$400,000,000
Join Our Newsletter
Small Business & Financing Insights
On Deck Capital in the News
On Deck Named to the Inc. 500 List of Fastest Growing Companies in America |
NYC Mayor Bloomberg Heralds The Opening of On Deck's New Headquarters |
TechCrunch: On Deck Adds $17M From Google Ventures And Peter Thiel |
Latest News
ON DECK LOCKS $17M IN EXPANDED SERIES D INVESTMENT FUNDING LED BY GOOGLE VENTURES
Peter Thiel and Industry Ventures Round out Raise; Additional Capital Will Fuel Tech Powered Main Street Lender’s Rapid Growth
“Technology is changing the way lending is done for Main Street businesses, and today’s investment by Google Ventures, Peter Thiel, and Industry Ventures shows that On Deck is on the forefront of this transformation,” stated Noah Breslow, chief executive officer, On Deck. “Our goal is to power every U.S. small business loan, making capital on demand a reality for this important sector of our economy, and we are steadily on our way to achieving that.”
On Deck’s innovative technology is addressing the void left by traditional lenders who have failed to meaningfully deploy small business financing. To date, On Deck has funded over $450M in loans to Main Street, the backbone of the U.S. economy. The company’s proprietary platform is a transformative solution to America’s small business lending challenges. On Deck leverages big data generated by digital sources such as merchant processing, online banking and social networks to make loan decisions based on a robust assessment of a business’ operations. The company’s online application model can approve a loan within minutes and fund the same day, allowing business owners to take advantage of time-sensitive growth opportunities so they can run their businesses instead of spending time seeking financing.
“On Deck has found an efficient way to connect millions of small businesses around the country with the working capital they need to grow their companies,” said Karim Faris, general partner, Google Ventures. “We invested in On Deck because we believe in the team’s game-changing vision, strong talent and disruptive technology.”
About On Deck
Launched in 2007, On Deck uses data aggregation and electronic payment technology to evaluate the financial health of small and medium sized businesses and efficiently deliver capital to a market underserved by banks. Through the On Deck platform, millions of small businesses can obtain affordable loans with a fraction of the time and effort that it takes through traditional channels. The company's proprietary credit models look deeper into the health of businesses, focusing on overall business performance, rather than the owner's personal credit history. The On Deck system also provides a critically needed mechanism for financial institutions and other business service providers to efficiently reach the Main Street small business market.
On Deck is financed by some of the nation's leading venture capital firms, including SAP Ventures, Contour Venture Partners, First Round Capital, Khosla Ventures, RRE Ventures, Village Ventures and Institutional Venture Partners. For more information, please visit: www.ondeckcapital.com. For more information, follow On Deck capital on Twitter @OnDeckCapital
Google Ventures
Google Ventures provides seed, venture and growth stage funding to the most innovative and promising entrepreneurs across a variety of stages. Founded in 2009, Google Ventures helps its entrepreneurs succeed by providing access to uniquely hands-on and dedicated resources such as its Design Studio, Marketing, Recruiting, and Engineering Teams, and Startup Lab. The Google Ventures team has extensive entrepreneurial experience, deep technical knowledge and expertise in building high growth, scalable products and companies. Among its 100+ investments are Nest, Kabam, HomeAway, ngmoco, DocuSign and WhaleShark Media. Google Ventures is headquartered in Mountain View, Calif. with offices in Cambridge, Mass., Seattle, Wash. and New York, N.Y. For more information, please visit www.googleventures.com.
Industry Ventures, L.L.C
Industry Ventures is a leading investment firm focused on the venture capital market. The firm manages a family of funds that invest in secondary direct investments, limited partnership interests and other special situations. Founded in 2000, the firm manages over $1 billion of institutional capital and is headquartered in San Francisco with an office in Washington, D.C. For more information, please visit www.industryventures.com
Thiel Family Office
Peter Thiel is a technology entrepreneur and investor. He co-founded PayPal, was the first outside investor in Facebook, and works to accelerate innovation by identifying and funding promising technology ideas and by guiding successful companies to scale and dominate their industries.
# # #
Media Contact:
Jonathan Cutler/Tracy Rubin
JCUTLER media group
323.969.9904
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
This e-mail address is being protected from spambots. You need JavaScript enabled to view it