DURHAM, N.C., July 14, 2015 (GLOBE NEWSWIRE) -- Square 1 Bank, the premier banking partner to entrepreneurs and the venture capital community, today announced that it has provided a $1.5 million credit facility to new client MemberSuite, Inc., a leading provider of association management software-as-a-service. Proceeds will be used to provide additional working capital for continued growth.
Headquartered in Atlanta, MemberSuite drives the effectiveness and operational efficiency of association and nonprofit organizations by offering enterprise-class management software via a flexible, cloud-based platform. With a la carte software modules for every mission-critical function of an association, the software easily scales as organizations grow. In addition to its unique platform, the company also provides data migration, implementation and training services.
Andrew Ryan, chief executive officer of MemberSuite, noted, "MemberSuite is proud to partner with the Square 1 Bank team. Square 1 is a perfect fit for us with a professional and personal team and deep resources to match. They took the time to understand our Company, our potential and our investors and then tailored a financial solution that perfectly met our needs. And beyond their financing expertise, their full range of treasury services made the transition simple and easy. More than anything, Square 1's core service team makes the difference. We anticipate a long and mutually-beneficial relationship."
Peter Meath, founder and managing director of Square 1 Bank's Mid-Atlantic South region, added, "The MemberSuite team is dedicated to providing modern, comprehensive, state-of-the-art software for associations. At Square 1, we can all relate to that level of commitment to a vision. We know it has helped MemberSuite achieve great success to date, and we look forward to supporting the company for years to come."
MemberSuite is the premier software and services provider of association management solutions for associations and non-profit organizations of all sizes. MemberSuite harnesses the power of the cloud to deliver enterprise-class Association Management Software that enables modern organizations to accomplish every activity they need to serve their constituents. With dozens of modules, a fully-customizable platform and a dedicated professional services team, MemberSuite is changing the way modern associations do business.
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. Square 1 has offices coast-to-coast in Austin, the Bay Area, Boston, Chicago, Denver, Durham, Los Angeles, Minneapolis, New York, San Diego, Seattle and Washington, DC. For more information, visit www.square1bank.com.
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Source:Square 1 Financial