Press Releases
Pongo Resume Secures $2MM in Funding from Avidia Bank
NORTHBOROUGH, Mass. — Pongo Resume, a full-service career web site that provides all the tools and support job seekers need to secure a great job, has acquired $2MM in funding from Avidia Bank.
The bank currently has nine locations throughout Central Massachusetts and strives to help fund local small businesses and contribute to the growth and prosperity of the Central Mass community.
The loan was secured through sponsorship by the Small Business Administration (SBA) and funded by Avidia Bank. The closing took place on April 15, 2011.
“As a community bank, we understand the importance of supporting local businesses. One of our most important roles is to provide the funding and cash management services that help businesses like Pongo meet their goals. At Avidia Bank, we service the entire commercial banking relationship,” says Bart Murphy, the Executive Vice President and Chief Lending Officer at Avidia Bank.
Pongo sought financial support to accelerate its growth, create greater brand awareness, expand promotional channels, and increase overall marketing efforts. With this financial investment, the company will accelerate product development and increase overall depth of product offering based on “voice of the customer,” resulting in an increase in customer acquisition and long-term retention of job seekers. As part of this expansion, Pongo is prepared to develop its team in all areas of the company. Pongo currently employs 34 team members and seeks to hire eleven more within the next six months.
Rodney Capron, Jr., President & CEO of Pongo “appreciates the ongoing help and support that Avidia Bank has provided over the past seven years. Specifically the efforts that Andrew Zelman, Vice President, Commercial Relationship Officer has put forth to coordinate the SBA sponsorship and ultimately, the funding, which will play a great role in taking our business to the next level. We will continue to look to Avidia Bank for our financial services in the years to come.”
About Pongo Resume:
Pongo Resume is a full-service online resource for job seekers. The Pongo Resume web site provides all the tools and support needed to write professional resumes and cover letters, ace tough interviews, and secure a great job. Pongo users generate over 100,000 resumes per month. Privately held and headquartered in Northborough, Massachusetts, Pongo Resume currently has more than 4 million registered users and averages over a half-million unique visitors per month. In 2009 and 2010, Pongo was named to the Inc. 5000 list of America’s fastest-growing private companies. For more information, visit http://www.pongoresume.com or call 866-486-4660.
About Avidia Bank:
Avidia Bank is a $1 Billion mutual community bank, headquartered in Hudson, MA with branch offices in Hudson, Westborough, Clinton, Leominster, Marlborough, Northborough, and Shrewsbury.
You can also find out more by following Pongo Resume on Facebook and Twitter.
Contact: Jodi Coverly, Pongo Resume, 508.393.4528 ext. 3834, media_relations@pongoresume.com