Square 1 Bank, a division of Pacific Western Bank, provided a $4 million credit facility to new client ItemMaster, a provider of product content services for the U.S. CPG and CPG Retail market. Proceeds from the facility will support growth initiatives and provide working capital.
Chicago-based ItemMaster creates, enhances, manages and delivers comprehensive, certified content for major brands, online, in-store, mobile and everywhere a company or consumer may need product information. The company’s cloud-based platform allows manufacturers to verify, share and manage their product portfolio and custom branded content for distribution across all channels. ItemMaster is backed by leading venture capital firms including Edison Partners and Chicago Ventures.
“Moving to Square 1 provides us with access to additional investment funds to continue to rapidly scale our business to meet market demand,” said Michael Murray, chief executive officer and president of ItemMaster. “After conducting a review and considering a variety of banks, we determined Square 1 was the best partner to meet our needs and we look forward to our relationship growing as our business grows.”
“ItemMaster is a promising, high-growth Midwestern company that is revolutionizing product content to fuel today’s data-driven retail marketplace,” added Jeff Lampe, managing director of Square 1’s technology banking practice in the Midwest. “We are thrilled to add ItemMaster to our portfolio and look forward to supporting the company’s mission to bring brands to life through consistent, high-quality product content in-store, online and via mobile.”