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Bridge Bank Adds $7MM Facility to Unify Square’s Series B Extension

August 12, 2015, 07:40 AM
Filed Under: Technology
Related: Bridge Bank

Bridge Bank, a division of Western Alliance Bank, announced 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."

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