Square 1 Bank Announces Credit Facility to Accelerize New Media, Inc.
Square 1 Bank SQBK, -1.41% the premier banking partner to entrepreneurs and the venture capital community, today announced that it has provided a $3 million credit facility to Accelerize New Media, Inc. (otcqb:ACLZ), who owns and operates CAKE, an advanced SaaS-based solution that tracks and analyzes spend for online marketing campaigns. Proceeds will provide working capital to support the company’s future growth.
CAKE offers user-friendly tools for advertisers, agencies, networks and publishers to optimize the impact of digital marketing campaigns. The CAKE platform supports multiple languages and currencies so online marketers can track and better target their digital spend on a global scale. CAKE’s client-focused model provides reliable assistance through a 24-hour support and customized product features to enhance the customer’s results and overall experience.
“Our company will continue to focus on our vision to drive performance-based marketing innovation and now, with the Square 1 Bank partnership, we have access to a flexible debt facility to extend our leadership position through sales, marketing and R&D investments,” said Accelerize New Media, Inc. Chairman and CEO Brian Ross.
In discussing the new relationship with CAKE, Chris Erro, senior vice president at Square 1 Bank added, “We are always pleased to partner with a company that shares our commitment to first-class service and creative, flexible solutions.”