Daily News: April 30, 2014

Square 1 Bank Announces $4.5M Credit Facility to SpringCM

Square 1 Bank announced that it provided a $4.5 million credit facility to SpringCM, a content cloud services company. Proceeds of the credit facility will be used to provide working capital to support the company’s growth, including the expansion of its enterprise sales team and channel operations.

Backed by Foundation Capital, North Bridge Venture Partners, and Bluestem, SpringCM provides a comprehensive, business-class set of Content Cloud Services. SpringCM transforms the way people find, share, collaborate and work with content. The SpringCM platform combines the ease of use of consumer-focused offerings with robust enterprise-class capabilities designed to put content to work.

“Finding, sharing, collaborating and working with content is a challenge faced by every enterprise on the planet,” said Ryan Dammeyer, managing director of Square 1 Bank’s technology and life sciences practices in the Midwest. “We are proud to support Spring CM’s effort to provide solutions that not only provide a reliable cloud destination for this content, but also make sense of it, and get work done.”