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Square 1 Bank Provides $5MM in Working Capital to mPulse

May 05, 2017, 07:00 AM
Filed Under: Telecom

Square 1 Bank, a division of Pacific Western Bank, 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."

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