Volusion, Inc., an Austin, TX-based provider of ecommerce software and services, completed a $35m debt financing with Silicon Valley Bank (Nasdaq: SIVB).
The company intends to use the proceeds to accelerate the enhancement and development of its platform and grow the team, including roles across the Product, Support, Sales, Marketing and IT organizations.
According to a note, the decision by the management team to finance the current capital needs with debt rather than venture capital or private equity allows the stockholders and employees to retain the value that will be created by the investment and directly aligns with plans for a potential initial public offering in the future.
Led by Clay Olivier, CEO, Volusion provides businesses with tools to manage ecommerce websites, shopping carts and hosting. The Volusion platform is designed for entrepreneurs and SMBs while the Mozu platform is built for the large enterprise market.
FinSMEs
13/01/2014