BOSTON — March 10, 2020 — Silicon Valley Bank (SVB Financial Group, NASDAQ: SIVB), the bank of the world’s most innovative companies and their investors, today announced the opening of its new office in downtown Boston. SVB has played a key role in supporting the technology, life science and investor community in New England since 1991 when it opened an office in the Route 128 technology corridor in Newton.
“We have partnered with SVB for 10 years now and have always valued the relationship and benefitted from their advice and support,” said Corey Thomas, CEO of Rapid7. “They are an integral part of the fabric of Boston and I am excited to see them expand in downtown.”
“SVB has had the privilege to help build and support innovation and entrepreneurship in the Boston area for three decades,” said Mark Gallagher, Managing Director at Silicon Valley Bank. “Our new downtown office is a signal of our momentum, the growth in this market and it positions us well for continued growth. We look forward to welcoming the local innovation community to our expanded space.”
Located at 53 State Street on the 28th floor in the historic Boston Stock Exchange building, the new office provides space for more than 100 employees and is centrally located near many of the startups and fast-growing companies that SVB supports. The office includes functional space for client and industry events and three murals by local Dominican artist Silvia López Chavez. The murals represent the history of Boston’s most iconic innovations.
Between both the Boston and Newton offices, SVB has more than 250 employees in technology and healthcare banking, global fund banking, credit administration and private banking. The Boston area team works with leading technology and healthcare companies and their investors including Battery Ventures, Carbonite, Editas Medicine, Rapid7 and T3 Advisors. The team also works with local community organizations including Best Buddies, BUILD, the Kelly Brush Foundation, the Leukemia and Lymphoma Society, TUGG, Year Up and many others.
Silicon Valley Bank serves innovative companies and their investors around the world in the technology, life science, venture capital, private equity and premium wine industries. SVB banks half of all venture-backed companies in the U.S. and is one of the fastest-growing companies in the world according to Fortune. By providing innovative banking products with an entrepreneurial spirit and supporting community causes that align with its values and mission, SVB fosters innovation all over the globe.
About Silicon Valley Bank
For more than 35 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.
©2020 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, MAKE NEXT HAPPEN NOW and the chevron device are trademarks of SVB Financial Group, used under license. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group (Nasdaq: SIVB).
Media Contact:
Eileen Nolan
Silicon Valley Bank
650-248-3265
enolan@svb.com