San Francisco, CA -- July 30, 2001 -- Silicon Valley Bank (the "Bank"), a wholly owned subsidiary of Silicon Valley Bancshares, announced it provided Aligo, Inc. with $500,000 in working capital and equipment financing.
San Francisco-based Aligo, the leading provider of mobile application servers, is a new client of the Bank.
"We're pleased to complete this financing with Silicon Valley Bank, which will enable Aligo to secure additional resources to accommodate our growth," said David Shim, chief executive officer of Aligo. "This partnership demonstrates that the Bank appreciates Aligo as a company with a strong business and the leading wireless application server technology. We look forward to a positive working relationship."
"We are pleased to be associated with an emerging technology company such as Aligo," said Chris Wagner, senior vice president in Silicon Valley Bank's San Francisco region. "They are doing an excellent job building the business. We look forward to working with them in their endeavors to build a successful enterprise."
About Aligo, Inc.
Aligo is the leading provider of mobile application servers. Its Mobile Application Server V2.0 seamlessly integrates with existing infrastructure and supports rapid development of robust write-once, deploy-anywhere mobile applications. Aligo customers are medium and large enterprises that must rapidly build and deploy secure, cost-effective mobile solutions for their workforce, customers or partners. Aligo is a privately funded company headquartered in San Francisco, with engineering operations in Phoenix.
About Silicon Valley Bank
Silicon Valley Bank serves emerging growth and middle market companies in targeted niches, focusing on technology and life sciences, while also addressing other specific industries in which it can provide a higher level of service and better manage credit through specialization and focus.
The Bank operates throughout the Silicon Valley: Santa Clara, Palo Alto and Sand Hill, the center of the venture capital community in California. Other regional offices within California include: Irvine, Los Angeles, Napa Valley, San Diego, San Francisco, Santa Barbara, and Sonoma. Office locations outside of California include: Phoenix, Arizona; Boulder, Colorado; West Palm Beach, Florida; Atlanta, Georgia; Chicago, Illinois; Boston, Massachusetts; Minneapolis, Minnesota; Durham, North Carolina; Portland, Oregon; Philadelphia, Pennsylvania; Austin, Texas; Dallas, Texas; Northern Virginia; and Seattle, Washington.
SVB Contact: Andrea McGhee, (408) 654-3078, email@example.com.