Bridge Bank Provides QASymphony $3 Million Credit Facility to Finance Company Growth
ATLANTA, GA, August 10, 2016 --- Bridge Bank announced today that it has provided a $3 million venture term loan facility to Atlanta-based QASymphony, a leader in agile testing software. QASymphony will use the credit facility to help finance its ongoing growth strategy, including expansion into the European market.
This financing was arranged by Bridge Bank’s Atlanta-based Technology Banking team, which provides financial solutions to companies in a variety of technology sectors and at any stage in the growth cycle. From inception through IPO and beyond, Bridge Bank is a leading financial resource to companies throughout the U.S. that are focused on bringing new technologies to market.
“QASymphony has attained a market leadership position providing enterprise-grade agile software testing tools” said Alan Spurgin, region director in Bridge Bank’s MidAtlantic/Southeast territory overseeing growth in its Technology and Capital Finance business lines. “We are excited to partner with QASymphony and support its growth with this debt financing as well as our full array of banking services.”
“QASymphony has experienced rapid growth as global enterprises are transitioning to agile testing software,” said Dave Keil, CEO of QASymphony. “With the debt financing from Bridge Bank, we will be able to further strengthen our balance sheet and aggressively invest in the global expansion of our business.”
QASymphony helps companies create better software by being the only provider of truly enterprise-level agile testing tools. With QASymphony's solutions, businesses have the visibility and control needed to ensure application quality in fast-paced development environments. Companies like Adobe, Barclays, Salesforce and Office Depot trust QASymphony to improve their teams' communication, productivity and collaboration. QASymphony is headquartered in Atlanta, GA. To learn more, visit .
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. With more than $16 billion in assets, Western Alliance Bancorporation (NYSE:WAL) is one of the fastest-growing bank holding companies in the U.S. and recognized as #10 on the Forbes 2016 “Best Banks in America” list. For more information, visit www.bridgebank.com or follow us on Twitter @Bridgebank.
Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to the safe harbors created by that Act. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe,""expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may." Forward-looking statements describe future plans, strategies and expectations. Forward-looking statements are based on currently available information, expectations, assumptions, projections, and management's judgment about the Company, the banking industry and general economic conditions. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management's views as of any subsequent date. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.
Forward-looking statements involve significant risks and uncertainties and actual results may differ materially from those presented, either expressed or implied, in this press release. Factors that might cause such differences include, but are not limited to: the Company's ability to successfully execute its business plans and achieve its objectives; changes in general economic, real estate and financial market conditions, either nationally or locally in areas in which the Company conducts its operations; changes in interest rates; new litigation or changes in existing litigation; future credit loss experience; increased competitive challenges and expanding product and pricing pressures among financial institutions; legislation or regulatory changes which adversely affect the Company's operations or business; loss of key personnel; changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies; and the ability to satisfy requirements related to the Sarbanes-Oxley Act and other regulation on internal control.
The reader should refer to the more complete discussion of such risks in Bridge Capital Holdings' annual reports on Forms 10-K and quarterly reports on Forms 10-Q on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.
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