SAN FRANCISCO, Nov. 10, 2015 (GLOBE NEWSWIRE) -- Square 1 Bank, a division of Pacific Western Bank, today announced that it has provided a $7.5 million credit facility to new client Datera, Inc., an innovative company currently operating in stealth-mode. Proceeds from the facility will be used to fuel the company's continued growth.
Datera and its team of highly talented engineers and architects address the customer challenges associated with the move to agile cloud environments—such as OpenStack, Docker, Mesos and Google Kubernetes. Investors and advisors currently supporting Datera's vision include Khosla Ventures, Andreas Bechtolsheim (founder and chief development officer at Arista Networks), Pradeep Sindhu (founder and chief technology officer at Juniper Networks), Hortonworks, Cisco, VMware, NetApp and Google.
"We have combined the hottest software engineering talent in the industry, a strong reputation and track record with the open source community, and support from some of Silicon Valley's most highly regarded visionaries to bring about a seismic shift in cloud deployments," said Marc Fleischmann, chief executive officer at Datera. "With the partnership and resources from Square 1, a financial partner who best understands the needs of a growing technology company, we are in an excellent position to take our business to the next level."
"We believe Datera's technology is transforming the cloud infrastructure market. It's a highly disruptive, bold vision, but we think they have the right people around the table to succeed," added Andy Weyer, senior vice president in Square 1's technology banking practice. "This sentiment was echoed in our due diligence process, where we gained confidence in Datera's highly technical, intelligent and experienced team. We're excited to be part of the journey they're embarking on."
About Square 1 Bank
Square 1 Bank, a division of Pacific Western Bank, is a full-service financial services partner to entrepreneurs and their investors. Founded in 2005 by a group of seasoned venture bankers, Square 1 provides clients flexible resources and attentive service to help their companies grow. Square 1 offers a broad range of venture debt, treasury and cash management solutions through offices in top innovation centers: 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.
Datera is currently operating in stealth mode. To learn more about the company, its partners and customers, please follow us at www.twitter.com/dateraio.
CONTACT: Media Contact: Square 1 Bank, a division of Pacific Western Bank Dee McDougal 919.597.7479 firstname.lastname@example.org
Source: Square 1 Bank, A Division ofPacific Western Bank