Accelerize New Media, Inc. and Square 1 Bank 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.
The facility will be used primarily to build market awareness and increase sales for Accelerize's newly launched product, CAKE for Advertisers, a software solution developed by CAKE, its digital software division. Expanding the company's product offerings into a new market of large, brand advertisers, CAKE for Advertisers is specifically designed to unlock the value of real-time insights for digital marketers. eMarketer estimates that digital ad spending will total $140.15 billion in 2014, accounting for approximately one quarter of all paid media spending worldwide. The new SaaS-based product is built to maximize effectiveness for advertisers by unifying the tracking, attribution and optimization of all digital marketing spend across search, display, email, video, social, affiliate and other channels.
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."
Accelerize New Media, Inc., 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.