NEW YORK, May 8 /PRNewswire/ --
- Debt Financing Will Help Support Fast-Paced Company Growth and Expansion
Teliris, the leading provider of telepresence solutions, announced today it has secured US$10 million in debt financing from Silicon Valley Bank, the premier commercial bank for technology companies and a member company of SVB Financial Group (Nasdaq: SIVB). The debt financing will be used to fund expansion and working capital requirements as a result of its fast-paced global growth as it continues to capitalize on its market leadership in the telepresence industry.
In April, Teliris opened its new state-of-the-art headquarters located in the Financial District of New York City that will include its soon-to-be released fifth generation solution, as well as specialized research labs. The lab will be dedicated to the growth of the next generation of collaboration technologies.
Over the past two years, the company has experienced total growth of over 170 percent allowing for key executives hires, and quadrupling its sales and marketing teams.
Teliris' VirtuaLive(TM) Telepresence solutions provide the most natural and intimate virtual meeting environment available on the market. Its flexibility, reliability and cost effectiveness meet the demanding needs of its large, diverse customer base.
As the company with the largest installed base of paying customers, holding 44 percent of the global market share and the most immersive, natural telepresence experience available, Teliris clients benefit from reduced travel costs, improved productivity and employee work/life balance, a secure business continuity plan as well as an efficient and effective carbon reduction tool.
"This financing clearly demonstrates our tremendous rate of growth and unmatched leadership within the telepresence industry," said Marc Trachtenberg, Teliris CEO and co-founder. "Even in these challenging economic times, Teliris has driven the market to new levels of innovation and expanded into more than 26 countries. This is just the beginning for Teliris; with a global partner such as SVB we will continue to push the limits of telepresence until it becomes as commonplace as a conference room at every multinational company."
"SVB has been working with technology companies like Teliris for 25 years. We're proud to provide the company with the financial resources it needs to fuel its growth," said Michael Moretti of Silicon Valley Bank's New York office. "It's exciting to contribute to Teliris' success in solving the hurdles that have challenged traditional videoconferencing for some time. We look forward to the company's continued success."
"Teliris' global expansion and market leadership has established them as the telepresence standard," said Anne Mitchell, Fidelity Ventures partner. "Fidelity is confident that Teliris will continue its strong growth over the coming years and SVB recognized that as well."
In 2007, Fidelity Ventures and Columbia Capital made a combined US$40 million investment in Teliris.
Teliris is set to launch its fifth generation telepresence platform in June at the InfoComm trade show in Las Vegas.
Founded in 2001, Teliris implements the world's most widely deployed fully managed telepresence solutions, realistically replicating the human dynamics of an in-person meeting. Teliris has deployments in over 26 countries with the largest installed base of Global 1000 companies, including Lazard, Pearson plc, GlaxoSmithKline, QUALCOMM and Royal Bank of Scotland, XChanging and Merck among others. Headquartered in New York and London, the company delivers the most immersive and natural virtual meeting experience with end-to-end integration and an unparalleled 99%+ availability guarantee. In 2007, Teliris received a US$40 million investment from co-leads Fidelity Ventures and Columbia Capital. For further information regarding Teliris, visit the company's web site at www.teliris.com or email Teliris at firstname.lastname@example.org.
About Silicon Valley Bank
Silicon Valley Bank is the premier commercial bank for emerging, growth and mature companies in the technology, life science, private equity and premium wine industries. Silicon Valley Bank provides a comprehensive suite of financing solutions, treasury management, corporate investment and international banking services to its clients worldwide. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients' success. Founded in 1983 and headquartered in Santa Clara, CA, the company serves clients around the world through 27 U.S. offices as well as operations in China, India, Israel and the UK. Silicon Valley Bank is a member of global financial services firm SVB Financial Group, with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the company can be found at www.svb.com.
Silicon Valley Bank is the California bank subsidiary and the commercial banking operation of SVB Financial Group. Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve.
Shanley Stern Gravel of Teliris, +1-917-515-4548, Shanley.Gravel@teliris.com; Jasmine Lyons, +1-917-595-3046, JLyons@cooperkatz.com, for Teliris