Bain Capital Ventures leads $225 mln round for AvidXchange

Charlotte, North Carolina-based AvidXchange, a provider of accounts payable and payment automation, has closed $225 million in funding. Bain Capital Ventures led the round with participation from Foundry Group, NYCA Partners, KeyBank, Square 1 Bank and TPG Special Situations Partners. In addition to the funding, Matt Harris, managing director of Bain Capital Ventures, Brad Feld, co-founder of Foundry Group and Techstars, and Hans Morris, managing partner at Nyca Partners, have been added to AvidXchange’s board of directors.


Optoro snags $40 mln

Optoro has raised $40 million in debt funding from TriplePoint Venture Growth BDC Corp and Square 1 Bank. Based in Washington, DC and Maryland, Optoro is a platform for returned and excess inventory.

Square 1 Bank recruits Churchill as SVP

Square 1 Bank has hired Randy Churchill as senior vice president to lead the company’s tech banking efforts in Los Angeles and Orange County. Previously, Churchill worked at Cooley LLP where he was a founding member and a senior vice president of business development at the company’s LA office.


Horizon backs InVisage

InVisage has received a venture loan facility led by Horizon Technology Finance Corp. No financial terms were disclosed. Square 1 Bank also participated in the financing. Based in Menlo Park, Calif., InVisage is a advanced materials and imaging platform firm.

Square 1 Bank increases credit facility to $6 mln for Accelerize

Accelerize New Media, a provider of marketing tech solutions, has received an increase in its credit facility from Square 1 Bank. The loan is now at $6 million from $3 million. According to the company, the financing will be used for marketing and sales of Accelerize’s newly launched product CAKE for Advertisers.


Formation Data Systems snags $24.2 mln Series A

Formation Data Systems has raised $24.2 million in Series A funding, a company spokesperson confirmed. Pelion Venture Partners led the round with participation from other investors that included Dell Ventures, Third Point, Mayfield Fund and Square 1 Bank. Headquartered in Fremont, Calif., Formation Data Systems is a data management and storage platform.

Oxford Finance, Square 1 provide $10 mln to Tarsa Therapeutics

Oxford Finance and Square 1 Bank have provided a $10 million senior credit facility to biopharmaceutical company Tarsa Therapeutics. The company plans to use the proceeds to help file a drug application with the U.S. Food and Drug Administration for medication to treat post-menopausal osteoporosis, targeted for early 2015. Tarsa also announced biopharmaceutical veteran Daniel Soland has joined the company’s board.


Cybersecurity firm EdgeWave picks up $11 mln

EdgeWave said Tuesday that it has secured $6 million in Series A funding from TVC Capital. In addition to the funding, EdgeWave has also received a $5 million credit facility from Square 1 Bank. Based in San Diego, EdgeWave is a cybersecurity firm.

VC-backed Vascular Pathways nabs $5 mln from Square 1 Bank

Square 1 Bank has provided a $5 million credit facility to Vascular Pathways. Backed by CHL Medical Partners, Ascension Health Ventures and MVM Life Sciences, Vascular Pathways is a medical device maker that specializes in wire-guided peripheral Intravenous catheter technology.

Square 1 Bank backs NutraMed

Square 1 Bank has provided a $12.5 million credit facility to NutraMed, a manufacturer of nutraceuticals and dietary supplements. Proceeds from the facility will be used in conjunction with an equity investment from Ampersand Capital Partners for acquisition financing and working capital.

Square 1 Banks Provides $3 Mln Term Loan to SteadyMed

Square 1 Bank has provided a $3 million term loan to SteadyMed Therapeutics. Ramon, Calif.-based SteadyMed is a specialty pharmaceutical company backed by KB Partners and Samson Ventures. SteadyMed plans to use the proceeds to continue development of its PatchPump technology and complete clinical trials for FDA Approval, according to a statement.

Dammeyer Joins Square 1 Bank

Ryan Dammeyer has joined Square 1 Bank as a VP for the Midwest region. He will be based in Chicago and responsible for building the bank’s portfolio of clients in the technology and life sciences sectors. Previously, Dammeyer was CFO at Liquidus Marketing.

Square 1 Bank Appoints Senior VP and MD

Square 1 Bank, a banking partner to entrepreneurs and the venture capital community, has appointed Michael Madden as senior vice president and managing director in the Boston office. Madden will be responsible for expanding Square 1 Bank’s presence in the technology market and fostering relationships with entrepreneurs and venture capital firms throughout New England.

New Hires at Square 1 Bank

Square 1 Bank has made three recent new hires in Silicon Valley. Benjermin Colombo has been hired as senior vice president, life sciences. Philip Korn has been appointed senior vice president, venture capital relationships/banking. And Timothy J. McDonough has been hired as vice president, venture banking.

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