Bridge Bank Provides Strategic Funding to ShipHawk
Costa Mesa, Calif.
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, 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. Bridge Bank is part of Western Alliance Bancorporation, which has more than $65 billion in assets and ranked #1 among top-performing large banks in 2021 by both American Banker and Bank Director. As a regional bank with significant national capabilities, Bridge Bank delivers the reach, resources and local market expertise that make a difference for customers.