LOS ANGELES, May 04, 2017 (GLOBE NEWSWIRE) -- Square 1 Bank, a division of Pacific Western Bank, today announced that it has provided a $5 million credit facility to new client mPulse Mobile, a leader in mobile health engagement solutions. Proceeds from the facility will augment working capital and provide access to funds to accelerate the company’s growth initiatives, including merger and acquisition opportunities and ongoing product innovation, subject to the loan’s terms and conditions.
Headquartered in Encino, California, mPulse Mobile drives improved health outcomes and business results by engaging individuals through real-time, tailored interactive dialogue. By combining mobile technology, data science, analytics and industry expertise, the company assists healthcare organizations in activating consumers in their health and lifestyle choices. mPulse Mobile is backed by several leading investors including HLM Venture Partners, OCA Ventures, Echo Health Ventures and Rincon Venture Partners.
“Our sole focus is working with providers, Medicaid and commercial health plans, and pharmaceutical and wellness companies to engage and activate their consumers for improved health outcomes,” said Brian Chudleigh, chief financial officer of mPulse Mobile. “We’re pleased to have a great partnership with Square 1 to help us fulfill our mission.”
“Through innovative technology and partnerships with leading U.S.-based healthcare organizations, mPulse Mobile has positioned itself as a pioneer in the mobile health market,” added Rilus Graham, senior vice president in Square 1’s life sciences practice. “We are thrilled to support the company’s success as it continues to grow and adapt to emerging trends in healthcare.”
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.
About mPulse Mobile
mPulse Mobile, the leader in mobile health engagement, drives improved health outcomes and business efficiencies by engaging individuals with meaningful and interactive dialogue. mPulse Mobile combines technology, analytics and industry expertise that helps healthcare organizations activate their customers to adopt healthy behaviors. With over 8 years, a hundred million messages sent, and 50+ Health Plan, Provider, Pharma and Wellness customers, mPulse Mobile has the data, the experience and the technology to drive healthy behavior change.