Square 1 Bank provided a $70 million syndicated credit facility to existing client Alert Logic, a security-as-a-service solution provider for the cloud. Proceeds from the facility will be used for working capital and various internal growth initiatives.
Houston-based and with seven global offices, Alert Logic combines cloud-native software and analytics with expert services to assess, detect and block threats to applications and other enterprise workloads.
“Over the years, Alert Logic has counted on Square 1 for the working capital and financial flexibility that have allowed us to successfully grow our business in the rapidly changing technology sector,” said Gray Hall, CEO of Alert Logic. “Square 1 has the technology industry expertise, financial leadership and unwavering customer focus that we look for to head up all of our commercial banking needs.”