October 7, 2020 | technology | No Comments
- In February, Quantum Metric CEO Mario Ciabarra was fielding calls from investors at a rapid clip and getting unsolicited term sheet offers that valued the company at $1 billion.
- The term sheets offers slowed once the coronavirus hit but his company kept booming, growing annual recurring revenue at 70%, he told Business Insider.
- By June, VCs were calling again, but the valuations were lower, even though revenue-under-contract had grown, said Ciabarra.
- So he decided not to take on a new round of funding yet. Instead, he opted for a $25 million loan from Silicon Valley Bank until he could secure a venture funding round at the terms he wants.
- Visit Business Insider’s homepage for more stories.
In February, Quantum Metric CEO Mario Ciabarra was fielding calls left-and-right from venture capitalists eager to pour funding into the company.
“We weren’t actually trying to raise any specific amount of money,” he told