Square 1 Ups Accelerize Credit Facility to $6 Million
Accelerize New Media and Square 1 Bank announced an increase in Accelerize’s credit facility from $3 million to $6 million to drive additional global adoption of its technology solutions into new and existing digital advertising markets.
The facility will be used primarily to build market awareness and increase sales for Accelerize’s newly launched product, CAKE for Advertisers, a software solution developed by CAKE, its digital software division.
Accelerize also intends to use the credit facility to roll out the recently enhanced version of its affiliate marketing software solution, CAKE for Networks. The product release provides new industry-leading capabilities for the company’s base of over 450 customers. The organization also plans to develop additional SaaS-based software products based on the CAKE platform to broaden its market opportunities.
Chris Erro, SVP at Square 1 Bank, added, “We are pleased to provide Accelerize with the additional working capital the company needs to execute on its strategy to move upstream with its growing enterprise product portfolio. We are always pleased to partner with a company that shares our commitment to creating innovative, market-leading solutions, and we look forward to continuing our support as the company migrates into these vast market opportunities.”
“Over the past several years we have established our high-growth company as a top provider of performance-based marketing software,” said Brian Ross, CEO of Accelerize. “While we take great pride in this accomplishment, Accelerize now has the opportunity to extend our proven, recurring-revenue model to the ad tech industry with the introduction of CAKE for Advertisers. Plus, the additional capital from our trusted financial services partner, Square 1 Bank, makes us well positioned to embark on Accelerize’s next chapter of expansion and deliver world-class solutions for brand advertisers and affiliate marketers.
Accelerize New Media offers marketing technology solutions that revolutionize the way advertisers leverage their digital advertising data.