Bridge Bank Provides Strategic Funding to ShipHawk
Costa Mesa, Calif. - Nov. 30, 2021
Bridge Bank today announced its Technology Banking Group has provided strategic funding to ShipHawk, which provides advanced fulfillment software with expert guidance for high-volume retail, wholesale and e-commerce companies.
The funding commitment includes venture debt and a recurring revenue line of credit. ShipHawk plans to use the funding to continue development of its packing and shipping platform as well as new product innovations as demand grows for shipping services.
“Bridge Bank is well suited to working with growing technology companies like ShipHawk that are solving problems for their customers,” said Roger Klarmann, senior vice president in Bridge Bank’s Technology Banking Group. “The boom in e-commerce during the COVID-19 pandemic increased demand for ShipHawk’s products and put the company on a trajectory for rapid growth. It’s our pleasure to help them take advantage of their opportunities.”
Santa Barbara, California-based ShipHawk is an advanced packing and shipping software company that gives businesses control to eliminate manual decisions in the warehouse, reduce order fulfillment waste and reduce shipping costs without adding headcount.
Bridge Bank’s Technology Banking group provides financing solutions to companies in a variety of technology sectors at any stage in the growth cycle. From inception through IPO, the Technology Banking group is a leading financial resource to companies nationwide that are focused on bringing new technologies to market.
Bridge Bank, a division of Western Alliance Bank, Member FDIC, helps business clients realize their ambitions. Founded in 2001 in Silicon Valley, Bridge Bank offers a better way to bank for small- to mid-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 delivers a broad scope of financial solutions including capital, equipment and working capital credit facilities, 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 16 offices in major markets across the country along with Western Alliance Bank’s powerful array of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation, with more than $50 billion in assets. Western Alliance is again #1 best-performing of the 50 largest public U.S. banks in the new S&P Global Market Intelligence listing for 2020 and ranks high on the Forbes “Best Banks in America” list year after year.