ORIX Ventures, a leading venture and growth finance company that provides debt and equity capital to high-growth companies, announced today the closing of a term loan for Urban Airship. Based in Portland, Oregon, Urban Airship is a leading technology provider for enterprise mobile marketers to deliver rich customer engagement through mobile apps and mobile wallets, in addition to powering targeted actions across other marketing channels with user-centric mobile insights.
Urban Airship is committed to helping leading brands engage their mobile users and build high-value relationships from the moment their app or mobile wallet item is downloaded. The company currently has 1,400 customers, and its technology is present in more than 2 billion app installs.
“Given the massive market opportunity in the mobile industry, it is vital to have investment partners that see tremendous value in our vision and are highly supportive of our growth initiatives,” said Urban Airship CEO and President Brett Caine. “The ORIX Ventures team moved very quickly to close a flexible facility to materially increase our investment capacity.”
The funding from ORIX Ventures provides growth capital for Urban Airship to expand its product offerings and sales and marketing capabilities.
“Urban Airship is a great fit for ORIX given its market leadership position, blue chip customer base and strong management team,” said Jeff Bede, Managing Director and Co-Head of ORIX Ventures. “We immediately saw the value proposition and were able to move quickly to provide additional capital for the business.”