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Spruce Media Secures $15M in Venture Debt

2012-11-14
SAN FRANCISCO, CA, Leading provider of enterprise-class marketing solutions for Facebook Ads, today announced that it has secured $15M in debt financing from Square 1 Bank.
Spruce Media (www.sprucemedia.com), the leading provider of enterprise-class marketing solutions for Facebook Ads, today announced that it has secured $15M in debt financing from Square 1 Bank (www.square1bank.com). Spruce Media continues to grow its market share by helping the most successful advertisers, agencies, and trading desks on Facebook drive consumers from likes to influence.

Spruce Media will use the financing to accelerate sales growth and further scale its technology development team. Additionally, Spruce plans to expand into additional U.S. cities, invest in its technology build out, and provide additional infrastructure for both its managed service and self-service business units.

About Spruce Media:

Spruce Media is the leading provider of enterprise-class marketing technology that delivers real results at scale, and drives consumers from likes to influence for the most successful advertisers, agencies, and trading desks on Facebook. Recently named one of 12 Facebook Strategic Preferred Marketing Developers, the highest distinction of excellence offered, Spruce has pushed over 300-billion impressions through its software and is the technology of choice for the largest advertisers on Facebook. Founded in 2010, Spruce has developed a robust solution integrating ad creation, bid management, analytics, and reporting into one easy to use, yet powerful interface, which can be licensed or coupled with managed services. Spruce Media is based in San Francisco and has sales offices in Los Angeles, Dallas, Chicago, Minneapolis, Washington D.C., and New York.

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. 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. For more information, visit www.square1bank.com.
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