CustomInk Expands Financing Agreement with ORIX Ventures to Continue Growth, Fund New Opportunities
By PRN NewsWire
By PRN NewsWire
WASHINGTON, June 3, 2015 /PRNewswire/ — CustomInk, the leader in custom apparel for groups and occasions, announced the expansion of a credit facility from ORIX Ventures that will give the company enhanced financial capacity to grow, support new business ventures, and take advantage of market opportunities over coming years.
“Over the past 15 years, our passion has been to bring people together through the power of custom t-shirts,” said CustomInk CEO Marc Katz. “We see lots of opportunity to help all types of groups, teams, and companies build their sense of a community, and this financing will help us continue to grow our core business while investing in new initiatives like Booster and Pear, our fundraising and sponsorship platforms.”
“CustomInk is a pioneer in technology-enabled commerce and the management team’s execution and ability to scale rapidly solidifies CustomInk’s leadership position in the space,” said Jeff Bede, Managing Director and Co-Head of ORIX Ventures. “The opportunity for us to provide meaningful follow-on capital aligns well with the Company’s road map and further emphasizes our commitment as a long-term capital partner.”
Since its founding in 2000, CustomInk has grown to be the leader in custom apparel for groups and occasions. CustomInk employs more than 1,300 people nationwide and has opened or expanded four new facilities around the country in the past year. CustomInk was named the #1 workplace in retail in 2014 by Fortune magazine and Great Place to Work((R))’s Great Rated!(TM).
About CustomInkCustomInk is the leading online provider of custom apparel and accessories for groups and occasions. CustomInk believes that t-shirts and other custom products have the power to bring people together and strengthen their sense of community. CustomInk combines an easy online Design Lab with personal customer care to help its customers create the perfect design for any club, school, business, team, or charity. CustomInk created Booster to make it easy for groups to raise money and awareness through the sale of custom products, and Pear is a platform that helps connect grassroots groups and events with national and local brand sponsors. CustomInk is based in Fairfax, Virginia with offices in Charlottesville, Virginia; Reno, Nevada; Dallas, Texas; Boston, Massachusetts; and Chicago, Illinois.
About ORIX VenturesORIX Ventures specializes in designing highly customized financing solutions for high growth companies with investments starting around $5 million and growing to $50 million. The team has committed over $1 billion to more than 100 companies. ORIX Ventures is a business unit of ORIX USA, a Dallas-based financial services firm known for providing innovative capital solutions that clients need to propel their business to the next level. With more than 1,400 employees spanning seven primary offices across the U.S. and Brazil, ORIX USA and its family of companies hold $7 billion of assets and manage an additional $30 billion, approximately. Our parent company, ORIX Corporation, is a Tokyo-based, publicly owned international financial services company with operations in 36 countries and regions worldwide. ORIX Corporation is listed on the Tokyo (8591) and New York Stock Exchanges (IX). For more information on ORIX Ventures, visit www.orix.com.
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CONTACT: Andrew Weinstein, 202-667-4967, andrewwstn[at]gmail.com
Web site: http://www.customink.com/