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Square 1 Bank Announces Credit Facility to Contactually

WASHINGTON, June 07, 2016 (GLOBE NEWSWIRE) -- Square 1 Bank, a division of Pacific Western Bank, today announced that it has provided a $3 million credit facility to new client Contactually, a user-focused relationship management platform. Proceeds from the facility will be used to support overall company growth.

Based in Washington, DC, Contactually is a SaaS platform that helps thousands of businesses build and nurture personal and authentic relationships that will drive revenue growth. The cloud-based tool streamlines the CRM process by connecting a user’s email, phone, social media accounts, calendars and other business tools in one central location from which communications can be sent, received, automated and tracked. Contactually also performs routine tasks such as scheduling follow-up reminders and sending standard communications.

“We’re thankful for the company’s success to date, and believe we’re just at the start of achieving a massive vision. I’m happy to have Kay Parry and Elizabeth Orsinger from Square 1 on as partners,” says Zvi Band, chief executive officer of Contactually.

Kay Parry, senior vice president in Square 1’s Mid-Atlantic technology practice, added, “The success of Contactually’s simple, user-friendly product offering is evident by the company’s ability to drive demand and track recurring revenue growth. They’ve made impressive strides over the last 12 months alone–from raising capital to bolstering the overall team. We’re excited to assist in the company’s expansion and represent such a great DC-based tech company.”

About Contactually
Contactually builds long-lasting relationships that grow your business. Discover the right person, and develop authentic personalized communication that keeps your business top-of-mind. In just minutes a day, engage your high value contacts to generate more repeat and referral business. Contactually is a venture-backed SaaS company based in Washington, DC. Founded in 2011, it currently employees 70 people, and has raised funding from numerous investors, including Grotech Venture Partners, Rally Ventures, Bull City Ventures, Middleland Capital and 500 Startups. For more information, visit www.contactually.com.

About Square 1 Bank
Square 1 Bank is a division of Pacific Western Bank, a Los Angeles-based commercial bank with over $21 billion in assets. A full service financial services partner to entrepreneurs and their investors, 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: Atlanta, Austin, the Bay Area, Boston, Chicago, Denver, Durham, Los Angeles, Minneapolis, New York, San Diego, Seattle and Washington, DC. Pacific Western Bank is a wholly-owned subsidiary of PacWest Bancorp (NASDAQ:PACW). For more information, visit www.square1bank.com.

Media Contact: Square 1 Bank, a division of Pacific Western Bank Dee McDougal 919.597.7479 dmcdougal@square1bank.com

Source: Square 1 Bank, ADivision of Pacific Western Bank