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Telepresence Leader Teliris Receives US$10 Million in Debt Financing from Silicon Valley Bank
NEW YORK, May 8 /PRNewswire/ --
- Debt Financing Will Help Support Fast-Paced Company Growth and
Expansion
Teliris, the leading provider of telepresence solutions, announced today
it has secured US$10 million in debt financing from Silicon Valley Bank, the
premier commercial bank for technology companies and a member company of SVB
Financial Group (Nasdaq: SIVB). The debt financing will be used to fund
expansion and working capital requirements as a result of its fast-paced
global growth as it continues to capitalize on its market leadership in the
telepresence industry.
In April, Teliris opened its new state-of-the-art headquarters located in
the Financial District of New York City that will include its soon-to-be
released fifth generation solution, as well as specialized research labs. The
lab will be dedicated to the growth of the next generation of collaboration
technologies.
Over the past two years, the company has experienced total growth of over
170 percent allowing for key executives hires, and quadrupling its sales and
marketing teams.
Teliris' VirtuaLive(TM) Telepresence solutions provide the most natural
and intimate virtual meeting environment available on the market. Its
flexibility, reliability and cost effectiveness meet the demanding needs of
its large, diverse customer base.
As the company with the largest installed base of paying customers,
holding 44 percent of the global market share and the most immersive, natural
telepresence experience available, Teliris clients benefit from reduced
travel costs, improved productivity and employee work/life balance, a secure
business continuity plan as well as an efficient and effective carbon
reduction tool.
"This financing clearly demonstrates our tremendous rate of growth and
unmatched leadership within the telepresence industry," said Marc
Trachtenberg, Teliris CEO and co-founder. "Even in these challenging economic
times, Teliris has driven the market to new levels of innovation and expanded
into more than 26 countries. This is just the beginning for Teliris; with a
global partner such as SVB we will continue to push the limits of
telepresence until it becomes as commonplace as a conference room at every
multinational company."
"SVB has been working with technology companies like Teliris for 25
years. We're proud to provide the company with the financial resources it
needs to fuel its growth," said Michael Moretti of Silicon Valley Bank's New
York office. "It's exciting to contribute to Teliris' success in solving the
hurdles that have challenged traditional videoconferencing for some time. We
look forward to the company's continued success."
"Teliris' global expansion and market leadership has established them as
the telepresence standard," said Anne Mitchell, Fidelity Ventures partner.
"Fidelity is confident that Teliris will continue its strong growth over the
coming years and SVB recognized that as well."
In 2007, Fidelity Ventures and Columbia Capital made a combined US$40
million investment in Teliris.
Teliris is set to launch its fifth generation telepresence platform in
June at the InfoComm trade show in Las Vegas.
About Teliris:
Founded in 2001, Teliris implements the world's most widely deployed
fully managed telepresence solutions, realistically replicating the human
dynamics of an in-person meeting. Teliris has deployments in over 26
countries with the largest installed base of Global 1000 companies, including
Lazard, Pearson plc, GlaxoSmithKline, QUALCOMM and Royal Bank of Scotland,
XChanging and Merck among others. Headquartered in New York and London, the
company delivers the most immersive and natural virtual meeting experience
with end-to-end integration and an unparalleled 99%+ availability guarantee.
In 2007, Teliris received a US$40 million investment from co-leads Fidelity
Ventures and Columbia Capital. For further information regarding Teliris,
visit the company's web site at www.teliris.com or email Teliris at
info@teliris.com.
About Silicon Valley Bank
Silicon Valley Bank is the premier commercial bank for emerging, growth
and mature companies in the technology, life science, private equity and
premium wine industries. Silicon Valley Bank provides a comprehensive suite
of financing solutions, treasury management, corporate investment and
international banking services to its clients worldwide. Through its focus on
specialized markets and extensive knowledge of the people and business issues
driving them, Silicon Valley Bank provides a level of service and partnership
that measurably impacts its clients' success. Founded in 1983 and
headquartered in Santa Clara, CA, the company serves clients around the world
through 27 U.S. offices as well as operations in China, India, Israel and the
UK. Silicon Valley Bank is a member of global financial services firm SVB
Financial Group, with SVB Analytics, SVB Capital, SVB Global and SVB Private
Client Services. More information on the company can be found at 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.
Contact:
Shanley Stern Gravel Jasmine Lyons
+1-917-515-4548 +1-917-595-3046
Shanley.Gravel@teliris.com JLyons@cooperkatz.com
Web site: http://www.teliris.com
http://www.svb.com
Teliris
Shanley Stern Gravel of Teliris, +1-917-515-4548, Shanley.Gravel@teliris.com; Jasmine Lyons, +1-917-595-3046, JLyons@cooperkatz.com, for Teliris
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