ATEL Ventures Inc. (“ATEL”) announced that Five9, Inc. an ATEL Growth Capital portfolio company, had its initial public offering (“IPO”) on April 4, 2014. Listed under the symbol “FIVN” on the NASDAQ, Five9 raised over $350 million in the first day of trading and traded up 9.14% from the IPO price.
The ATEL Funds were a venture lender to Five9, providing an asset collateralized loan. As part of the loan agreement, ATEL received warrants to acquire Five9 stock.
“Five9’s successful IPO continues the strong momentum that ATEL has built from the beginning of the year,” said Steve Rea, Executive Vice President at ATEL. “We are committed to identifying and collaborating with companies like Five9 that have the most potential to change the marketplace, while bringing economic benefit to our investors.”
Five9, Inc., located in San Ramon, California, is a leading provider of cloud-based contact center software. The company’s software is used by sales and marketing, customer service and support, finance and collections and other organizations for both inbound and outbound call center functions such as telemarketing, telesales and support centers. Five9 is supported by a group of blue chip investors including Hummer Winblad Venture Partners, Mosaic Venture Partners and Partech International.
ATEL Capital Group is an international financial services company that for over 35 years has offered its clients a wide array of financial solutions including equipment leasing, asset-based lending, venture finance, lease administration and asset management. Since its inception, ATEL has sponsored sixteen publicly registered funds, as well as many private investment programs.
ATEL's family of funds has attracted almost 50,000 investors since ATEL's first public program was created in 1986. Additional information about ATEL Capital Group can be found on the Company's web site at www.atel.com
ATEL Capital Group formed ATEL Ventures, Inc. in 1999 to provide equipment financing and venture debt to emerging growth companies. Since its founding in 1977, San Francisco-based ATEL Capital Group has become the largest private and closely held independent leasing company in the United States, with approximately $2 billion in asset-secured transactions under management. For information about ATEL Ventures visit www.atel.com/ventures.