Benchmark Email, a leading software as a service provider of sales and marketing solutions for SMBs, today announces that it has secured a $3,000,000 credit facility from Texas Capital Bank. The credit facility is also designed to scale as the revenue of the company scales, giving Benchmark additional growth capital into 2021 and beyond.
Jonathan Herrick, CEO of Benchmark Email, indicates that this new access to funding will drive acquisitions, fueling rapid growth and innovation.
“We are excited to be partnering with Texas Capital Bank and with access to more capital we can accelerate our acquisition strategy. In the year ahead we plan on aggressively acquiring companies that fit our mission of helping businesses ignite relationships with their customers,” Herrick said.
2020 brought about many changes for SMB’s including a shift to perform more business online than ever before. SaaS solutions such as email marketing software gives businesses tools to build their subscribers online and send email newsletters. “When paired with other sales and marketing channels, such as contact management, live chat and social media, email marketing can amplify the signal in the inbox and continue high-value conversations with prospects and customers,” Herrick said. “In 2021 we will be investing in ways to improve sales and marketing for our customers whether it’s through adding additional Martech tools or innovative solutions such as AI and machine learning.”
“We are excited to be working with the Benchmark team as they continue to grow and pursue opportunities within the Martech space,” said Doug Mangum, Executive Vice President, Head of Technology Banking for Texas Capital Bank. “We believe in the track record of the leadership team and look forward to providing the capital Benchmark needs to execute on their business strategies.”