Opus Bank Announces $8 Million of Financing Provided to 3VR, the Video Intelligence Company
SAN FRANCISCO, CA ---- Opus Bank (“Opus”) (Nasdaq: OPB) announced today that its Technology Banking division provided $8 million of financing to 3VR, the leading provider of video intelligence solutions for real-time security and customer insights. The financing provided by Opus will be used for growth.
Stephen H. Gordon, Chairman, Chief Executive Officer, and President of Opus Bank stated, "At Opus Bank, we understand the value of providing capital funding to those entrepreneurs and businesses that cultivate growth in the communities where we live and work. The video intelligence solutions offered by 3VR have become the standard for hundreds of global customers, including leading banks, retailers, governments, and law enforcement agencies. We believe that by providing funding to businesses like 3VR, we are fostering job creation and economic growth."
Al Shipp, Chief Executive Officer of 3VR commented, "3VR is coming off a record year and positioned for higher growth in 2015. In preparing for this growth, we chose to partner with Opus Bank whose strength and leadership provides us the necessary foundation to capitalize on our global expansion opportunities."
Kevin McBride, Senior Managing Director and Head of the Technology Banking division at Opus Bank, stated, "3VR is a leader in video security and customer insight applications. This transaction marks the second deal Opus has closed in this space in as many months." McBride concluded, "We are pleased to have become 3VR's lead commercial bank and to have joined its investor group, including Kleiner Perkins, Vantage Point, and Menlo Ventures, in supporting the company's impressive growth."
Technology Banking at Opus Bank
Opus Bank’s Technology Banking division serves West Coast-based venture-backed, private equity, and public middle-market technology companies that focus on Intellectual Property (IP), software, hardware, and IT services. The Technology Banking division is led by Kevin McBride, Senior Managing Director, a seasoned Technology Banking veteran who has acted as the lead agent on transactions for a number of private and public companies, including Adobe Systems, Electronic Arts, Epicor Software, Kratos Defense and Security Systems, and Quantum Corporation.
Based in San Francisco, CA, 3VR provides video business intelligence solutions for real-time security and customer insights enabling organizations to protect employees, customers and assets as well as improve store operations and shopping experiences. 3VR products include hybrid network video recorders, video management and investigation software, comprehensive dashboards and reports and a robust suite of video analytics and APIs. 3VR is one of the fastest growing US-based private companies and is the standard for hundreds of global customers in Financial Services, Retail, Government, Critical Infrastructure and Hospitality. www.3vr.com
About Opus Bank
Opus Bank is an FDIC insured California-chartered commercial bank with over $4.7 billion of total assets, $3.7 billion of total loans, and $3.5 billion in total deposits as of September 30, 2014. Opus Bank provides high-value, relationship-based banking products, services, and solutions to its clients through its Retail Bank, Commercial Bank, Merchant Bank, and Correspondent Bank. Opus Bank offers a suite of treasury and cash management and depository solutions and a wide range of loan products, including commercial business, healthcare, technology, multifamily residential, commercial real estate, and structured finance, and is an SBA preferred lender. Opus Bank is an Equal Housing Lender. Opus Bank operates 58 banking offices, including two in the Phoenix metropolitan area of Arizona, 32 in California and 24 in the Seattle/Puget Sound region in Washington. For additional information about Opus Bank, please visit our website: www.opusbank.com. To learn more about how Opus Bank is backing businesses, please visit: www.opusbank.com/spotlight.
This press release contains 'forward-looking statements.' These forward-looking statements include information, which is subject to change and subject to risks, uncertainties and assumptions. The forward-looking information presented in this press release is not a guarantee of future events, and actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “intend” or “expect” or variations thereon or similar terminology. All such statements speak only as of the date made, and Opus Bank undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Opus Bank Contacts
Mr. Kevin McBride, 415-683-9580
Senior Managing Director, Technology Banking
Mr. Jeff L. Leonard, 949-251-8146
SVP, Director of Corporate Strategy/Communications