CrowdOptic has developed crowd-powered mobile technology that recognizes the hottest crowd activity in real time. It tracks where smartphone cameras are located and where they are pointed to filter mobile social media and create new opportunities for eyewitness engagement. CrowdOptic identifies, tags and rebroadcasts the live event experience to the world, on mobile, social TV and second screens.
The company has already experienced demand for myriad applications, including both consumer front-end applications, and back-end, big data-driven enterprise solutions.

FinSMEs

02/01/2013

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