Atlanta, GA (PRWEB) May 24, 2012
Kabbage, Inc., the leading provider of working capital for small businesses, announced today it is a winner of the Red Herring Americas Top 100 Private Companies award, a distinguished honor that recognizes the most innovative and fastest growing companies that are driving disruptive change in their industries. There were a total of 800 companies who competed for the award, 236 finalists, and 100 winners. Winners were selected from the 236 finalists and evaluated on several factors including; quality of management, strategy execution, industry disruption, technology innovation, and financial performance.
“Our selection as a Red Herring Top 100 Americas award winner recognizes the powerful innovation that Kabbage is delivering to small businesses everywhere,” said Marc Gorlin, Kabbage Co-Founder and Chairman. “Small businesses often experience significant difficulties in trying to secure funding through a cumbersome and time intensive process that takes months. Kabbage has turned that process on its head by revolutionizing credit decision making through its online platform to provide small businesses with the funds they need to grow and prosper within minutes of completing their application.”
Kabbage’s internet-based funding platform enables small businesses to receive approval and cash within 7 minutes of completing a simple online application. Rather than relying on credit score, Kabbage evaluates dozens of data sources such as shipping volumes, eCommerce and PayPal activity, social media sentiments, and other sources in its risk assessment algorithm.
"We congratulate Kabbage on winning a Top 100 Americas award which recognizes those companies who have vast potential for growth and leadership," said Alex Vieux, publisher and Chairman of Red Herring. “Kabbage is making great strides to fundamentally transform small-business financing and they are setting themselves up for long-term success in this marketplace.”
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. Previously recognized firms include such groundbreaking names as Facebook, Twitter, Google, Yahoo!, Skype, and YouTube as promising innovators.
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.