SOURCE: Kabbage

Kabbage

August 17, 2011 08:00 ET

Kabbage Issued First Patent

The First of Several Fundamental Patents Anticipated for Disruptive Online Finance Platform

ATLANTA, GA--(Marketwire - Aug 17, 2011) - Further solidifying its position as a leader in commercial finance, Kabbage, Inc. has been awarded its first patent, U.S. Patent No. 7,983,951, by the United States Patent and Trademark Office. The company is announcing this patent issuance on the heels of its most recent round of funding. [Please see "Kabbage Secures $17 Million from Mohr Davidow Ventures, BlueRun Ventures, David Bonderman, Warren Stephens and UPS Strategic Enterprise Fund" for additional information.]

"This award is only the first in a series of foundational patents to be secured by Kabbage," said Rob Frohwein, CEO of Kabbage, Inc., who is also recognized as one of the world's top intellectual property strategists by Intellectual Asset Magazine. "This patent is an important milestone for Kabbage as it and many of our pending applications will be required for the delivery of financial services to merchants selling products and services online."

The patent, "Apparatus to provide liquid funds in the online auction and marketplace environment," covers a system by which a provider of capital utilizes information regarding a merchant's sales history on an e-commerce website to make a determination about providing funds. The patent application was filed on May 6, 2009 and claims priority to a prior filing dated March 2, 2009. The full text of the patent can be found at https://www.kabbage.com/Funding/About/PR/Patent7983951.

About Kabbage, Inc.
Kabbage, Inc., headquartered in Atlanta, Georgia, is pioneering the first financial services data, technology and marketing platform just for online merchants, supporting millions of online small and medium sized businesses that make a living selling online. Kabbage leverages data generated through merchant activity across various marketplaces and channels to understand business performance and craft financing options that meet their needs. Kabbage is venture funded and backed by Mohr Davidow Ventures and BlueRun Ventures, with additional investors including: David Bonderman, founder of TPG Capital, Warren Stephens, CEO of Stephens Inc., and the UPS Strategic Enterprise Fund. For more information, please visit www.kabbage.com.

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