Mountain View, CA – October 19, 2010 – MMV Financial (MMV), today announced that it has provided $2.5 million in debt financing to NetBase Solutions, Inc. NetBase provides unsurpassed insight discovery and social media understanding tools that have changed the way companies uncover the consumer insights that drives product, packaging and promotion strategies. Brand managers and market researchers at many Fortune 1,000 companies, five of the top 10 consumer packaged goods companies and two of the top three STM publishers are using NetBase’s online search-based research tools. The new capital provided by MMV will help NetBase advance its mission of turning the entire internet into a manageable database of answers.
“NetBase has done a remarkable job providing clients with smarter, faster and cheaper search-based research tools that lead to highly relevant answers and informed decisions,” said Bob Curley, SVP and Managing Director, MMV Financial. “Their veteran management team has pioneered remarkable technology that provides clients access to vast consumer insights and MMV is delighted to lend support during what has proved to be a very exciting time.”
“We are pleased to bring on this capital for our fast-growing business and to have the support and financial backing of MMV Financial along with our existing investors,” said Jonathan Spier, NetBase CEO and co-founder. “NetBase is experiencing strong demand for our social media understanding and analytics technology. This capital will accelerate our tactical and strategic growth, allowing us to focus on customer satisfaction and product extension by investing in our workforce and ecosystem. MMV Financial has an outstanding reputation and we were pleased with the terms and speed of transaction MMV was able to provide.”
About MMV Financial:
MMV Financial is a specialty finance company that provides creative debt solutions directly to technology and life sciences companies across North America. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners, Caisse de dépôt et placement du Québec, Fonds de Solidarité des Travailleurs du Québec, HSBC Bank Canada, ROI Capital and Wells Fargo Company. For more information, please visit www.mmvf.com.
About NetBase Solutions:
NetBase provides tools for understanding consumer opinions, emotions, and behaviors as expressed in social media and the Web. Their state-of-the-art natural language processing (NLP) engine reads billions of conversations from more than 75 million social media sources. It automatically organizes up to one year of brand-related chatter to determine not only sentiment but also deep, actionable insights. NetBase NLP is nearly 90 percent accurate, so customers have the trusted information they need to make better business decisions. NetBasewas founded by Jonathan Spier and Michael Osofsky and is headquartered in Mountain View, California. For more information, please visitwww.netbase.com.
Contact Information:
For MMV Financial
Robert A. Curley, Jr.
Senior Vice President & Managing Director
650.241.0320
For NetBase Solutions, Inc.
Cindy Morel
NetBase
Amy Jackson
Eastwick Communications
650.480.4032