Square 1 Bank Announces Credit Facility to Voci Technologies
28 August 2018 - 3:00PM
Square 1 Bank, a division of Pacific Western Bank, today announced
that it has provided a $5 million credit facility to new client
Voci Technologies, a leading provider of speech analytics platform
technology for enterprises. Proceeds from the facility will support
continued long-term growth initiatives.
Pittsburgh-based Voci Technologies combines artificial
intelligence (AI) and deep learning algorithms to convert audio and
video recordings into highly accurate transcriptions and actionable
insights. Since 2012, Voci’s innovative technology has enabled
contact centers to extract intelligence from voice data to improve
customer experience, operational efficiency, and compliance
requirements. Voci is committed to empowering its customers and
strategic partners with the flexibility to choose the deployment
methods and analytic solutions that best meet their business needs.
The company is backed by leading investors including Grotech
Ventures and Harbert Venture Partners.
Anthony Gadient, co-founder and CEO of Voci Technologies, said,
“This financing reflects Square 1’s confidence in our growth
potential. We look forward to leveraging this support to expand the
development and delivery of our world-leading platform for speech
analytics, which gives companies the freedom to choose their own
deployment and analytic solutions.”
“Voci Technologies has rapidly grown to become a leader in
speech recognition technology,” added Mac Wheatley, vice president
in Square 1’s technology banking practice. “After raising $8
million in its Series B financing, the company aims to accelerate
its sales and marketing and further develop its innovative speech
analytics platform technology. We are thrilled to add Voci to the
Square 1 portfolio and look forward to growing the relationship as
the company’s success continues.”
About Square 1 BankSquare 1 Bank is a division
of Pacific Western Bank, a Los Angeles-based commercial bank with
over $24 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 Voci TechnologiesVoci Technologies
provides a market-leading, enterprise speech-to-text platform that
improves customer experience, optimizes contact center efficiency,
mitigates risk resulting from fraud and compliance violations and
increases sales effectiveness. Spun out of Carnegie Mellon
University, Voci employs artificial intelligence and deep learning
algorithms to deliver highly accurate transcriptions — as well as
insights related to gender, sentiment and emotion — either in real
time or from batches of previously recorded voice data files.
Focusing on speech analytics solutions, Voci offers the fastest,
most accurate and complete enterprise transcription platform built
on an open architecture for ease of implementation and integration.
To learn more about Voci, visit http://www.vocitec.com.
Media Contact: Square 1 Bank, a division of
Pacific Western Bank Laura Piggott919.597.7466
lpiggott@square1bank.com
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