Bridge Bank Provides $4 Million Debt Facility To Leading Regtech Provider PerformLine
San Jose, Calif. – Bridge Bank today announced it has provided a $4 million debt facility to a leading RegTech provider, PerformLine through a new banking relationship. The facility consists of a $2.5 million 3-year term loan and a $1.5 million 2-year revolving line of credit.
PerformLine revolutionized the marketing compliance space and continues to be a leader in the RegTech industry," said Blake Reid, senior vice president in Bridge Bank's Mid-Atlantic technology banking group. "We strongly believe PerformLine offers the best innovative products and we are excited to work with them as they enter this new stage of growth for their business.
"We are excited about our new relationship with Bridge Bank. Their experience in the technology sector, as well as their understanding of our business, made them the perfect fit for PerformLine and they will play a critical role in the next phase of growth for the business," said Alex Baydin, chief executive officer at PerformLine. "With the RegTech industry continuing to evolve, this credit facility comes at an exciting time for PerformLine and will allow us to continue to expand our sales and marketing efforts as the demand for our compliance monitoring platform continues to explode.
About Bridge Bank
Bridge Bank is a division of Western Alliance Bank, Member FDIC, the go-to-bank for business in its growing markets. Bridge Bank was founded in 2001 in Silicon Valley to offer a better way to bank for small-market and middle-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank offers a broad scope of financial solutions including growth capital, equipment and working capital credit facilities, sustainable energy project finance, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans, ESOP finance and a full line of international products and services. Based in San Jose, Bridge Bank has eight offices in major markets across the country along with Western Alliance Bank's robust national platform of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation. One of the country's top-performing banking companies, Western Alliance ranks #4 on the Forbes 2017 "Best Banks in America" list. For more information, visit bridgebank.com.
PerformLine is the leading RegTech company delivering automated compliance solutions for enterprises looking to mitigate regulatory risk and ensure brand safety. Its cloud-based platform empowers compliance functions with the intelligence, insights, and tools needed to mitigate risk across all consumer interactions channels including web, voice, chat, and mobile. PerformLine provides its clients with significant time and costs savings by automating compliance activities across channels and departments. For more information, visit www.PerformLine.com or follow PerformLine on Twitter and LinkedIn.