Square 1 Bank Announces $7.5MM Facility to Talari Networks
Square 1 Bank announced it provided a $7.5 million growth capital facility to San Jose-based Talari Networks. Proceeds from the facility will supplement working capital for the company.
Talari Networks is a provider of network reliability and business continuity solutions. Backed by investors at Menlo Ventures, Silver Creek Ventures and Four Rivers Group, Talari’s patented Adaptive Private Networking (APN) overlay technology enables high-bandwidth, low-cost, enterprise quality WANs for business and government customers.
“Talari is an up-and-coming player in the WAN enhancement space that has recently gained traction with a number of high-profile customers,” said Andy Weyer, vice president in Square 1 Bank’s technology group. “We are very pleased to partner with the team and help fuel growth in 2013 and beyond.”
Betsy Kais, director of Finance at Talari Networks, added, “We’re excited about our new partnership with Square 1 Bank. Andy and the Square 1 team truly understood our business and provided us with the structural flexibility and optimal availability we needed. With the new facility, we plan to grow and further expand our innovative APN technology.”
Talari Networks aggregates multiple diverse networks into a virtual WAN and continuously adapts traffic based on the availability and real-time quality of the network paths, Talari ensures applications that rely on a WAN are not affected by underlying network issues.