CARLSBAD, Calif., May 28, 2015 /PRNewswire/ -- Source Intelligence® (SI), the "LinkedIn of Supply Chain," today announced the funding of a new credit facility with Silicon Valley Bank. The new capital will be used to fuel Source Intelligence's accelerating growth of supply chain compliance solutions and expansion of its global network of businesses on the cloud-based SaaS platform.
"The explosive number of global brands subscribing to SI's platform is triggering significant expansion in the solutions we offer," said Jess Kraus, CEO at Source Intelligence. "The relationship with Silicon Valley Bank and their expansive network is perfectly aligned with our forward-thinking growth plans."
Source Intelligence attributes their growth to their reliability in breaking through obstacles in authenticating the web of supply chain information to meet regulations set forth by government agencies such as the SEC, DOJ and EPA. Global companies turn to Source Intelligence's flexible software solution, robust network of suppliers and proprietary validation techniques to help them meet ever-expanding sustainability, corporate social responsibility and environmental standards.
"Source Intelligence and its experienced leadership team have established an information and compliance platform that is proving to be highly valuable," said Eric Otterson, Managing Director at Silicon Valley Bank. "We look forward to supporting SI's continued growth."
About Source Intelligence® (www.sourceintelligence.com):
Source Intelligence® (SI) is a global network of businesses linked together to expedite the exchange and validation of compliance information. SI's cloud-based SaaS platform helps customers make informed decisions about business partners to offer products that meet legal, ethical, and environmental standards. The company's information and analytics platform provides customers with visibility into supply chains in order to comply with the law, minimize operational and brand risk, and improve efficiency. Founded in 2009 by career experts in environmental solutions and analytics, Source Intelligence® has headquarters in Carlsbad, California and operations worldwide.
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). A California bank subsidiary of SVB Financial Group (Nasdaq: SIVB), SVB is a member of the FDIC the Federal Reserve System.
SOURCE Source Intelligence