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Square 1 Bank Announces Credit Facility to SpringCM

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CHICAGO, April 29, 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 $4.5 million credit facility to SpringCM, the leader in Content Cloud Services. Proceeds of the credit facility will be used to provide working capital to support the company's growth, including the expansion of its enterprise sales team and channel operations.

Backed by Foundation Capital, North Bridge Venture Partners, and Bluestem, SpringCM provides a comprehensive, business-class set of Content Cloud Services. SpringCM transforms the way people find, share, collaborate and work with content. The SpringCM platform combines the ease of use of consumer-focused offerings with robust enterprise-class capabilities designed to put content to work.

"Finding, sharing, collaborating and working with content is a challenge faced by every enterprise on the planet," said Ryan Dammeyer, managing director of Square 1 Bank's technology and life sciences practices in the Midwest. "We are proud to support Spring CM's effort to provide solutions that not only provide a reliable cloud destination for this content, but also make sense of it, and get work done."

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 by providing venture debt and banking services. 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 SpringCM

SpringCM is the leader in Content Cloud Services for the enterprise. Enterprises need to do more than store and share content—they need to put content to work to accelerate business outcomes. SpringCM helps global brands and public sector agencies—Facebook, Google, NCR, Office Depot, PDI Nice-pak and the U.S. Department of Energy, among others—solve content-related problems that stand in the way of optimizing revenues, cutting costs, mitigating risk and engaging customers and employees. For more information, visit www.springcm.com.

CONTACT: Square 1 Bank Dee McDougal 919.597.7479, dmcdougal@square1bank.com

Source: Square 1 Bank