MAVA Member Silicon Valley Bank Inks $9 Million deal with Underground Elephant
Underground Elephant, an online performance-based marketing company that drives high-efficiency sales growth for vertically-oriented customer acquisition programs, announced today that it has secured $9 million in credit facilities from Silicon Valley Bank.
This funding from SVB will broaden the reach of Underground Elephant’s comprehensive marketing software platform and accelerate customer adoption of the company’s various B2B and B2C products, spanning existing and emerging digital channels.
“This line of credit, from a respected financial institution like SVB, allows us to accelerate our go-to-market strategy for UE’s SaaS offerings,” said Jason Kulpa, CEO of Underground Elephant. “Amidst rapid growth in demand for our marketing products and services, this credit facility provides additional resources to expand our customer base and access to talent.”
“We’re excited to continue our partnership with Underground Elephant in support of their rapid growth and expansion,” said Eric Otterson, Managing Director at Silicon Valley Bank, who leads the San Diego-based technology team. “The San Diego tech ecosystem is at an inflection point and we thrive in helping these amazing entrepreneurs bring their visionary ideas to life.”