Increased size and terms commensurate with company growth
SAN FRANCISCO, June 22, 2023 – 6sense, the leading platform to revolutionize the way B2B organizations create, manage and convert pipeline to revenue, today announced it has secured new debt financing totaling $100 million comprising a senior secured revolving credit facility from Silicon Valley Bank (SVB), a division of First Citizens Bank.
Today’s news comes on the heels of the company’s FY2023 impressive results including overall revenue growth of 70% over its 2022 fiscal year, and new customer acquisition and net revenue retention rates that demonstrate the transformative value realized by its customers using 6sense Revenue AI™. Additionally FY2023 was a year of product innovation announcements including 6sense® Revenue AI for Sales, Conversational Email (now with AI Writer) and Pipeline Intelligence.
“Our relentless focus on execution of our bold vision, operational excellence and proactive cash management enable us to outperform and position 6sense to remain resilient and deliver differentiated value to our customers,” said Rob Goldenberg, Chief Financial Officer, 6sense. “The global financial market direction is still fluid, in turn financial institutions are applying scrutiny never seen before. Having met the rigor that is necessary to secure the terms we received, we look forward to working again with SVB on this recent refinancing to fuel future innovation and expansion.”
“SVB is excited to support 6sense as it continues to grow its market presence and remain a leader in delivering RevTech solutions,” said Marc Cadieux, President of Silicon Valley Bank’s commercial banking business. “SVB Technology Corporate Banking remains committed to serving leading later stage private and public technology companies, like 6sense, as they continue to succeed and scale in today’s market. Our Bay Area based team has worked with 6sense for years and we look forward to continuing our relationship.”
The new SVB financing provides favorable terms, reflects a more mature capital structure and further supports 6sense’s multi-pronged, AI-forward organic and acquisitive growth strategy. 6sense and SVB replaced a prior outstanding term loan with this new debt agreement.
