Daily News: March 24, 2015

Square 1 Bank Provides CircleBack Facility

Square 1 Bank provided a credit facility to new client CircleBack, a contact intelligence company that enhances the way businesses and consumers maintain relationships through a CRM data application. Proceeds from the credit facility will help to support the company’s continued growth.

CircleBack Founder and CEO Manoj Ramnani said, “Contact information is the foundation for business relationships. Our clients can’t afford to miss opportunities due to incorrect or missing contact data. As we continue to attack this problem head-on by expanding our product offerings, our partnership with Square 1 Bank will be highly beneficial. They understand our business model, and their credit facility will provide us with the capital we need when we need it.”

“As an up-and-coming venture backed company, we believe CircleBack has great potential for growth in the rapidly evolving CRM market,” said Kay Parry, senior vice president at Square 1 Bank. The company’s impressive expertise in big data and artificial intelligence provides value not only to businesses but consumers as well. We look forward to supporting the CircleBack team as the company continues to grow and develop for years to come.”

Vienna, VA-headquartered CircleBack’s patented engine, developed using artificial intelligence algorithm, processes billions of data points from millions of users every day, enabling it to determine the most accurate, up-to-date information for each contact.