July 1, 2014
ATEL Ventures Inc. (“ATEL”) is proud to announce that Silverpop, an ATEL Growth Capital portfolio company, was recently acquired by IBM.
Silverpop was provided an equipment financing credit line by ATEL, in which the terms of the loan agreement stipulated that Silverpop’s loan provide warrants permitting ATEL to acquire its stock.
“A leader within the digital marketing solution space, Silverpop embodies the type of business models and growth prospects we look for in every ATEL portfolio company,” said Steve Rea, Executive Vice President at ATEL. “The company’s acquisition by IBM further fuels the strong activity that we are experiencing this year within our Fund.”
Silverpop, an IBM company, is a software company whose products are focused on helping Marketers transform the “customer experience”, increasing engagement, and driving revenue. Silverpop makes this possible by using customer data and each individual's behaviors to inform and drive every interaction in real time. In addition to ATEL Ventures, the company is backed by a group of investors including Draper Fisher Jurvetson, NeoCarta Ventures, Labrador Ventures, Total Technology Ventures, DFJ-ePlanet and Gray Ventures.