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Bridge Bank Provides Credit Facility to PowerAdvocate

February 28, 2013, 07:31 AM

Bridge Bank announced it has provided PowerAdvocate with a multi-million dollar financing facility to support capital growth as the company expands its presence in the energy sector and enters new markets.

"We are pleased to be working with Bridge Bank," said Dan Sullivan, chief executive officer for PowerAdvocate, an SaaS provider of big data analytics solutions for energy companies that enable enterprise improvement through supply market data. "As we continue to invest in creating ever-expanding value for our customers, it is important that we have the right financing partner. Bridge Bank truly understood our business and provided us with a flexible financing solution to match our needs. It was a unique financing experience. They are very, very attuned to evolving technology company needs."

"PowerAdvocate has done a tremendous job of building their company from the ground up, funding their own growth," said Dick Sweeney, senior vice president and market manager in Bridge Bank's Technology Banking Division. "We're extremely excited about our partnership with PowerAdvocate -- they have a substantial opportunity to expand in their market. We are proud to be associated with this fast-paced company and we're excited to be part of their growth and continued success."

In an environment in which companies are increasingly focused on cost structure and the efficient use of capital, PowerAdvocate delivers data-driven technology solutions that provide insight into real-time supply market conditions and that enable customers to make better and more informed operational decisions.

Bridge Bank, National Association, is a full-service professional business bank headquartered in Silicon Valley with offices located nationwide.

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