New Capital Raise Supports Cerebro’s Q1 2020 Triple Digit Growth
Cerebro Capital, a digital commercial loan marketplace that revolutionizes how corporate credit facilities are sourced and managed, announced it has successfully closed its second round of venture capital. Co-led by Ulu Ventures and Grotech Ventures, it closed March 26, 2020. Sterling Partners returned as an investor, and Inner Loop Capital and Point Field Partners also participated in the round.
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@CerebroCapital makes the commercial loan process easier by sourcing corporate loans and managing loan covenant compliance for middle market borrowers. Its new capital raise will expand access to borrowers and scale its online marketplace.
Designed for middle market corporate borrowers and lenders, Cerebro addresses two key components of the commercial loan process: sourcing corporate loans and managing loan covenant compliance. The capital will be deployed to further scale Cerebro’s online loan marketplace and broaden its capacity to streamline the placement of corporate debt transactions. In the wake of COVID-19 and the creation of the Main Street Loan Program (“MSLP”) and Paycheck Protection Program (“PPP”), data-driven loan processes are needed more than ever.
Connected to over 650 bank and non-bank lenders, the platform saw the number of inquiries surge, and propelled the organization to triple-digit growth in the first quarter of 2020. As the lending landscape becomes more complex and competitive, it’s important for borrowers to run systematic processes to ensure they understand the full spectrum of capital available to them. Cerebro does just that.
“We are thrilled our platform is being recognized across the country with prominent west coast and east coast investors, in the form of this new capital raise,” said Matthew Bjonerud Founder & CEO at Cerebro Capital. “We exceeded our expectations in dollars raised and at a critical juncture in our growth path as many of our customers navigate a volatile post-COVID-19 economy. With this capital, we will continue to make it easier and faster to receive great terms on corporate loans including the new MSLP and PPP loans.”
