CHICAGO, April 25, 2017 (GLOBE NEWSWIRE) -- Square 1 Bank, a division of Pacific Western Bank, today announced that it has provided a $4 million credit facility to new client ItemMaster®, a leading provider of product content services for the US CPG and CPG Retail market. Proceeds from the facility will support growth initiatives and provide working capital.
Based in Chicago, IL ItemMaster is a leader in creating, enhancing, managing and delivering comprehensive, certified content for major brands, online, in-store, mobile and everywhere a company or consumer may need product information. The company’s cloud-based platform allows manufacturers to verify, share and manage their product portfolio and custom branded content for distribution across all channels. ItemMaster is backed by leading venture capital firms including Edison Partners and Chicago Ventures.
“Moving to Square 1 provides us with access to additional investment funds to continue to rapidly scale our business to meet market demand,” said Michael Murray, chief executive officer and president of ItemMaster. “After conducting a review and considering a variety of banks, we determined Square 1 was the best partner to meet our needs and we look forward to our relationship growing as our business grows.”
“ItemMaster is a promising, high-growth Midwestern company that is revolutionizing product content to fuel today’s data driven retail marketplace,” added Jeff Lampe, managing director of Square 1’s technology banking practice in the Midwest. “We are thrilled to add ItemMaster to our portfolio and look forward to supporting the company’s mission to bring brands to life through consistent, high-quality product content in-store, online and via mobile.”
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.
About ItemMaster
ItemMaster® is the most comprehensive source of brand-verified product content to satisfy every outpost of market demand. Our cloud-based Brand Activation™ Platform enables manufacturers to share, verify and manage their product portfolio and custom branded content for distribution across all channels; turning shoppers into buyers.
More than 1,000 retailers, agencies and mobile app developers access ItemMaster as a one-stop source of certified brand content through our open exchange network. This allows ItemMaster to offer manufacturers real-time analytics and actionable brand data to drive business decisions. A privately-held company, ItemMaster already supports Complete and Verified™ content for over 5,000 brands and is on a mission to reinvent and deliver packaging for the 21st century.