Square 1 Bank has provided a $4 million credit facility to Berkeley, California-based GTxcel, a digital publishing solutions business. GTxcel will use the financing for working capital to support the company’s growth.
Square 1 Bank, the premier banking partner to entrepreneurs and the venture capital community, today announced that it has provided a $4 million credit facility to GTxcel, Inc., a leader in digital publishing solutions. Proceeds of the credit facility will provide working capital to support the company’s future growth.
Headquartered in Berkeley, CA, GTxcel offers publishers a suite of content aggregation and delivery products, including digital editions, mobile applications, and responsive websites. Leveraging responsive design to serve readers across desktop and mobile devices, GTxcel is on the forefront of publishing innovation. The company also provides marketing services and monetization strategies to aid clients in their digital efforts.
“Working with Square 1 Bank is the perfect fit for GTxcel,” says Peter Stilson, CEO of GTxcel. “Square 1 understands our leadership position in the magazine publishing space and where we are going. GTxcel is expanding into new markets, having recently become a Xerox Business Innovation Partner, so publishers of all sizes can take advantage of digital and mobile delivery.”
Ron Kundich, founder and senior vice president at Square 1 Bank added, “Square 1 is excited to partner with GTxcel, an established leader in digital services and content management. Their recently announced partnership with Xerox will be a game-changer in the industry, and we look forward to supporting the company’s growth over the coming years.”
About Square 1 Bank
Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1’s expertise and focus provide flexible resources, tailored solutions and high-touch support to meet our clients’ needs. Square 1 has offices in Austin, Boston, Denver, Durham, Los Angeles, New York, San Diego, Seattle, Silicon Valley and Washington, DC. For more information, visit www.square1bank.com.
GTxcel is a leader of high quality digital, mobile and content management solutions. Our service takes content and creates a digital and dynamic interactive experience for readers that can be viewed on any desktop/laptop, tablet or web-enabled smartphone. The GTxcel technology centers around a Unified Publishing Platform (UPP) where content is created once and published everywhere. GTxcel also offers consultative services that include monetization strategies and marketing services.
A privately held company, GTxcel is headquartered in Berkeley, California with corporate offices in the Boston area. In 2012, GTxcel was named by eContent Magazine as a “Top 100 Company that Matters Most in the Digital Content Industry.” Learn more at www.GTxcel.com.