Bridge Bank has extended a $17 million credit facility to Culver City, California-based SteelHouse, an advertising technology company. The capital will be used for growth initiatives and working capital.
COSTA MESA, Calif., Feb. 28, 2019 /PRNewswire/ — Bridge Bank today announced it has extended a credit facility to SteelHouse, an advertising technology company and the first self-serve platform with AI technology that automates advertising to achieve the best outcome. Marketers use SteelHouse’s platform to find their ideal audiences, build creative, launch campaigns and visualize their performance. The Los Angeles based company is revolutionizing how companies approach advertising on television. The new credit facility will be used to fund working capital needs and support growth initiatives.
“We’ve chosen Bridge Bank to help fuel the next stage of our growth,” said Mark Douglas, president and chief executive officer of SteelHouse. “Through continued investment in our technology, Bridge Bank will help strengthen our position as the first self-serve platform to launch retargeting, prospecting, and branding campaigns through every channel including Connected TV.”
“SteelHouse’s superior technology is based in their well-designed self-serve platform with robust capabilities and an intuitive user interface,” said Victor Le, senior vice president of Bridge Bank’s Southern California capital finance banking group. “Our team was able to craft a specialized credit facility to support their next stage of growth and we look forward to being a part of their continued success.”
About Bridge Bank
Bridge Bank, a division of Western Alliance Bank, Member FDIC, helps business clients realize their growth ambitions. Founded in 2001 in Silicon Valley, Bridge Bank offers 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 delivers 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 powerful array 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, Western Alliance has ranked in the top 10 on the Forbes “Best Banks in America” list for four consecutive years, 2016-2019.
For more information, visit bridgebank.com.
SteelHouse provides AI-driven, self-service advertising software for brands of all sizes. The SteelHouse Advertising Suite provides marketers with everything they need to build their own ads then launch retargeting and prospecting campaigns through display, mobile, native, and social media. Our solutions give advertisers total transparency and complete control over their campaigns – all with the fastest go-live in the industry. SteelHouse has more than 700 customers including brands like Virgin America, TUMI, Staples, Beachbody, and others.