Austin, Texas-based Continuum Analytics, a developer of open source analytics platform Anaconda, has secured $10 million in debt funding. The backer was Silicon Valley Bank.
AUSTIN, Texas–(BUSINESS WIRE)–Continuum Analytics, developer of Anaconda, the leading modern open source analytics platform powered by Python, today announced it has secured a $10 million working capital line of credit from Silicon Valley Bank. The $5 million operating line of credit along with an additional $5 million venture debt instrument will be used to supplement the company’s current equity capital to fund ongoing growth and to empower the next phase of data science.
“As we surveyed the Big Data analytics landscape, Continuum Analytics stood out as an innovative company,” said Dax Williams, managing director, Silicon Valley Bank Austin. “We knew that we wanted to partner with Continuum as they have a bright future and we wanted to be their banker of choice for the long haul.”
Continuum’s Anaconda platform enables organizations to quickly analyze, manage and visualize big data in order to make critical decisions. Built on Python, the fastest growing open data science language, Anaconda integrates into existing IT environments to provide unprecedented flexibility and ease in exploring and leveraging data. To date, more than two million users have adopted the Anaconda platform. Customers include more than 200 of the Fortune 500, 19 of the Fortune 25 and 8,000 universities around the world. Boeing, Procter & Gamble, Pepsi, Schlumberger, the U.S. Department of the Treasury and the Securities and Exchange Commission are among current industry leaders who rely on Anaconda. Anaconda is being used to conduct accurate risk analysis in financial services, process Hubble telescope images, transform media monetization and counter human trafficking.
“Receiving this venture debt facility is a big vote of confidence and additional evidence of the significance of Continuum Analytics as a company,” said Randy Russell, CFO at Continuum Analytics. “We are thrilled to have the leading technology bank, Silicon Valley Bank as a partner to ensure we have the capital to continue growing our business rapidly.”
To learn more about Continuum Analytics, visit www.continuum.io.
About Continuum Analytics:
Continuum Analytics develops Anaconda, the leading modern open source analytics platform powered by Python. Continuum’s Python-based platform and consulting services empower organizations to analyze, manage and visualize Big Data – turning massive datasets into actionable insights and business value. Built on proven open source technology and easily integrated within existing IT environments, Anaconda allows organizations to make critical business decisions based on their data quickly, easily, inexpensively, and with flexibility. Without having to worry about how to access their data, organizations can free up resources to solve actual problems. Continuum’s founders and developers have created or contribute to some of the most popular data science technologies, including NumPy, SciPy, Pandas, Jupyter/IPython, and many others. To learn more about the Anaconda platform, training and consulting services, visit http://www.continuum.io.
About SVB Financial Group
For more than 30 years, SVB Financial Group (NASDAQ: SIVB) and its subsidiaries have helped innovative companies and their investors move bold ideas forward, fast. SVB Financial Group serves companies in technology-related, life science & healthcare, private equity/venture capital, and premium wine industries. Along with commercial banking products and services provided by Silicon Valley Bank, the company offers investment advisory, asset management, private wealth management and brokerage services. We also offer non-banking products and services, such as funds management, private equity/venture capital investment and business valuation services, through our other subsidiaries and divisions. Headquartered in Santa Clara, Calif., SVB Financial Group operates in centers of innovation in the U.S. and around the world. Learn more at svb.com. 13 Banking services are provided by Silicon Valley Bank, Member FDIC. SVB Financial Group and Silicon Valley Bank are members of the Federal Reserve System.