Increased size and terms commensurate with company growth
6sense, the leading platform to revolutionize the way B2B organizations create, manage and convert pipeline to revenue, today announced it has secured new debt financing totaling $100 million comprising a senior secured revolving credit facility from Silicon Valley Bank (SVB), a division of First Citizens Bank.
Today’s news comes on the heels of the company’s FY2023 impressive results including overall revenue growth of 70% over its 2022 fiscal year, and new customer acquisition and net revenue retention rates that demonstrate the transformative value realized by its customers using 6sense Revenue AI™. Additionally FY2023 was a year of product innovation announcements including 6senseⓇ Revenue AI for Sales, Conversational Email (now with AI Writer) and Pipeline Intelligence.
“Our relentless focus on execution of our bold vision, operational excellence and proactive cash management enable us to outperform and position 6sense to remain resilient and deliver differentiated value to our customers," said Rob Goldenberg, Chief Financial Officer, 6sense. “The global financial market direction is still fluid, in turn financial institutions are applying scrutiny never seen before. Having met the rigor that is necessary to secure the terms we received, we look forward to working again with SVB on this recent refinancing to fuel future innovation and expansion.”
"SVB is excited to support 6sense as it continues to grow its market presence and remain a leader in delivering RevTech solutions," said Marc Cadieux, President of Silicon Valley Bank’s commercial banking business. “SVB Technology Corporate Banking remains committed to serving leading later stage private and public technology companies, like 6sense, as they continue to succeed and scale in today’s market. Our Bay Area based team has worked with 6sense for years and we look forward to continuing our relationship.”
The new SVB financing provides favorable terms, reflects a more mature capital structure and further supports 6sense’s multi-pronged, AI-forward organic and acquisitive growth strategy. 6sense and SVB replaced a prior outstanding term loan with this new debt agreement.
About Silicon Valley Bank
Silicon Valley Bank (SVB), a division of First Citizens Bank, is the bank of the world’s most innovative companies and investors. SVB provides commercial and private banking to individuals and companies in the technology, life science and healthcare, private equity, venture capital and premium wine industries. SVB operates in centers of innovation throughout the United States, serving the unique needs of its dynamic clients with deep sector expertise, insights and connections. SVB’s parent company, First Citizens BancShares, Inc. (NASDAQ: FCNCA), is a top 20 U.S. financial institution with more than $200 billion in assets. First Citizens Bank, Member FDIC. Learn more at svb.com.
SVB's Technology Corporate Banking Division works with the most innovative public and late-stage private companies in the U.S. Tech Sector, providing a full suite of lending and banking solutions, as well as guidance as an active and trusted partner helping clients succeed and quickly scale.
About 6sense
6sense is on a mission to revolutionize the way B2B organizations create revenue by predicting customers most likely to buy and recommending the best course of action to engage anonymous buying teams. 6sense Revenue AI™ is the only sales and marketing platform to unlock the ability to create, manage and convert high-quality pipeline to revenue. Customers report 2X increases in average contract value, 4X increases in win rate and a 20-40% reduction in time to close deals. Know everything. Do anythingⓇ, with 6sense.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230622487569/en/
Contacts
Gina Rau
Global Head of PR and Communications, 6sense
Gina.Rau@6sense.com
