Bridge Bank Provides New $20 Million Credit Facility to AudioEye, Inc.
PHOENIX — Bridge Bank, a division of Western Alliance Bank, Member FDIC, today announced that its Innovation Banking Group has provided a new $20 million credit facility to industry-leading digital accessibility company AudioEye, Inc. (Nasdaq: AEYE).
The largest portion of the credit facility is a new $12 million term loan that replaces AudioEye’s existing term loan. The new deal also includes a $3 million revolver and a $5 million delayed draw term loan for potential “tuck-in” acquisitions.
AudioEye combines AI-powered automation, custom fixes and developer tools to enable customers to detect and fix more accessibility issues than any other provider. Its automated accessibility platform, expert human services and flexible developer tools are aligned around one goal: Making the internet accessible for the 1 in 6 people globally living with a disability, according to the World Health Organization.
“AudioEye has a unique approach to making the digital world more accessible for everyone through sophisticated AI technology combined with input from the disability community,” said Francesco Corradino, director of Bridge Bank’s Innovation Banking Group. “We’re always excited to provide additional flexibility to pursue strategic opportunities through financing solutions for innovative companies like AudioEye.”
“Over the last few quarters, our operating leverage has become clear with material improvements in our credit profile,” said Kelly Georgevich, Chief Financial Officer of AudioEye. “The new credit facility features a reduced interest rate and added flexibility for strategic opportunities. We look forward to partnering with Bridge Bank and Western Alliance Bank through our next growth phase.”
Read more details about the credit facility in AudioEye’s news release.
Bridge Bank’s Innovation Banking Group supports technology companies at all stages of their life cycles with customized banking services and credit solutions to help them navigate rapidly changing environments.
About AudioEye
AudioEye exists to ensure the digital future we build is accessible. The gold standard for digital accessibility, AudioEye’s comprehensive solution combines industry-leading AI automation technology with expert fixes informed by the disability community. This powerful combination delivers industry-leading protection, ensuring businesses of all sizes — including over 127,000 customers like Samsung, Calvin Klein and Samsonite — meet and exceed compliance standards. With 24 U.S. patents, AudioEye’s solution includes 24/7 accessibility monitoring, automated WCAG issue testing and fixes, expert testing, developer tools and legal protection, empowering organizations to confidently create accessible digital experiences for all.
Western Alliance Bank
Western Alliance Bancorporation (NYSE:WAL) is one of the country’s top-performing banking companies. Its primary subsidiary, Western Alliance Bank, Member FDIC, is a leading national bank for business that puts customers first, delivering tailored business banking solutions and consumer products backed by outstanding, personalized service and specific expertise in more than 30 industries and sectors. With $90 billion in assets and offices nationwide, Western Alliance excels at helping businesses of all sizes capitalize on their opportunities to solve today and succeed tomorrow. Western Alliance Bank includes six legacy bank brands — Alliance Association Bank, Alliance Bank of Arizona, Bank of Nevada, Bridge Bank, First Independent Bank and Torrey Pines Bank — that continue to be part of the company’s heritage. Western Alliance has ranked as a top U.S. bank by American Banker and Bank Director since 2016. In 2024, Western Alliance Bancorporation again was #1 for Best CEO, Best CFO and Best Company Board of Directors on Extel’s All-America Executive Team Midcap Banks list.