Bridge Bank Extends $15,000,000 Growth Capital Term Loan to Examity
May 04, 2021
Bridge Bank today announced its Boston-based Technology Banking Group has extended a $15,000,000 growth capital term loan to Examity, a technology company concentrating in the online proctoring market. Examity has partnerships with hundreds of enterprise-testing organizations, corporations and universities.
Examity provides test-takers with 24/7 support through their industry-leading solution that provides a variety of proctoring styles, from automated to live, to meet the needs of individual schools and testing providers. Each year, they handle millions of assessments from notable colleges and certification providers across North America and around the world.
“With the continued expansion of virtual education as well as professional testing and certification, Examity is experiencing rapid growth,” said Darren Gastrock, director in Bridge Bank’s Technology Banking Group. “The financial solution we are providing will allow them to continue on a path of high growth, while maintaining their top market position within the online proctoring space.”
“The past year has driven unprecedented demand for remote proctoring solutions that will continue even after the pandemic subsides,” said Nick Malone, chief financial officer at Examity. “The team at Bridge Bank created a financial solution that fits our needs as a high-growth technology company, and will position Examity to continue to meet the growing demand for online proctoring solutions with a secure, streamlined experience for test-takers, both during and after the COVID-19 pandemic.”
The Technology Banking Group at Bridge Bank provides flexible financial solutions to emerging, and mid-to late-stage companies across the U.S. in the technology and innovation sector and works with non-venture and venture- backed companies from inception through IPO and beyond. Bridge Bank’s Boston office serves the innovation ecosystem throughout New England and provides a broad array of financial solutions through its Technology Banking Group, Life Sciences Group and Equity Fund Resources Group.
Bridge Bank, a division of Western Alliance Bank, Member FDIC, delivers relationship banking that puts clients at the center of everything. Founded in 2001 in Silicon Valley, Bridge Bank offers a full spectrum of tailored business banking solutions throughout the Bay Area and has specialized expertise, focused on life sciences and technology and innovation companies, at every stage in their life cycle, through its offices in major tech hubs across the country. Bridge Bank also serves the private equity and venture capital communities and provides business escrow services. As part of $65 billion Western Alliance Bancorporation — ranked #1 top-performing large bank with assets greater than $50 billion in 2021 by both American Banker and Bank Director — Bridge Bank has the reach, resources and deep industry knowledge that make a difference for customers.