(PRWEB) May 31, 2012
Star2Star Communications, makers of “The World’s Most Reliable Internet Communications Solution,” today announced that the company has secured a significant line of credit from Silicon Valley Bank.
Star2Star has been self-sustaining and cash flow positive since 2009; a mere three years after the company shipped its first product. During 2011, Star2Star achieved 100% network uptime and was named to both the Inc. 500 and Forbes Most Promising Companies lists.
Gary Arnold, Chief Financial Officer said, “The funding available to Star2Star under the new Silicon Valley Bank credit facility represents a 2,000% increase over our previous bank line and serves as a strong vote of confidence in our company and our recurring revenue model. The credit facility will provide Star2Star with additional flexibility as we expand into new distribution channels, offer credit to dealers, and continue our rapid growth.”
Founded in 2006, Star2Star Communications develops and delivers business-focused Internet communication systems and service. Star2Star delivers innovative features and increased productivity while providing substantial cost savings. Star2Star’s award-winning technology employs a powerful Blended Architecture™ that overcomes the limitations of other Internet technologies.
Star2Star products are sold through a diversified international network of distributors, master agents, and certified installing dealers. Available across North America, Star2Star Internet communication systems are installed in thousands of small and medium-sized businesses and in many large national retail and restaurant chains. For more information on Star2Star, visit http://www.star2star.com.
About Silicon Valley Bank
Silicon Valley Bank is the premier bank for technology, life science, cleantech, venture capital, private equity and premium wine businesses. SVB provides industry knowledge and connections, financing, treasury management, corporate investment and international banking services to its clients worldwide through 27 U.S. offices and seven international operations. (Nasdaq: SIVB) http://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 System. SVB Financial Group is also a member of the Federal Reserve System.