A leading provider of performance marketing technology is set for further international growth and expansion following a fresh round of funding by an existing investor.
Performance Horizon Group (PHG) has sealed a deal with Silicon Valley Bank (SVB) for a further $2m, in addition to the $10m Series B funding received last September, which will see it continue its quest for growth on a global level.
CEO at Performance Horizon Group, Malcolm Cowley, said: "Silicon Valley Bank has been a supporter of ours over the past few years as we have actively looked to scale the business, and this latest financial injection is huge testimony to the strength of our long-standing relationship."
"Securing these additional funds will further enhance our ability to invest in our global sales and marketing operations in order to meet the ever-increasing demands from enterprises looking to Software as a Service (SaaS) technology solutions providers to help them drive a better return on investment from their marketing spend."
Joe Smart, vice president at Silicon Valley Bank, said: "We are delighted to continue our partnership with Performance Horizon Group as they look to undertake further growth in delivering innovative technology services to its clients across the world."
About Performance Horizon Group
Performance Horizon Group is a SaaS marketing technology solutions provider to enterprises globally including British Airways, Santander, Adidas and Sainsburys. PHG's platform and services connect companies directly to online and mobile marketing partners in over 170 countries. With offices in the UK, USA, Japan and Australia, PHG supports its clients' performance marketing strategies across core sectors including finance, travel, retail and telecommunications. PHG was recently included in the 2014 Future Fifty by Tech City which recognises high growth companies across a range of industry sectors.
For further information about Performance Horizon Group's range of services, please contact the team on 0845 686 0920 or visit the website at www.performancehorizon.com.
About Silicon Valley Bank UK
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative businesses and their investors move bold ideas forward, fast. SVB provides a range of targeted financial services and expertise through its office in the UK. With commercial and international banking services, SVB helps address the unique needs of innovators. Forbes named SVB one of America's best banks (2015) and of America's best managed companies (2014). In 2014, SVB was recognised as Service Provider of the Year for the third year in a row and the Investor Allstar Awards in London. www.svb.com/uk
Silicon Valley Bank is registered in England and Wales at 41 Lothbury, London EC2R 7HF, UK under No. FC029579. Silicon Valley Bank is authorised and regulated by the California Department of Business Oversight and the United States Federal Reserve Bank; authorised by the Prudential Regulation Authority with number 577295; and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. Silicon Valley Bank is a subsidiary of SVB Financial Group, a Delaware corporation and is an affiliate of SVB Financial Group UK Limited. SVB Financial Group UK Ltd is registered in England and Wales at 41 Lothbury, London EC2R 7HF, UK under No. 5572575 and is authorised and regulated by the Financial Conduct Authority, with reference number 446159. SVB Financial Group and its subsidiary Silicon Valley Bank are members of the Federal Reserve System and Silicon Valley Bank is a member of the FDIC.
Silicon Valley Bank
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