The partnership will facilitate PerformLine’s short-term and long-term goals with the assistance of Bridge Bank.
New York City – August 31, 2017 – PerformLine, the leading RegTech company delivering automated compliance solutions, today announced a new banking relationship with Bridge Bank, which specializes in small- and mid-market businesses and emerging technology companies. The new relationship will provide a $4 million debt facility. PerformLine pioneered the marketing compliance space and through 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.
The facility consists of a $2.5 million 3-year term loan and a $1.5 million 2-year revolving line of credit, providing PerformLine with a facility structure that not only meets its short-term needs, but also provides a long-term solution.
“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, CEO 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.”
“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.”
More information about PerformLine is available at: www.PerformLine.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.
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.