FinovateSpring 2012 / Kabbage
Presenter Profile:
How they describe themselves: Kabbage provides working capital to online merchants as they list products for sale, leveraging information generally available on online marketplaces to assess risk and help determine advance amounts and related fees and interest. This approach allows Kabbage to understand our borrowers better and, as a result, provide them with cash as and when they need it.
How they describe their product/innovation: Kabbage introduces the K-Leaf that enables SMB’s to quickly append data to their Kabbage account from any site on the web by clicking the Kabbage leaf logo. When the business clicks on the leaf logo, all data on that page and beyond is automatically appended to the SMB’s Kabbage account. By doing so, the SMB can gain access to additional capital and other benefits.
Contacts:
Bus. Dev.: Sam Wheeler, VP Business Development, swheeler@kabbage.com
Press: Lauren Simon, Marketing, lsimon@kabbage.com
Website: www.kabbage.com
Blog: blog.kabbage.com
HQ Location: Atlanta, GA
Company Founded: February 2009
Product Being Demoed: Kabbage
Product Launched: May 2012
Metrics: Kabbage has raised just under $26MM from accredited investors, in addition to a recent $12M in debt financing. Kabbage has almost $8MM in A/R and currently has 47 employees.
- Key Executives
Robert Frohwein (CEO), Kathryn Petralia (COO), Marc Gorlin (Chairman), Kevin Phillips (CIO), KK Srinivasan (CAO), Victoria Treyger (CMO), Sam Wheeler (VP Business Development)
Key Stats
- Key Board Members
Robert Frohwein (CEO, Kabbage), Marc Gorlin (Chairman, Kabbage), Jonathan Ebinger (Partner, Blue Run Ventures), Bruce Miller (Managing Director, Stephens Inc.), Bryan Stolle (General Partner, Mohr Davidow Ventures)
- Key Investors
BlueRun Ventures, Mohr Davidow Ventures, David Bonderman (TPG), Warren Stephens (Stephens, Inc.), United Parcel Service SEF
- Key Partnerships
PayPal/X.Commerce, UPS, Intuit
- Key Customers
Our key customers are online merchants. Kabbage recognizes that online sellers have a more difficult time obtaining funding from traditional sources and has built a financing solution to meet their needs.