RESTON, Va. – April 18, 2018 – Brightspot a technology product company that provides web content management solutions and services through its platform, Brightspot, entered into a new credit facility and term loan agreement with Silicon Valley Bank (SVB), the bank of the world’s most innovative companies and their investors. This financing provides up to $8 million of growth capital to Brightspot to accommodate projected growth and product innovation.
"Our relationship with Silicon Valley Bank will fuel our growth strategy and further support our differentiated position in the market as we continue to innovate our digital experience platform, Brightspot," said Kami Ragsdale, CFO, Brightspot. "We’re excited that SVB, an institution known for its work with innovative technology companies, has joined us as a key partner in accomplishing this vision."
“We’re pleased to support Brightspot as the company advances its portfolio of enterprise digital platform solutions, which enable companies to easily manage their digital presence,” said Alicia Fuller, Managing Director at Silicon Valley Bank. “Our goal is to provide the best financing, connections and global services to help Brightspot be successful.”
Founded in 2008, Brightspot was created to deliver enterprise digital platform solutions in a more thoughtful way. Offering a suite of publishing-based products, as well as digital consulting services, Brightspot serves many marquee brands including Walmart, Johnson & Johnson, Sotheby’s, Univision, U.S. News, Politico, and Scripps Networks Interactive.
Its digital content management platform, Brightspot, was purposefully built to put flexibility, customization, and sanity back into the lives of web producers - moving away from rigid and inflexible CMS architectures. Its large set of pre-defined components and modular foundation enables digital content teams to quickly embrace new publishing trends and tools, facilitating continuous improvement of their digital properties and customer experiences.
Headquartered in Reston, VA, Brightspot maintains a strong focus on giving back to the community by supporting local and national organizations including Special Olympics, The First Tee, YMCA and Troops First Foundation.
About Silicon Valley Bank
For 35 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.