PlumChoice announces bank financing
PlumChoice Inc. announced the closing of $10 million in bank financing with Silicon Valley Bank, adding to $14.7 million in equity financing that was closed during the third quarter of 2009.
Billerica-based PlumChoice is a remote technical services business.
In a press release, PlumChoice said it will use the new funds to expand its sales and marketing efforts as well as underwrite further development of its operations infrastructure.
Ted Werth, founder, president, and chief executive of PlumChoice, said in a statement: "It is a major achievement to raise debt financing in such a difficult lending environment. Our success is directly related to the strength of our business model, the technology platform we have developed to deliver it, and the caliber of the clients that use our services."
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