ATLANTA, Aug. 10, 2016 /PRNewswire/ -- Bridge Bank announced today that it has provided a $3 million venture term loan facility to Atlanta-based QASymphony, a leader in agile testing software. QASymphony will use the credit facility to help finance its ongoing growth strategy, including expansion into the European market.
This financing was arranged by Bridge Bank's Atlanta-based Technology Banking team, which provides financial solutions to companies in a variety of technology sectors and at any stage in the growth cycle. From inception through IPO and beyond, Bridge Bank is a leading financial resource to companies throughout the U.S. that are focused on bringing new technologies to market.
"QASymphony has attained a market leadership position providing enterprise-grade agile software testing tools," said Alan Spurgin, region director in Bridge Bank's MidAtlantic/Southeast territory overseeing growth in its Technology and Capital Finance business lines. "We are excited to partner with QASymphony and support its growth with this debt financing as well as our full array of banking services."
"QASymphony has experienced rapid growth as global enterprises are transitioning to agile testing software," said Dave Keil, CEO of QASymphony. "With the debt financing from Bridge Bank, we will be able to further strengthen our balance sheet and aggressively invest in the global expansion of our business."
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. With more than $16 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, visit www.bridgebank.com or follow us on Twitter @Bridgebank.
QASymphony helps companies create better software by being the only provider of truly enterprise-level agile testing tools. With QASymphony's solutions, businesses have the visibility and control needed to ensure application quality in fast-paced development environments. Companies like Adobe, Barclays, Salesforce and Office Depot trust QASymphony to improve their teams' communication, productivity and collaboration. QASymphony is headquartered in Atlanta, GA. To learn more, visit www.qasymphony.com.
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SOURCE Bridge Bank