Silicon Valley Bank Leads $35 Million Financing for Highwinds

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Mar 17, 2010, 08:00 ET

ATLANTA, March 17 /PRNewswire/ -- Silicon Valley Bank, financial partner to technology companies of all sizes worldwide, led a $35 million debt financing for Highwinds, a content, network and hosted IP services business that offers a comprehensive suite of services including CDN, IP transit, content storage and IP software. Highwinds' platform and global network are trusted by top brands to deliver live event streaming, on-demand video and large file downloads to millions of global users every day.

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Highwinds, which is venture backed by Alta Communications, General Catalyst Partners and the European Founders Fund, will use the proceeds of this recent financing to refinance existing debt and accelerate its growth.

"With sustained growth, continued success in the market and a desire to have the flexibility to further expand our platform and network to bring valuable content to users around the world, we sought out a banking partner to help us achieve our business objectives," said Steve Miller, president and CEO of Highwinds. "Because of our favorable financial profile and Silicon Valley Bank's understanding of our business and market dynamics, they were the ideal partner in executing this all-important new financing."

"Silicon Valley Bank has been dedicated to helping entrepreneurs succeed for nearly 30 years and through our depth of knowledge about the technology and telecommunications industry, we're glad to be in a position to lead an important financing for Highwinds," said Dale Kirkland of Silicon Valley Bank in Atlanta. "Our partnership model enables us to work with our clients and bring in other banking partners as needed since we're focused on the long-term growth objectives of each company."

Silicon Valley Bank's experienced technology bankers offer a comprehensive suite of financing solutions, treasury management, corporate investment and international banking services to its clients worldwide.

About Silicon Valley Bank

Silicon Valley Bank provides commercial banking services to emerging growth and mature companies in the technology, life science, private equity and premium wine industries. Through its focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts its clients' success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 27 U.S. offices and five international operations. Silicon Valley Bank is a member of global financial services firm SVB Financial Group (Nasdaq: SIVB), along with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. More information on the company can be found at www.svb.com.

Banking services are provided by Silicon Valley Bank, a member of the FDIC and the Federal Reserve System. SVB Financial Group is also a member of the Federal Reserve System. Silicon Valley Bank Equal Housing Lender.

About Highwinds Network Group, Inc.

Highwinds is a content, network and hosted IP services business that offers a comprehensive suite of solutions including CDN, IP transit, content storage and IP software. The company delivers live event streaming, on-demand video and large file downloads over its high-performance RollingThunder® network to millions of global users every day. Highwinds' CDN customers gain unprecedented command and control over all types of content with its StrikeTracker® console and open APIs. Highwinds is headquartered in Winter Park, Fla., and maintains data centers throughout North America, South America and Europe. For more information, visit www.highwinds.com.

SOURCE Silicon Valley Bank