FREE SUBSCRIPTION Includes: The Advisor Daily eBlast + Exclusive Content + Professional Network Membership: JOIN NOW LOGIN
Skip Navigation LinksHome / News / Read News


Drips Completes Financing with Wells Fargo Capital Finance

August 11, 2021, 07:00 AM
Filed Under: Technology

Drips, the founders of Conversational Texting, announced that, concurrently with its previously announced growth investment, it established a credit facility with Wells Fargo Capital Finance’s Technology Finance group.

The Wells Fargo facility will support Drips’ intense growth as it expands its team and improves its already advanced conversational SMS messaging platform. Drips differentiates itself from its competitors by capturing intent and driving meaningful conversations designed to promote engagement.

“It’s an exciting time at Drips as we spend this year focusing on our next phase of growth. The Drips team’s hard work, talent, and dedication is what drives this company, and this credit facility from Wells Fargo Capital Finance will help enable us to grow, innovate, and expand even further,” said Aaron Christopher (A.C.) Evans, Drips CEO.

“Drips has established itself as an early champion of AI-driven SMS messaging,” said Michael Ackad, head of Wells Fargo Capital Finance’s Technology Finance group. “As a leader in software and recurring revenue-based lending, we are pleased to provide a financing solution that will allow Drips to continue to innovate and scale its platform.”

Unlike chatbots, Drips’ AI-driven platform drives engagement because its natural language processing model resembles a human-like conversation. The result is significantly increased responses, especially compared to traditional marketing channels that don’t get the same level of attention due to overwhelming competition.

“We’ve been able to accomplish an impressive feat in just a few years,” said Evans. “The biggest impact from these investments is that we will have more resources to grow Drips. We are going to scale rapidly, and we can’t wait to see what impact this growth will have on the Drips platform, which has handled more than half a billion humanized conversations to date.”

Comments From Our Members

You must be an Equipment Finance Advisor member to post comments. Login or Join Now.