Montreal, QC -- Silanis, the leading provider of solutions
that automate the Business Approval Process, announced today that it has secured
a US$2.5M venture loan from MM Venture Partners, a privately held venture debt
fund. Over the past decade, Silanis has developed award-winning solutions that
have contributed to over 1000 organizations achieving their approval automation
"We believe Silanis is the world leader in automating the Business Approval
Process for enterprises. The company has over 1000 customers, many of which
are leaders in the government, financial, manufacturing and FDA Regulated markets,
including the US Joint Chiefs of Staff, Quicken Loans, BMW Financial Services,"
said Ron Patterson, Partner, MM Venture Partners. "With Silanis' seasoned
management team and the growing enterprise demand for streamlined business processes
Silanis is poised for rapid growth"
"This loan provides an exceptional style of financing for the company and
will enable us to further Silanis' growth by adding a professional client services
group and enhancing our customer support," said Rich Warren, Chief Executive
Officer of Silanis. "In addition, adding MM Venture Partners as an investor
brings us significant experience and credibility".
Silanis Technology is the leading provider of solutions that automate the Business
Approval Process. With over 1,000 customers across government, financial services,
manufacturing, telecommunications and FDA regulated industries, Silanis has
over a decade of experience in developing and delivering solutions that work
the way organizations do. Silanis' flagship customers include the US Joint Chiefs
of Staff, US Army Medical Command, GMAC CM, Stewart Title, and Bayer. For more
information, please visit www.silanis.com.
About MM Venture Partners
MM Venture Partners is a privately held, venture-debt fund that focuses exclusively
on private technology companies in Canada. MMVP focuses specifically on Canadian
information technology and biotechnology companies. For further information
please visit www.mmvp.com.
For more information, please contact:
David Moszkowski ,Chief Financial Officer , Tel: 514-337-5255
398 Isabey, 2nd Floor, St-Laurent, Quebec H4T 1V3
MM Venture Partners
Ron Patterson, Partner, Tel: 416-977-9718 ext.23
95 Wellington Street West, 22nd Floor, Toronto, Ontario, M5J 2N7