ATLANTA – H2O Overgroup announced today the company has obtained a $1,000,000 Recurring Revenue Line of Credit from Silicon Valley Bank. This access to additional capital will help fuel the growth of the leader in innovative billing and back-office solutions. Silicon Valley Bank, financier to 50% of the venture-backed tech and life science companies in the United States, has extended the line of credit to H2O to invest in technology and staffing to accelerate growth.
H2O Overgroup’s software is used by technology and communication service providers across the US and has been recognized for setting the standard in billing and OSS solutions. Their highly flexible, scalable and secure web-based platform helped redefine the way technology service providers view Billing and CRM solutions.
“We made the decision to partner with SVB because they understand the financials of a growth stage technology company and they offer an ecosystem of technology companies for business networking,” says Brent Maropis, CEO of H2O Overgroup. “We appreciate SVB’s confidence in our company.”
“Helping our clients grow their business is what we strive to do every day,” said Andy Kirk, Director at Silicon Valley Bank. ”We’re proud to offer our partnership to H2O Overgroup as they take on the next stage in their growth and expansion strategy.”