OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Weight-Loss Drug Ads Take Over the Super Bowl as Pharma Embraces Direct-to-Consumer Marketing 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Anta Sports Expands Global Footprint With Strategic Puma Stake 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Innovent Biologics Shares Rally on New Eli Lilly Oncology and Immunology Deal 
AUSTIN, Texas, June 20, 2017 -- Square 1 Bank, a division of Pacific Western Bank, today announced that it has provided a $70 million syndicated credit facility to existing client Alert Logic, a leader in Security-as-a-Service solutions for the cloud. Proceeds from the facility will be used for working capital and various internal growth initiatives.
Headquartered in Houston and with seven global offices, Alert Logic combines cloud-native software and analytics with expert services to assess, detect and block threats to applications and other enterprise workloads. Alert Logic monitors, analyzes and protects enterprise application environments with intrusion detection, vulnerability assessment, web application security and log management solutions coupled with 24x7 security monitoring, threat intelligence, security research and content production, machine learning and other forms of security analytics.
“Over the years, Alert Logic has counted on Square 1 for the working capital and financial flexibility that have allowed us to successfully grow our business in the rapidly changing technology sector,” said Gray Hall, chief executive officer of Alert Logic. “Square 1 has the technology industry expertise, financial leadership and unwavering customer focus that we look for to head up all of our commercial banking needs.”
“Square 1 has enjoyed a long relationship with Alert Logic having served as the company’s financial services partner for over eight years,” added David McLaughlin, managing director of Square 1’s Texas region. “It has been exciting to watch the company evolve into a leader in the cybersecurity sector. We are thrilled that Square 1 can grow with Alert Logic and continue to provide tailored solutions for the company’s banking needs with this syndicated credit facility.”
About Square 1 Bank
Square 1 Bank is a division of Pacific Western Bank, a Los Angeles-based commercial bank with over $21 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.
Media Contact: Square 1 Bank, a division of Pacific Western Bank Dee McDougal 919.597.7479 [email protected]
