MOBI Secures Debt Facility from Silicon Valley Bank

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Partnership with top international financial institution will fuel MOBI’s strategic growth in global mobile marketplace

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As the company prepares for its next phase of growth, our goal is to empower the MOBI team to move its business forward quickly with a combination of the right financing, connections and insights.

MOBI, the leading provider of managed mobility software and services to enterprises, announced the funding of a new debt facility from Silicon Valley Bank (SVB). MOBI is partnering with SVB to power its expansion and accelerate its strategic growth in the global enterprise mobility marketplace.

Renowned as a top international financial institution for enabling innovative companies to capitalize on bold ideas, SVB has partnered with MOBI to equip the company with added resources for executing on its mission to improve the way today’s organizations manage mobility programs.

“The rise of smartphones and BYOD programs in the corporate world has created new complexities and challenges for businesses of all sizes. MOBI’s cloud-based platform is helping to solve this prevalent problem by providing businesses with the tools and services they need to better manage their mobility programs,” said Dennis Grunt, Director, Silicon Valley Bank. “As the company prepares for its next phase of growth, our goal is to empower the MOBI team to move its business forward quickly with a combination of the right financing, connections and insights.”

The new funding from SVB will enable MOBI to further help its customers achieve unprecedented control and visibility when it comes to the way they manage mobile devices, significantly reducing costs and increasing efficiencies.

“The flexible debt structure that SVB designed for MOBI will help strengthen our financial position and enable us to fund some of the major projects that are already underway as our company continues to experience rapid growth in the managed mobility services market,” said Andrew Davis, CFO, MOBI. “SVB is a world-class financial institution that truly understands the capital requirements of growing technology-based companies. The MOBI team is delighted to have partnered with them on this deal.”

About MOBI

MOBI provides software and services to help companies manage mobility. MOBI’s cloud-based software centralizes the management of mobile devices by integrating with wireless carriers, MDMs, corporate IT systems, and more. MOBI’s services help organizations plan for, save on, deploy, support, and decommission all mobile devices. As a result, MOBI’s customers achieve enhanced control, greater visibility, reduced costs, and increased efficiencies when managing mobile devices. Learn more about MOBI’s software platform and services by visiting: http://mobiwm.com/

About Silicon Valley Bank

For more than 30 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. Forbes named SVB one of America’s best banks (2015) and one of America’s best-managed companies (2014). Learn more at svb.com.

Silicon Valley Bank is the California bank subsidiary and commercial banking operation of SVB Financial Group (Nasdaq: SIVB), and a member of the FDIC. Silicon Valley Bank and SVB Financial Group are members of the Federal Reserve System.

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David Wendland