Durham-based Square 1 Bank, which focuses on the venture capital industry and related companies, is providing a credit facility to NanoLumens, a developer of flexible and fixed LED displays.
NanoLumens is based in Atlanta.
Financial terms of the deal were not disclosed.
“I was very impressed with the vision, experienced management team and long-term business plan of NanoLumens,” said Square 1’s Peter Meath, who heads the firm;s technology banking group. “Square 1 is excited to be a part of their continued success in the digital signage space.”
NanoLumens says the funds will be used in part to “help fuel continued growth.”
“Square 1 Bank has a demonstrated record of success in helping entrepreneurs and their companies rapidly scale their business,” NanoLumens CEO Rick Cope said in a statement. “The proceeds of this new credit facility will help us to better meet the rapidly growing demand for our solutions while we continue to develop a host of new products for both current and new markets. The strong and consistent support of our partners at Square 1 Bank is going to play an important role in our continued success.”
NanoLumens is privately held.
