Square 1 Bank, premier banking partner to entrepreneurs announced that it has provided $1 million credit facility to a digital marketing company Position2
Online PR News – 24-August-2014 – Menlo Park, CA – Square 1 Bank, the premier banking partner to entrepreneurs and the venture capital community, today announced that it has provided a $1 million credit facility to new client Position2, a full-service, digital marketing firm that delivers continuous growth for its customers through high performance search, social media, and content marketing. Proceeds of the credit facility will provide working capital to support the company’s future growth.
Position2’s single point-of-access service provides clients with a streamlined and integrated solution for all online marketing needs including creative, search, web development, marketing automation, media, and web analytics. Launched in 2005, Position2 has quickly established itself as a leader in the online marketing market. Backed by Accel Partners, the company has an impressive client base focused on Fortune 500 companies and VC-backed companies in B2B technology, financial services, consumer products, and Internet industries.
“As a fast-growing digital marketing firm with over 60 global clients, Position² needed a financial partner that understood our unique needs,” said Rajiv Parikh, CEO of Position². “Square 1 offered a super flexible credit facility that enables us to profitably scale our marketing service and technology offerings and invest in our infrastructure. The bank’s network of like-minded technology brands offers us the ability to expand our partner ecosystem. We are excited to partner with Square 1 for the long term.”
Andy Weyer, senior vice president at Square 1 Bank, added, “After meeting Rajiv and recognizing his impressive business acumen and background, we were eager to work with Position2. During the diligence process, it became apparent that the company had a capital-efficient business on a strong growth trajectory. From there, it wasn’t difficult to connect the dots on a bright future ahead. We look forward to supporting the Position2 team as the company continues to grow.”