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Bank
FINANCE | Retail Banking
square1bank.com

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Investments

140

Portfolio Exits

73

Partners & Customers

2

Service Providers

3

About Square 1 Bank

Square 1 Financial is the bank holding company for Square 1 Bank, 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 clients' needs. The bank offers tailored products and solutions aided by the latest in technological innovations. Square 1 has offices coast to coast in Austin, Boston, Denver, Durham, Los Angeles, New York, San Diego, Seattle, Silicon Valley, and Washington, DC.

Square 1 Bank Headquarter Location

406 Blackwell Street Suite 240

Durham, North Carolina, 27701,

United States

866-355-0468

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Latest Square 1 Bank News

Square 1 Bank Closes $5MM Credit Facility for Zenflow

Nov 27, 2018

Square 1 Bank Closes $5MM Credit Facility for Zenflow November 27, 2018, 07:00 AM Square 1 Bank, a division of Pacific Western Bank, announced that it has provided a $5 million credit facility to new client Zenflow, a privately-held urologic medical device company. Proceeds from the facility will support short-term and long-term growth initiatives. Headquartered in South San Francisco, Zenflow was founded by a team of Stanford University Biodesign Fellows to develop a patient-focused approach to treat the symptoms of benign prostatic hyperplasia (BPH). Through the company’s Spring® System, patients experiencing BPH symptoms can undergo treatment in a simple procedure in an urologist’s office. The innovative Spring Implant, composed of super elastic shape-memory material, is deployed through a small, flexible catheter which can allow for a less invasive and less painful treatment. The company is backed by several leading investors including F-Prime Capital Partners, Invus Opportunities, Medical Technology Venture Partners, Y Combinator and the Stanford-StartX Fund. “We are excited to have Square 1’s confidence in our team and technology as we take the next steps in Zenflow’s journey,” said Nick Damiano, co-founder and chief executive officer of Zenflow. “This credit facility will help us execute on our clinical studies, secure regulatory approval, and fulfill our mission of improving quality of life for the many millions of men suffering from BPH symptoms.” “Zenflow’s founders, Nick Damiano and Shreya Mehta, are great examples of medical device entrepreneurs that are advancing emerging technologies which simultaneously improve patient outcomes and reduce costs,” added JC Simbana, senior vice president of Square 1’s life sciences practice. “Nick and Shreya have built a talented team that is motivated to make a real impact on patients’ lives. We are pleased to serve as Zenflow’s financial services partner and support its mission to treat symptoms of benign prostatic hyperplasia.”

Square 1 Bank Investments

140 Investments

Square 1 Bank has made 140 investments. Their latest investment was in Limor as part of their Seed on April 4, 2020.

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Square 1 Bank Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/8/2020

Seed

Limor

Yes

1

12/11/2018

Debt

ShopKeep

$65M

Yes

3

11/27/2018

Line of Credit

Zenflow

$5M

Yes

2

11/5/2018

Line of Credit

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$99M

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10

10/16/2018

Line of Credit

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$99M

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10

Date

4/8/2020

12/11/2018

11/27/2018

11/5/2018

10/16/2018

Round

Seed

Debt

Line of Credit

Line of Credit

Line of Credit

Company

Limor

ShopKeep

Zenflow

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Amount

$65M

$5M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

1

3

2

10

10

Square 1 Bank Portfolio Exits

73 Portfolio Exits

Square 1 Bank has 73 portfolio exits. Their latest portfolio exit was ReviewTrackers on June 16, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/16/2022

Acquired

$99M

1

3/9/2022

Acquired

$99M

5

11/2/2021

Acquired

$99M

7

9/3/2021

Acquired

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$99M

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10

8/19/2021

Merger

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$99M

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10

Date

6/16/2022

3/9/2022

11/2/2021

9/3/2021

8/19/2021

Exit

Acquired

Acquired

Acquired

Acquired

Merger

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

5

7

10

10

Square 1 Bank Acquisitions

1 Acquisition

Square 1 Bank acquired 1 company. Their latest acquisition was Sand Hill Finance on January 02, 2014.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

1/2/2014

$99M

Acquired

1

Date

1/2/2014

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Acquired

Sources

1

Square 1 Bank Partners & Customers

2 Partners and customers

Square 1 Bank has 2 strategic partners and customers. Square 1 Bank recently partnered with AliveCor on April 4, 2015.

Date

Type

Business Partner

Country

News Snippet

Sources

4/15/2015

Client

United States

Square 1 Bank Announces Credit Facility to AliveCor, Inc.

SAN FRANCISCO , April 15 , 2015 -- Square 1 Bank , the premier banking partner to entrepreneurs and the venture capital community , today announced that it has provided a $ 3 million credit facility to new client AliveCor Inc. , a mobile health company that helps users take control of their heart health using the AliveCor and free AliveECG application .

1

5/16/2013

Vendor

United States

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10

Date

4/15/2015

5/16/2013

Type

Client

Vendor

Business Partner

Country

United States

United States

News Snippet

Square 1 Bank Announces Credit Facility to AliveCor, Inc.

SAN FRANCISCO , April 15 , 2015 -- Square 1 Bank , the premier banking partner to entrepreneurs and the venture capital community , today announced that it has provided a $ 3 million credit facility to new client AliveCor Inc. , a mobile health company that helps users take control of their heart health using the AliveCor and free AliveECG application .

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Sources

1

10

Square 1 Bank Service Providers

3 Service Providers

Square 1 Bank has 3 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Investment Bank

Bookrunner

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Service Provider

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Associated Rounds

Provider Type

Investment Bank

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Service Type

Bookrunner

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Partnership data by VentureSource

Square 1 Bank Team

31 Team Members

Square 1 Bank has 31 team members, including current Chief Executive Officer, President, Douglas H Bowers.

Name

Work History

Title

Status

Judith E Erwin

Grasshopper Bank, Pex, Imperial Bank, and Plaza Bank

Founder

Current

Douglas H Bowers

Chief Executive Officer, President

Current

Will Kelly

Ironside Capital Group

President

Current

Patrick Oakes

Chief Financial Officer

Current

Susan G Casey

Executive Vice President

Current

Name

Judith E Erwin

Douglas H Bowers

Will Kelly

Patrick Oakes

Susan G Casey

Work History

Grasshopper Bank, Pex, Imperial Bank, and Plaza Bank

Ironside Capital Group

Title

Founder

Chief Executive Officer, President

President

Chief Financial Officer

Executive Vice President

Status

Current

Current

Current

Current

Current

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