Date Funded: 3/13/12
Facility Amount: $1,000,000
The Company: This large-scale web service company employs patented technology to understand social media conversations by the millions. Essentially, their software allows companies to gauge customer feedback. Major brands, CRM companies and advertising agencies use the information to manage brands, identify customer support needs and develop sales leads.
The Issue: This company just finalized all of their 14 patents and intends to grow quickly over the next year. Because this is an early stage company with a limited operating history, they could not yet obtain traditional bank financing. Therefore, the company needed to secure financing from an alternative provider in order to support this anticipated growth.
The Solution: This client was referred to Joel Flig at Allied by an investment banker who recognized this company’s need for a working capital partner who could not only facilitate their growth needs but could also close quickly. Because Allied is known in the market for their fast turnaround time, the investment banker contacted Joel. Allied funded this client within 5 days of first issuing a proposal.
The Win: This “Funding by Allied” will enable the company to fulfill a short-term initial need to catch up on the past due payments with their vendor as well as support the rapid growth of the business.