Square 1 Provides PowerReviews Facility
Square 1 Bank announced it provided a $7.5 million credit facility to PowerReviews. Proceeds of the credit facility will provide working capital to support the company’s growth.
“Reviews are an essential part of the marketing mix, and they are increasingly having an impact on all channels: online, mobile, social and in-store,” said Matt Moog, CEO of PowerReviews. “With support from partners like Square 1, PowerReviews is in an excellent position to help brands and retailers navigate this complex consumer engagement environment.”
Ryan Dammeyer, managing director of Square 1 Bank’s Midwest region, added, “Consumer reviews have become an important part of the consumer journey in purchasing anything from toys to apparel to office supplies online or in-store. PowerReviews’ technology makes this step meaningful for not only the consumer but the retailer and ultimately the brand or manufacturer. Square 1 Bank is proud to work with Matt and the whole PowerReviews team and looks forward to supporting the company’s continued growth.”
Working with more than 1,000 brands and retailers, the PowerReviews Consumer Engagement Engine allows brands and retailers to collect customer reviews and feedback, promote and syndicate that content to major retailer sites and search engines, and gather analytics and insights to improve products and services. PowerReviews was also recently recognized as a top service provider to the Internet Retailer 500.