Square 1 Bank announced that it has provided a credit facility to new client CircleBack, Inc., a contact intelligence company that enhances the way businesses and consumers maintain relationships through a CRM data application. Proceeds from the credit facility will help to support the company's continued growth.

Headquartered in Vienna, VA, CircleBack's patented engine, developed using artificial intelligence algorithm, processes billions of data points from millions of users every day, enabling it to determine the most accurate, up-to-date information for each contact. CircleBack offers iOS and web based solution for consumers to maintain contact quality in their address book. CircleBack also offers contact updating directly into corporate contact databases, contact retrieval of business-card and email-signature data that have not yet been recorded in CRM systems, and contact data analysis that provides sales and marketing teams with insights to help them target audiences more efficiently.

"As an up-and-coming venture backed company, we believe CircleBack has great potential for growth in the rapidly evolving CRM market," said Kay Parry, senior vice president at Square 1 Bank. "The company's impressive expertise in big data and artificial intelligence provides value not only to businesses but consumers as well. We look forward to supporting the CircleBack team as the company continues to grow and develop for years to come."

CircleBack brings accuracy to contact data no matter where it is by blending artificial intelligence with collective intelligence.