SAN JOSE, CA — (Marketwired) — 12/22/14 — Bridge Capital Holdings (NASDAQ: BBNK), whose subsidiary is Bridge Bank, a full-service professional business bank headquartered in Silicon Valley and with offices located nationwide, announced today that it has provided Ustream, a technology company that provides video streaming services to more than 80 million viewers and broadcasters, with $7 million in the form of a combined working and growth capital credit facility.
“Ustream has revolutionized how enterprises utilize live video streaming for both internal and external marketing and communications,” said Jeff Brown, relationship manager in Bridge Bank–s Technology Banking Division. “We look forward to working with the entire team at Ustream to support their ongoing growth initiatives, and to help the company reach its next milestone,” he added.
Over the past two years, Ustream has achieved exponential growth in their subscription-based business model with thousands of corporate customers and tens of millions of monthly unique viewers.
Ustream will use these funds to refinance senior debt and provide additional working capital to support the company–s continued growth in its industry-leading, SaaS-based live video streaming platform for business communications.
“Ustream has experienced remarkable growth in recent years and we needed a banking partner that can support that growth,” said Mary Korn, chief financial officer of Ustream. “Not only did Bridge Bank provide a funding solution that perfectly fit our growth needs, they were also able to introduce us to a venture debt partner to provide additional growth capital. Bridge Bank has been a valuable resource to Ustream,” she added.
About Bridge Bank, National Association
Recognized by The Findley Reports as a Super Premium Performing Bank, and designated “Superior” by BauerFinancial and IDC, Bridge Bank is a full-service professional business bank founded in the highly competitive climate of Silicon Valley in 2001. From the very beginning, our goal has been to offer small-market and middle-market businesses from across many industries a better way to bank. Our technology banking division provides a broad range of financial solutions to venture-backed and non-venture-backed companies, enabling us to meet our clients– varied needs across all stages of business life. It–s how we go about doing so that differentiates us from our competition. Bridge Bank–s product offering includes growth capital, equipment and working capital credit facilities and treasury management solutions, along with a full line of international products and services and financing secured by domestic, government and foreign receivables. Learn more at the new . Follow us @BridgeBank.
About Bridge Capital Holdings
Bridge Capital Holdings is the holding company for Bridge Bank, National Association. Bridge Capital Holdings was formed on October 1, 2004 and holds a Global Select listing on the NASDAQ stock market under the trading symbol BBNK. Bridge Bank Holding Company was recently admitted to Sandler O–Neill–s Class of 2014 “Sm-All Stars” — a select group of 35 top-performing publicly traded banks and thrifts from throughout the U.S. with market capitalization of up to $2.5 billion. For additional information, visit the Bridge Capital Holdings website at .
Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to the safe harbors created by that Act. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” Forward-looking statements describe future plans, strategies and expectations. Forward-looking statements are based on currently available information, expectations, assumptions, projections, and management–s judgment about the Company, the banking industry and general economic conditions. These forward-looking statements are not guarantees of future performance, nor should they be relied upon as representing management–s views as of any subsequent date. Future events are difficult to predict, and the expectations described above are necessarily subject to risk and uncertainty that may cause actual results to differ materially and adversely.
Forward-looking statements involve significant risks and uncertainties and actual results may differ materially from those presented, either expressed or implied, in this press release. Factors that might cause such differences include, but are not limited to: the Company–s ability to successfully execute its business plans and achieve its objectives; changes in general economic, real estate and financial market conditions, either nationally or locally in areas in which the Company conducts its operations; changes in interest rates; new litigation or changes in existing litigation; future credit loss experience; increased competitive challenges and expanding product and pricing pressures among financial institutions; legislation or regulatory changes which adversely affect the Company–s operations or business; loss of key personnel; changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies; and the ability to satisfy requirements related to the Sarbanes-Oxley Act and other regulation on internal control.
The reader should refer to the more complete discussion of such risks in Bridge Capital Holdings– annual reports on Forms 10-K and quarterly reports on Forms 10-Q on file with the Securities and Exchange Commission. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.
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