Sterling Partners and the State of Maryland’s TEDCO fund raised Series A funding for Cerebro Capital, an online platform that helps companies analyze, manage and source their corporate credit facilities. Terms of the deal were not disclosed.
Cerebro Capital (“Cerebro”), an online platform that revolutionizes how corporate credit facilities are sourced and managed, announced a Series A investment from Sterling Partners (“Sterling”), a diversified investment firm committed to building great companies and inspiring growth, and the State of Maryland’s TEDCO (“TEDCO”) fund.
Powered by 20 years of data from over 80 banks and a network of lenders with approximately $4.7 trillion in assets, Cerebro is an online platform that allows middle market borrowers and corporate lenders to analyze, manage, and source credit facilities. Founded at CEO’s Matthew Bjonerud’s kitchen table, Kevin Dieter, CTO, and Bjonerud spent nearly two years designing Cerebro to transform and revolutionize how middle market companies secure and loan capital.
Bjonerud has over 10 years of experience in corporate finance as both banker and borrower. He most recently worked in corporate finance at Laureate Education, a multibillion dollar, public corporation, where he played an active role in debt and equity transactions. Between his time working as a corporate banker and his time working at Laureate, he dealt firsthand with the frustrating process of originating and managing credit facilities.
Dieter has over 25 years of experience developing, managing, and leading technology operations and teams across industries including telecommunications and investment banking-related technologies.
Cerebro has seen explosive growth since its launch in October 2017. In a little less than six months, corporate borrowers have trusted Cerebro to source or manage over $1.0 billion in loans on the platform. Cerebro will use the capital from Sterling’s investment to focus on scaling its online marketplace, broadening the capacity for complex debt transactions, and building out its sales, marketing, and engineering teams.
“Cerebro gives middle market borrowers financial self-awareness that previously had only been available to public companies. Cerebro takes it a step further by giving their borrower users the ability to connect to the lender network that is providing the data. The value created for both borrowers and lenders made this a natural decision for Sterling to become involved,” said Doug Becker, Co-Founder of Sterling Partners.
“We’re extremely excited about our partnership with Sterling and TEDCO and what this investment means for Cerebro’s future,” said Bjonerud. “CFOs have a fiduciary responsibility to get the best terms possible, yet it’s incredibly time-consuming, difficult, and confusing to understand the market. We started this platform because there was a clear need in the marketplace to make corporate lending more efficient and transparent. With this capital, we will help companies grow their businesses, expand our own capabilities, and further revolutionize the practice of lending.”
This transaction was facilitated by Miles and Stockbridge P.C. and Perkins Coie LLP.
About Cerebro Capital:
Cerebro Capital’s mission is to revolutionize corporate borrowing by leveraging technology to make the process easier and faster. Borrowers utilize the SaaS platform to understand market trends, anonymously search lenders, determine the viability of financing their deals, and remove existing deal pain points. For more information, visit: https://www.cerebrocapital.com/.
About Sterling Partners:
Sterling Partners is a private equity firm with a distinct point of view on how to build great companies. Founded in 1983 and having invested billions of dollars, Sterling is guided by its stated purpose, INSPIRED GROWTH®, which describes Sterling’s approach to investing in differentiated businesses and growing them in inspired ways. Sterling provides valuable support to the management teams of the companies in which the firm invests through a deep and dedicated team of professionals, including a strong network of outside directors and advisors. The people at Sterling believe in ideas and ideals, in people and in partnerships that drive long-term success. Currently, Sterling manages approximately $2.6 billion assets under management. For more information, visit: www.sterlingpartners.com.
TEDCO provides resources and connections that early stage technology and life sciences companies need to thrive in Maryland. TEDCO’s mission is to discover, invest in, and help build great Maryland based technology companies. Learn more at www.tedco.md.