WASHINGTON, June 27, 2017 (GLOBE NEWSWIRE) — Square 1 Bank, a division of Pacific Western Bank, today announced that it has provided a credit facility to new client LiveSafe, a leading mobile safety communications platform. Proceeds from the facility will support sales-related initiatives and expansion.
Based in Arlington, VA, the LiveSafe platform provides actionable crowd-sourced intelligence gathering for security officials of major corporations and educational institutions, to help keep employees and students safe and informed. The software opens real-time, two-way communication between individuals and security and facilities teams allowing users to report incidents or suspicious activity through text, videos and pictures.
“Square 1 continues to support and understand early-stage companies, specifically SaaS-based technology platforms,” said Carolyn Parent, chief executive officer of LiveSafe. “The Square 1 team’s efficiency in learning our business, our key metrics and our core drivers made for a smooth process from first meeting to a tailored LOI and a successful closing. We look forward to having Square 1 on the journey with LiveSafe to create safer communities, greater communication and enhanced awareness.”
“Security teams and law enforcement officials recognize that preventing incidents is far more valuable than simply responding when problems occur,” said Kevin Johnson, managing director of Square 1’s Mid-Atlantic region. “LiveSafe empowers individuals to report anything from maintenance requests to suspicious behavior in real-time from mobile devices. We are excited to support the LiveSafe platform and the team’s commitment to creating safer communities.”
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.
LiveSafe is the world’s leading mobile safety communications platform delivering actionable crowd-sourced safety and security intelligence, preventing incidents before they occur and connecting people to the help they need. LiveSafe is used by Hearst, Cox Communications, the San Francisco 49ers and many other leading organizations. Follow LiveSafe on Twitter @LiveSafe, and learn more at LiveSafeMobile.com.
CONTACT: Media Contact: Square 1 Bank, a division of Pacific Western Bank Dee McDougal 919.597.7479 [email protected]