Silicon Valley Bank provides £1.5m financing to Skimlinks
Company news | March 11, 2014
LONDON —12 March 2014 - Silicon Valley Bank, financial partner to technology, life science businesses and their investors worldwide, today announced that it has provided Skimlinks, a leading content monetisation platform for digital publishers, with a £1.5m growth debt facility.
Skimlinks, headquartered in London with offices in San Francisco, allows publishers to link to products on a retail site and receive a commission from any resulting sales. Its network currently generates 1.5 billion page impressions per month and aggregates more than 18,000 active merchants across over 40 affiliate networks internationally.
In addition to this debt financing, which will be used to provide additional liquidity as the business pursues its ongoing growth strategy, Skimlinks previously received equity investment from Greycroft Partners, BDMI, Sussex Place Ventures and The Accelerator Group.
Alicia Navarro, Co-founder and CEO, Skimlinks said: "As we continue to innovate for content creators around the world, Silicon Valley Bank is a great partner to help us achieve our goals. We are thrilled to be working with a partner that understands our business and gives us the means to be flexible and responsive to our market."
Erin Lockwood, Managing Director of Commercial Banking at Silicon Valley Bank's UK Branch, added: "Our sweet spot is working with innovators like Skimlinks, which is changing the monetisation process for publishers and editors in a way that is really benefitting all those involved. We are looking forward to supporting the business as it continues to grow and change how publishers monetize."
About Silicon Valley Bank
Silicon Valley Bank is the premier bank for technology, life science, cleantech, venture capital, private equity and premium wine businesses. SVB Financial Group provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 28 U.S. offices and six international operations. (Nasdaq: SIVB) www.svb.com/uk
Silicon Valley Bank is authorised and regulated by the California Department of Financial Institutions 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.
Founded in 2007, Skimlinks is the leading content monetization platform that rewards publishers for the role their content plays in creating purchase intent. Skimlinks processes 300 million clicks a month on over 140,000 sites around the web, including Condé Nast, Gawker, AOL Europe, WordPress, Hearst Digital, Haymarket Consumer Media, Telegraph Media Group, and many more. Skimlinks is a team of 65 with offices in London, San Francisco, and Tokyo. Learn more at www.skimlinks.com.
Silicon Valley Bank – UK Branch
+44 (0)20 7367 7877