SAN JOSE, CA--(Marketwired - Aug 11, 2015) - Bridge Bank, a division of Western Alliance Bank, announced today that it has provided a $7 million credit facility, including a $4 million term loan and a $3 million line of credit, in conjunction with the final closing of Unify Square's $12.2 million Series B round. Unify Square is recognized as an elite partner of Microsoft and the industry leading provider of software and services designed to monitor and manage Skype for Business in Fortune 500 enterprises. Microsoft's continued investment in both the original Series B funding, as well as the extension, solidifies its status as the lead investor in Unify Square. The new funds will be used to broaden Unify Square's global reach and develop new, on-premise and cloud-based innovations to strengthen its software support for Microsoft's Unified Communications (UC) platform.
"Unify Square is a standout Microsoft partner with an impressive customer roster and superior technology and service offering," said Mike Lederman, senior vice president and region director for Bridge Bank. "We believe in Unify Square's long-term growth strategy and expect the company to play a critical role in the success of Microsoft's Skype for Business transition campaign," he added.
Enterprise adoption of Microsoft's Skype for Business has experienced a steady climb in its market rank and is anticipated to be one of the top three solutions for telephony services by 2016, according to Gartner estimates. Unify Square is recognized as one of the leading partners of Microsoft Skype for Business/Lync, currently impacting day-to-day operations of over 5 million seats at enterprises like Deutsche Telekom and Unilever. With Bridge Bank's combined $7 million credit facility and extension to the Series B, Unify Square will be perfectly positioned to increase its market share and continue to accelerate innovation across its monitoring, provisioning and business intelligence solutions for Skype for Business.
"The team at Bridge Bank clearly demonstrated their expertise in working with rapidly growing technology companies like ours, and crafted a financial solution for us that fits our unique situation," said Sonu Aggarwal, CEO of Unify Square. "Their support, coupled with our close alignment with Microsoft as an investor and key partner, will help us scale more aggressively and meet the demands that come with the ever growing UC market leadership of the Skype for Business platform."
For more information about Unify Square and Bridge Bank's credit facility, please click here.
About Unify Square
Founded by former Microsoft® Lync® (now Skype for Business) product visionaries and patent holders, Unify Square ensures successful Skype for Business initiatives by focusing first on the key outcome that matters: end-user satisfaction. With more than five million Lync enabled seats across 150 global enterprises -- including more than 45 of the Global and Fortune 500 -- we bring unique insight into the critical factors that make Lync and Skype for Business work, and that insight informs a complete set of services, software and support that helps IT get Skype for Business right the first time and ensure the transformational potential of unified communications over the long term. Headquartered in Bellevue, Washington, Unify Square is a Microsoft elite partner with offices in the United Kingdom, Germany, Switzerland, India and Singapore. Email us: sales@unifysquare.com or visit the website: www.unifysquare.com
About Bridge Bank
Bridge Bank is a division of Western Alliance Bank, 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 from 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 $10 billion in assets, Western Alliance Bancorporation (