RHYTHMONE PLC SECURES MULTI-MILLION DOLLAR LINE OF CREDIT WITH SILICON VALLEY BANK
London, England and San Francisco, CA. – 9 November 2017 – RhythmOne plc (LSE AIM: RTHM, “Company”), a global advertising technology company, today announces that it has closed a senior revolving credit facility with Silicon Valley Bank (“SVB”) that will provide RhythmOne with up to $25 million of capital at close. The funds are designed to provide cash resources to support future strategic initiatives and general corporate purposes.
RhythmOne provides streamlined, transparent connections between advertisers and audiences through a combination of differentiated supply, innovative technology and data-driven insights. Founded in 2004 in the UK, the Company pioneered Internet video search and works with digital advertisers, publishers and content providers to offer fully integrated, cross-screen solutions that span desktop and mobile video, rich media, display, social and native advertising. Through its fully integrated programmatic platform, RhythmMax, the Company represents digital advertising inventory across owned, controlled and extended supply sources. The RhythmMax platform includes unique brand safety technology, RhythmGuard, which combines leading third-party verification and proprietary filtering technologies to ensure inventory quality in brand safe environments. RhythmOne’s end-to-end platform provides more direct, efficient and effective connections, driving ROI for advertisers and publishers. The Company is headquartered in San Francisco, United States with offices in the US, UK, Europe, APAC and Canada. For more information, please visit www.rhythmone.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. Learn more at svb.com.
For further information, please contact:
Analyst and Investor Contact
Financial Media Contacts
Edward Bridges / Dwight Burden
FTI Consulting LLP
(UK) 020 3727 1000
Nomad and Broker for RhythmOne
Nick Westlake (Nomad) / Lorna Tilbian / Toby Adcock
Numis Securities Limited
(UK) 020 7260 1000