is banking on growing interest in collaborative software development with a $8 million credit facility for Rally Software Development.

In January, acquired 6th Sense Analytics, a Triangle-based startup. Rally focuses on so-called agile development with an emphasis on application lifecycle management.

The Durham-based bank focuses on venture-backed companies. Rally has raised more than $35 million in venture financing from such firms as Mohr Davidow Ventures, Boulder Ventures, Mobius Venture Capital and Vista Ventures.

“Rally has demonstrated incredible leadership in the ALM market by winning the top awards for its products and earning the business of 54,000 users in 50 countries,” said Square 1 Bank’s Ken Fugate, senior vice president for venture banking, in a statement. “We’ve been very impressed by Rally’s strong growth and are ready and willing to partner with Rally, providing financial expertise in support of their success.”

Rally raised $16.85 million last year.

“We’re very pleased to have this additional capital to invest in our continued growth, especially given the nature of this economy,” said Jim LeJeal, Rally’s chief financial officer, of the Square 1 backing. “As more companies adopt Agile for the benefits it delivers and our market grows faster, this added financing puts us in a position to take advantage of strategic acquisitions as well as continue to grow organically.”

Rally has received three consecutive Jolt Product Excellence Awards. It has some 1,500 corporate customers and more than 50,000 users in 50 countries.

Square 1, which has an office in Boulder, also maintains operations in Texas, California, Virginia, New York, Washington, Texas and Massachusetts.