The mobile media company, 4INFO has secured a whopping $5 million line of credit from Avidbank Corporate Finance, a division of Avidbank. Providing the necessary working capital, the fund is expected to help the company support its growth in the mobile advertising industry.
San Mateo- based 4INFO has pioneered the industry's first mobile search engine, consumer SMS alerts, and enterprise SMS publishing for some of the largest digital media companies, including Yahoo!, AOL (News - Alert) and IAC. Launched in 2004, the company maintained a long tradition of technological innovation in mobile media. Currently, the company focuses on mobile advertising. Based on its innovative mobile advertising platform, AdHaven, 4INFO now provides SMS content and information services throughout North America.
4INFO CEO Tim Jenkins said that the partnership with Avidbank will enable the company to efficiently address its explosive growth.
“We are very excited to be the Company's financial partner as 4INFO continues its growth in the mobile advertising industry. We have a great relationship with their team and look forward to a long and successful partnership,” SVP of Avidbank Corporate Finance Jeffrey Javier, noted in a statement.
Avidbank offers financial services for the commercial and industrial, corporate finance, technology and asset-based lending, real estate construction, commercial real estate lending and real estate bridge financing markets.
“4INFO is led by a strong management team and has the support of a reputable group of investors. This is the kind of opportunity that Avidbank's Corporate Finance Division looks for,” Avidbank Corporate Finance EVP and Division Manager Scott Chamberlin commented in a statement.
Edited by Brooke Neuman