Bridge Bank announced that its Technology Banking Group closed a $3.5 million venture debt term loan with Gooten, a leading technology and fulfillment company based in New York. Gooten will use the funds for continued growth and expansion.
“We believe in supporting ventures that contribute to the overall economic landscape, and Gooten embodies that spirit,” said Roger Klarmann, senior vice president in Bridge Bank’s Technology Banking Group. “We’re pleased to support this investment in Gooten’s promising future.”
Gooten provides order management systems to power on-demand production to more than 10,000 businesses. Its technology gives its clients the flexibility to grow and manage a global network of production partners and distribute orders among them based on dynamic, configurable rules customized to their business. Brands can rely on Gooten’s fulfillment network of more than 250 product types and 90 manufacturing facilities globally as they test and add new on-demand listings to their stores.
“The company’s strategic vision and track record of consistent growth reflect sound business acumen and a commitment to innovation and resilience.”
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“Gooten’s ability to help its clients scale is impressive,” said Laurence Brent, vice president in Bridge Bank’s Technology Banking Group. “The company’s strategic vision and track record of consistent growth reflect sound business acumen and a commitment to innovation and resilience.”
Gooten’s platform enables companies to quickly reach their goals by reducing the uncertainty of experimentation when they are adding new products and vendors. It also allows supply chain teams to scale in managing larger global production footprints without increasing headcount.
“With this funding, we are not just acquiring capital; we are investing in our potential, innovation and the realization of our strategic goals,” said Greg Madormo, executive vice president of finance and operations at Gooten. “This loan is the catalyst for turning aspirations into achievements, and we are eager to make every dollar count in building a future where our impact is felt.”
Bridge Bank’s Technology Banking Group supports technology companies at all stages of their life cycles with customized banking services and credit solutions to help them navigate the rapidly changing environment.
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