SMALL BUSINESS INVESTMENT COMPANIES HAVE INVESTED MORE THAN $225 MILLION IN WASHINGTON OVER THE LAST 5 YEARS.
Small Business Investment Company Impact in Washington
- SBICs have invested in 54 small businesses in Washington since 2018.
- SBICs have invested $225.3 million in Washington small businesses since 2018, with $54.1 million invested in FY 2022 alone.
- Washington businesses that received financing from SBICs in 2022 supported 888 employees
A sampling of the Washington-based companies that have received SBIC financing:
Cascade Drilling, L.P. (Woodinville)
Cascade Drilling was founded in 1991 as a highly-regarded Northwestern U.S. regional drilling company operating across three states. Cascade developed a strong reputation for safety, service, and reliability with an emphasis on traditional drilling technologies: auger, rotary, and direct push. In 2013, the company made a significant investment in sonic drilling technology and expanded its geographic reach across the United States.
- SBIC Investment: $13,500,000
Spoken Communications (Seattle)
ACQUIRED BY AVAYA
Spoken Communications unleashes the power of conversations to help businesses transform the customer experience. In use by hundreds of major brands, SpokenConversation Center, Contact Center as a Service provides a set of AI enabled conversational services from a globally available cloud-first platform that contact centers use to analyze, learn from, and respond to customer conversations. Spoken is an innovator in conversational technologies with more than 170 patents. Founded in 2005 Spoken is headquartered in Seattle, Washington, and is one of the fastest growing technology companies in the Pacific Northwest.
- SBIC Investment: $3,499,433