SANTA MONICA, Calif., April 15, 2014 (GLOBE NEWSWIRE) -- Square 1 Bank (Nasdaq:SQBK), the premier banking partner to entrepreneurs and the venture capital community, today announced that it has provided a $3 million credit facility to Accelerize New Media, Inc. (OTCQB:ACLZ), who owns and operates CAKE, an advanced SaaS-based solution that tracks and analyzes spend for online marketing campaigns. Proceeds will provide working capital to support the company's future growth.
CAKE offers user-friendly tools for advertisers, agencies, networks and publishers to optimize the impact of digital marketing campaigns. The CAKE platform supports multiple languages and currencies so online marketers can track and better target their digital spend on a global scale. CAKE's client-focused model provides reliable assistance through a 24-hour support and customized product features to enhance the customer's results and overall experience.
"Our company will continue to focus on our vision to drive performance-based marketing innovation and now, with the Square 1 Bank partnership, we have access to a flexible debt facility to extend our leadership position through sales, marketing and R&D investments," said Accelerize New Media, Inc. Chairman and CEO Brian Ross.
In discussing the new relationship with CAKE, Chris Erro, senior vice president at Square 1 Bank added, "We are always pleased to partner with a company that shares our commitment to first-class service and creative, flexible solutions."
About Square 1 Bank
Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1's expertise, focus and strong capital base provide flexible resources and unmatched support to meet our clients' needs. The bank offers tailored products and solutions aided by the latest in technological innovations. Square 1 has offices coast to coast in Austin, Boston, Denver, Durham, Los Angeles, New York, San Diego, Seattle, Silicon Valley and Washington, DC. For more information, visit www.square1bank.com.
About Accelerize New Media, Inc.
Accelerize New Media, Inc. (OTCQB:ACLZ) owns and operates CAKE, a marketing technology company providing a comprehensive enterprise suite of innovative marketing intelligence tools for the performance marketing industry. The CAKE SaaS proprietary marketing platforms are used by the world's leading companies and the world's largest customer-base of enterprise affiliate marketing networks and merchants. CAKE's solutions are based on reliable, feature rich technology and are bolstered by the industry's leading customer service and top-tier technology partners -- assuring the highest level of uptime. The company has also now launched cupCAKE, a campaign management solution for small and medium sized affiliate marketers.
Use of Forward-looking Statements
This press release may contain forward-looking statements from Accelerize New Media, Inc. within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. For example, when Accelerize New Media makes statements about proceeds providing working capital to support Accelerize New Media's future growth and Accelerize New Media's vision to drive performance-based marketing innovation and extend its leadership position through sales, marketing and R&D investments, Accelerize New Media is using forward-looking statements. These forward-looking statements are based on the current expectations of the management of Accelerize New Media only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; Accelerize New Media's technology may not be validated as it progresses further; Accelerize New Media may be unable to retain or attract key employees whose knowledge is essential to the development of products and services; unforeseen market and technological difficulties may develop with products and services; inability to timely develop and introduce new technologies, products and applications; loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of Accelerize New Media to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Accelerize New Media undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting Accelerize New Media, reference is made to Accelerize New Media's reports filed from time to time with the Securities and Exchange Commission.
Source: Square 1 Bank