Square 1 Bank provided a $6 million revolving line of credit to new client MapAnything, a provider of geo-productivity and intelligence solutions for business.
The facility is available to support the company’s future working capital needs and complements its $33.1 million Series B equity financing which closed in January 2017.
Headquartered in Charlotte, NC, MapAnything’s geo-productivity software for Salesforce and ServiceNow drives productivity across multiple use cases including sales, service and operations.
“Building a high-growth SaaS business requires access to capital to fuel growth,” said Chris Rosbrook, chief financial officer of MapAnything. “Our partnership with Square 1 and this new credit facility will ensure we deliver the best possible shareholder returns while we continue to grow our business rapidly.”
Square 1 Bank is a division of Pacific Western Bank.