San Jose, Calif. – Bridge Bank’s Technology Finance Group announced its first new relationship of 2017, providing $4 million in venture debt to BuyerQuest, an enterprise Procure-to-Pay platform that delivers an ecommerce-like shopping experience for the world’s largest companies.
This new credit facility comes at a key time for BuyerQuest as it continues to pursue growth and increase market share.“We are on a steep growth trajectory right now so gaining access to significant working capital quickly was paramount to us,” said Jack Mulloy, CEO of BuyerQuest. “The team at Bridge Bank demonstrated deep domain expertise and unmatched knowledge of our business and industry, which made them the obvious choice for us. We look forward to continuing our relationship with the team at Bridge Bank as we continue to grow.”
“The combination of a world-class user experience, unparalleled platform agility, and cognitive procurement capabilities makes BuyerQuest a formidable leader in the space,” said Kelly Cook, senior vice president in Bridge Bank’s Technology Finance Group. “We are truly excited to work with Jack and his team to provide key strategic financing to BuyerQuest.”
Bridge Bank’s Technology Finance Group works with venture- and non-venture backed companies from inception through beyond IPO. The team’s expertise spans multiple verticals including e-commerce, digital marketing, mobile, clean- and green-tech, telecommunications and infrastructure and more.
BuyerQuest is an enterprise Procure-to-Pay solution that delivers a world-class eCommerce experience to procurement organizations all around the world. Our software streamlines and enhances the corporate buying process allowing our customers to increase user adoption, drive contract compliance, and save money. BuyerQuest combines the power of cognitive computing with the discipline of enterprise procurement, offering an agile solution that empowers companies to solve their complex procurement problems. BuyerQuest customers have the spend transparency, deep insights, and advanced intelligence capabilities they need to focus more on strategic priorities and less on tactical, lower value tasks. Global organizations like McDonald’s, Kimberly-Clark, IBM, United Airlines, and many other clients use BuyerQuest to fundamentally transform their procurement experience and more efficiently manage their entire procure-to-pay process. Visit www.BuyerQuest.com to learn more.
About Bridge Bank
Bridge Bank is a division of Western Alliance Bank, Member FDIC, the go-to bank for business in its growing markets. Bridge Bank was founded in 2001 in Silicon Valley to offer a better way to bank for small-market and middle-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank offers a broad scope of financial solutions including growth capital, equipment and working capital credit facilities, sustainable energy project finance, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans, ESOP finance and a full line of international products and services. Based in San Jose, Bridge Bank has eight offices in major markets across the country along with Western Alliance Bank’s robust national platform of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation, one of the country’s top-performing banking companies. For more information, visit www.bridgebank.com.