As ShipBob Rapidly Scales, Silicon Valley Bank Provides Support
SVB partnered with ShipBob to provide comprehensive treasury and capital support, which has allowed the company to efficiently drive the business’s continued and accelerated revenue ramp.
Challenge
On the heels of the company’s successful Series B capital raise, management sought out a cost effective and less dilutive pool of capital to help supplement the round and further extend both its runway and optionality.
Outcome
In addition to providing financing, SVB was able to provide ShipBob with a strategic payments vehicle, which helped drive both cost savings and operating efficiencies for the business.
As ShipBob continued to rapidly scale, SVB helped expand its financing support of the business by providing the right structure and flexibility. This has allowed the company to maximize the underlying enterprise value of the business while minimizing dilution for founders and investors.