Square 1 Bank, a commercial investment institution based in Durham, has extended a $4 million credit facility to a California-based digital publishing software business.
GTxcel, headquartered in Berkeley, Calif., offers publishers content aggregation and delivery products such as mobile applications. Recently, the company inked a partnership with Xerox (NYSE: XRX) that makes its delivery products available to publishers of all sizes.
Ron Kundich, founder and senior vice president at Square 1, says that deal is part of the excitement.
“Their recently announced partnership with Xerox will be a game-changer in the industry, and we look forward to supporting the company’s growth over the coming years,” he says in a statement.
Square 1, which recently filed for a $57.5 million public offering, is a commercial bank that aims to fund venture capitalists and entrepreneurs.