DENVER, Aug. 14, 2018 (GLOBE NEWSWIRE) — Square 1 Bank, a division of Pacific Western Bank, today announced that it has provided a $2 million credit facility to new client DirectScale, a cloud-based software platform that supports direct and social selling companies and their salesforce. Proceeds from the facility will support continued growth initiatives.
Based in Lindon, Utah, DirectScale’s platform provides direct and social selling businesses ecommerce tools to drive sales, communication solutions to keep teams connected and reporting capabilities to track KPIs and sales commissions. The user-friendly technology offers users the ability to extend functionality through third party customizations and integrations. Other features include social media management, training modules and resource libraries, and prospecting tools. DirectScale is backed by several leading investors including Grotech Ventures, Kickstart Seed Fund and Origin Ventures.
“We’re working to transform the way companies do business in the industry and offer them the type of solution that simply hasn’t been available in the past,” said Rodger Smith, CEO of DirectScale. “We are thrilled to have Square 1 as a financial services partner that shares our vision to succeed in our mission and are looking forward to many great things to come as a result.”
“We are excited to support DirectScale and its mission to provide a fully customizable, intuitive solution for the rapidly growing direct and social selling space,” added AJ Dye, vice president of Square 1’s technology banking practice. “DirectScale joins a growing list of companies Square 1 works with in Utah, a market that is booming with innovation and activity. We look forward to working with DirectScale’s impressive team and investors and continuing to expand our footprint in the area.”
About Square 1 Bank
Square 1 Bank is a division of Pacific Western Bank, a Los Angeles-based commercial bank with over $24 billion in assets. A full service financial services partner to entrepreneurs and their investors, Square 1 provides clients flexible resources and attentive service to help their companies grow. Square 1 offers a broad range of venture debt, treasury and cash management solutions through offices in top innovation centers: Atlanta, Austin, the Bay Area, Boston, Chicago, Denver, Durham, Los Angeles, Minneapolis, New York, San Diego, Seattle, and Washington, DC. Pacific Western Bank is a wholly-owned subsidiary of PacWest Bancorp (NASDAQ:PACW). For more information, visit www.square1bank.com.
About DirectScale
Based in Lindon, Utah, DirectScale is a software solution designed to be the ‘everything business’ platform of the direct and social sales industry. With a focus on intuitive user-experience, and a full suite of configurable, cloud-powered business management tools, they are committed to helping organizations drive and plan for growth. Their experience in software and marketing, from distributor to corporate, means they truly understand what it takes to help clients succeed. To learn more, please visit www.directscale.com.
Media Contact:
Square 1 Bank, a division of Pacific Western Bank
Laura Piggott
919.597.7466
[email protected]