Bridge Bank in $14 mln loan to TaskUs

Bridge Bank said Monday it provided a $14 million loan to TaskUs. Santa Monica, California-based TaskUs provides outsourced support, including call center operations and back office support, to companies.

PRESS RELEASE

SANTA MONICA, Calif., March 22, 2016 — Bridge Bank, a division of Western Alliance Bank, today announced the closing of $14 million senior debit financing with TaskUs, a market leader in outsourced customer support of venture-backed, high-growth companies. The funds will be used to further expand the company’s customer care and logistical support systems as TaskUs continues to work with some of the world’s most innovative and disruptive companies.
“TaskUs is clearly a leader in providing exception support to some of most dynamic entrepreneurial companies in the world,” said Mark Breneman, senior vice president at Bridge Bank’s Southern California Technology Finance Group. “We realized early on that synergies existed between our companies and are pleased to have the opportunity to work with Bryce, Jaspar, and the team,” added Breneman.
TaskUs, headquartered in Santa Monica, CA with offices in San Francisco, Australia and the Philippines, provides outsourced support, including call center operations and back office support, to rapidly growing companies. The company – which tripled its workforce to over 5,000 employees in 2015 – is the new and much improved face of outsourced customer support, where employees are respected, paid well and happy to go to work every day.
“TaskUs is focused on providing technology-powered, innovative solutions to empower our employees, and this funding will allow us to expand these efforts exponentially. As we continue to grow, we are pleased to partner with bankers that share our vision and passion for exceptional service and execution,” said Bryce Maddock, CEO at TaskUs. “Bridge Bank’s Southern Californiateam really took the time to understand our business model and delivered a customized financial solution that will help to support our rapid growth.”
About TaskUs
TaskUs provides outsourced customer care and back office support to some of the most innovative companies in the world. Many of the most notable and disruptive companies trust TaskUs with their vital business processes so that they can focus on true innovation. When high growth companies want an outsourcing partner who can help them scale while protecting their brand and culture, they choose TaskUs. Today, TaskUs employs more than 5,000 people in the Philippines and is headquartered in Santa Monica, CA. Learn more at TaskUs.com.
About Bridge Bank
Bridge Bank is a division of Western Alliance Bank, 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 from 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. With $14 billion in assets, Western Alliance Bancorporation (NYSE: WAL) is one of the fastest-growing bank holding companies in the U.S. and recognized as #10 on the Forbes 2016 “Best Banks in America” list. For more information, visitwww.bridgebank.com or follow us on Twitter @Bridgebank.
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