Company intends to use increased financial flexibility to fuel strategic growth plan including expansion of its CAKE software platform into the digital advertising industry
NEWPORT BEACH, Calif., - (http://www.financialnewsmedia.com News Alert) - Accelerize New Media, Inc. (OTCBB: ACLZ), a leader in marketing technology solutions, and Square 1 Bank (Nasdaq: SQBK), the premier banking partner to entrepreneurs and the venture capital community, today announced an increase in Accelerize's credit facility from $3 million to $6 million to drive additional global adoption of its technology solutions into new and existing digital advertising markets.
In addition to CAKE for Advertisers, Accelerize intends to use the credit facility to roll out the recently enhanced version of its affiliate marketing software solution, CAKE for Networks. The product release provides new industry-leading capabilities for the company's base of over 450 customers. The organization also plans to develop additional SaaS-based software products based on the CAKE platform to broaden its market opportunities.
"Over the past several years we have established our high-growth company as a top provider of performance-based marketing software," said Brian Ross, CEO of Accelerize. "While we take great pride in this accomplishment, Accelerize now has the opportunity to extend our proven, recurring-revenue model to the ad tech industry with the introduction of CAKE for Advertisers. Plus, the additional capital from our trusted financial services partner, Square 1 Bank, makes us well positioned to embark on Accelerize's next chapter of expansion and deliver world-class solutions for brand advertisers and affiliate marketers.
Chris Erro, senior vice president at Square 1 Bank, added, "We are pleased to provide Accelerize with the additional working capital the company needs to execute on its strategy to move upstream with its growing enterprise product portfolio. We are always pleased to partner with a company that shares our commitment to creating innovative, market-leading solutions, and we look forward to continuing our support as the company migrates into these vast market opportunities."
About Square 1 Bank
Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1's expertise, focus and strong capital base provide flexible resources and unmatched support to meet our clients' needs. Square 1 has offices coast-to-coast in Austin, the Bay Area,Boston, Denver, Durham, Los Angeles/Orange County, New York, San Diego, Seattle, and Washington, DC. For more information, visit www.square1bank.com.
Accelerize New Media, Inc. (OTCQB: ACLZ) (OTCBB: ACLZ), offers marketing technology solutions that revolutionize the way advertisers leverage their digital advertising data. CAKE, a division of Accelerize, provides SaaS-based solutions that track, attribute and optimize the performance of digital marketing spend, in real-time. Bringing clarity to multi-channel marketing campaigns, CAKE empowers advertisers, agencies, publishers and networks with the insight to make intelligent marketing decisions. For more information on CAKE visit www.getCAKE.com. For more information about Accelerize, visit www.accelerizenewmedia.com.
Use of Forward-looking Statements
This press release may contain forward-looking statements from Accelerize New Media, Inc. within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. For example, when we describe our growth plan, when we say that the credit facility will be used to build market awareness and increase sales for CAKE for Advertisers, when we describe the estimated size of digital ad spending, when we say that we plan to develop additional products, and when we describe Accelerize as a high growth company,we are using forward-looking statements. These forward-looking statements are based on the current expectations of the management of Accelerize New Media only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in technology and market requirements; our technology may not be validated as we progress further; we may be unable to retain or attract key employees whose knowledge is essential to the development of our products and services; unforeseen market and technological difficulties may develop with our products and services; inability to timely develop and introduce new technologies, products and applications; loss of market share and pressure on pricing resulting from competition, which could cause the actual results or performance of Accelerize New Media to differ materially from those contemplated in such forward-looking statements. Except as otherwise required by law, Accelerize New Media undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. For a more detailed description of the risk and uncertainties affecting Accelerize New Media, reference is made to Accelerize New Media's reports filed from time to time with the Securities and Exchange Commission.
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SOURCE Accelerize New Media Inc.
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