Atlanta, GA (PRWEB) May 18, 2012
Kabbage, Inc., the leading provider of working capital for small businesses across the U.S., announced today it is a finalist for the Red Herring Top 100 Americas award, which recognizes the top private companies in the Americas. The award focuses on identifying companies who have developed sustainable, long-term innovations and are positioned to grow at an explosive rate. Kabbage was selected for developing a revolutionary approach to providing capital to small businesses. Red Herring’s editors previously recognized such notable firms as Facebook Twitter, Google, Yahoo!, Skype, and YouTube as promising innovators.
“We are honored to be named a finalist for the Red Herring Top 100 Americas awards,” said Marc Gorlin, Kabbage Co-Founder and Chairman. “Our business model exemplifies Red Herring’s focus on innovation. Kabbage has disrupted the commercial financing model by developing a breakthrough technology that provides working capital to small businesses in less than 7 minutes. It is extremely difficult for small businesses to get access to the capital they need to grow. Kabbage developed a seamless process that provides small businesses with funding within minutes of applying online, allowing them to get the capital they need to buy more inventory, launch marketing programs, hire staff and be able to grow and to prosper.”
"This year was very rewarding," said Alex Vieux, publisher and Chairman of Red Herring. "There are so many great companies producing truly innovative and amazing products and technologies. We had a very difficult time narrowing the field and selecting the Finalists from such a group of future stars. Kabbage shows great promise therefore deserves to be on the short list.”
Before Kabbage, a small business often spent many fruitless months in search of capital. Kabbage built its business to make this process simple and fast through an Internet based application and automated funding system, which provides approval and cash within 7 minutes of application. Kabbage accomplishes this by instantly obtaining a variety of data such as UPS shipping data, ecommerce activity on Ebay, Amazon and other marketplaces, PayPal activity, and even conversations on social media sites as part of its automated platform that assesses risk and delivers immediate working capital to businesses.
The annual Red Herring Top 100 Americas began in 1996 and recognizes private companies that are evaluated based on quantitative and qualitative criteria such as strategy execution, technology innovation, and industry integration. For more information, visit http://www.redherring.com/red-herring-americas.
About Kabbage, Inc:
Kabbage, Inc., headquartered in Atlanta, Georgia, is pioneering the first financial services data, technology and marketing platform for the millions of small and medium businesses that make a living selling online. Kabbage leverages data generated through merchant activity across various marketplaces and channels to understand business performance and craft financing options that meet their needs. Kabbage is venture funded and backed by Mohr Davidow Ventures and BlueRun Ventures, with additional investors including: David Bonderman, founder of TPG Capital, Warren Stephens, CEO of Stephens Inc., the UPS Strategic Enterprise Fund, and TriplePoint Ventures. For more information, please visit http://www.kabbage.com.
About Red Herring:
Red Herring is a global media company which unites the world’s best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters and major events for technology leaders around the globe. Red Herring provides an insider’s access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy.