SAN JOSE, Calif., June 20, 2017 (GLOBE NEWSWIRE) — Bridge Bank today announced it has provided MediaAlpha with a new $20 million credit facility, specifically a $5 million term loan and $15 million line of credit along with a range of customizable products and services. The facility and services will provide working capital flexibility and ample capacity to fund growth opportunities.
Based in Los Angeles, MediaAlpha is a pioneer in online advertising technology, providing the industry’s only real-time bidding platform for the transparent, programmatic buying and selling of vertical-specific search and performance media. MediaAlpha’s platform supports multiple transactional models, including private marketplaces, open exchanges, and demand-side platform-only implementations.
“MediaAlpha’s exceptional technology enables advertisers to effectively target and acquire high-intent consumers at the bottom of the funnel,” said Victor Le, vice president in Bridge Bank’s Southern California Technology Banking Group. “We’re excited to be a part of their continued success and to support their strategic growth initiatives,” Le added.
“It was important to us to work with a financial institution that understands the fast-paced technology sector. Bridge Bank’s strong experience in our industry was clear and we knew we had found a supportive partner,” said Tigran Sinanyan, AlphaMedia chief financial officer. “As we expand in new verticals and deepen our relationships in existing verticals, having a flexible credit facility will help us accelerate growth and drive continued platform adoption,” Sinanyan added.
MediaAlpha innovates at the intersection of programmatic technologies and vertical search media, bringing unparalleled transparency and efficiency to both buyers and sellers. Its demand side platform empowers advertisers to engage high-intent consumers programmatically to increase campaign ROI. Through its supply side platform, publishers gain complete control over how they manage their inventory and demand sources to maximize overall yield. The Company’s marketing technology platforms power over 25 million high-value transactions annually, representing more than $250 million in media spend across insurance, travel, personal finance, education, and home services sectors. For more information, visit www.mediaalpha.com.
About Bridge Bank
Bridge Bank is a division of Western Alliance Bank, Member FDIC, 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 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. One of the country’s top-performing banking companies, Western Alliance ranks #4 on the Forbes 2017 “Best Banks in America” list. For more information, visit bridgebank.com.
CONTACT: Media Contact for Bridge Bank Ryan Barringer Senior Vice President Division Marketing Director 408.556.8677 [email protected]