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, 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 startup banking, capital, equipment and working capital credit facilities, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans 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 S&P Global Market Intelligence listing for 2020 and ranks high on the Forbes “Best Banks in America” list year after year.