Square 1 Bank Announces Credit Facility to Dizzion, Inc.March 28, 2017
Square 1 Bank, a division of Pacific Western Bank, today announced that it has provided a $4.25 million credit facility to new client Dizzion, Inc., a desktop-as-a-service company. Proceeds from the facility will support general growth activities including workforce development, sales and marketing, and product advancements.
Based in Denver, Dizzion utilizes cloud computing to allow users to securely access documents and applications from anywhere on any device. The company goes beyond the virtual desktop infrastructure by combining secure endpoints, storage, application delivery and enterprise security capabilities to create a comprehensive end user computing platform. The company is backed by leading investors including Grotech Ventures and Access Venture Partners.
“The market opportunity in front of Dizzion is extensive and continues to grow as more enterprises look for better ways to maximize workforce productivity, secure corporate data, and achieve compliance,” said Steve Prather, chief executive officer at Dizzion. “Our team is proud to partner with Square 1 and we look forward to accelerating our growth with their support.”
“We worked with the Dizzion team to understand their business, challenges and growth opportunities to create a tailored solution that was beneficial for both parties,” added Jody Shepherd, managing director of Square 1’s Rocky Mountain banking practice. “We are excited to add this impressive, Denver-based client to our portfolio and look forward to supporting their commitment to the evolving global workforce.”
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.
About Dizzion, Inc.
Dizzion brings the power of cloud computing to the desktop by enabling employees to securely access their applications and data from any device, anytime, anywhere. Dizzion’s proprietary managed desktop service is built on enterprise technology that includes infrastructure, software licensing, management, support and security for a monthly fee. Dizzion is a privately held company based in Denver, Colorado. For more information, visit www.dizzion.com.
Square 1 Bank, a division of Pacific Western Bank