Pontis Inc. has secured a $5 million credit line from Silicon Valley Bank. The company will use the loan for operational needs and working capital. This is the company's second loan from the bank, the Israeli branch of which is managed by David Cohen.
In addition to the credit line, Pontis has raised $45 million from several venture capital firms, including Evergreen Venture Partners, Accel Partners, Sequoia Capital, Norwest Venture Partners, and Western Technology Investments (WTI).
Pontis VP corporate projects Michael Kerbis and Ofer Shenkin founded the company in 2003. The company's software platform optimizes added value services that mobile carriers offer customers. For the past two years, the company has been trying to grow rapidly, with an emphasis on revenue. The loan will help the company carry out this strategy.
Published by Globes [online], Israel business news - www.globes-online.com - on April 2, 2012
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