Square 1 Bank Announces Credit Facility to BrainStormNovember 14, 2018
Square 1 Bank, a division of Pacific Western Bank, today announced it has provided a $5 million credit facility to new client BrainStorm, creator of the QuickHelp™ software adoption platform. The company will utilize the facility to further accelerate demand for its digital transformation technology.
Based in American Fork, Utah, BrainStorm is changing the way people interact with software to help companies better communicate, collaborate and work more efficiently. Through close partnerships with their customers, BrainStorm increases user engagement within a company’s workforce and, in turn, helps cut costs, improve ROI on software investments and alleviate heavy IT workloads. The company is backed by Kickstart Seed Fund.
“The average enterprise-level company is using more than 1,400 applications at any one time. Their users are drowning in software,” said John Wade, BrainStorm principal executive. “By introducing their workforce to the BrainStorm platform, our customers are able to simplify software complexity, present a personalized learning path, and deliver significant and measurable increases in software adoption rates.”
“We are excited to work with Square 1 to continue fueling BrainStorm’s rapid growth,” Wade continued. “This relationship further enables us to develop our category-leading product and accelerate software adoption and digital transformation with companies worldwide.”
“BrainStorm understands that by empowering and motivating your employees, companies are not only investing in their ROI but also creating a thriving work culture,” added AJ Dye, vice president in Square 1’s technology banking practice. “BrainStorm has hit the mark with its innovative platform. We look forward to working with the BrainStorm team and supporting the company’s continued growth and success.”
About Square 1 Bank
Square 1 Bank is a division of Pacific Western Bank, a Los Angeles-based commercial bank with over $24 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.
BrainStorm, Inc. is a global leader in software adoption and change management. BrainStorm’s QuickHelp™ platform delivers highly personalized learning journeys to help users understand which applications to use and when to use them, resulting in higher software ROI and better user engagement. BrainStorm is one of Utah’s fastest-growing SaaS companies and enjoys close partnerships with thousands of organizations, ranging from Fortune 100 companies to medium and small businesses around the world. For more information, visit www.brainstorminc.com.
Square 1 Bank, a division of Pacific Western Bank