Bridge Bank Provides New $20 Million Credit Facility to AudioEye, Inc.
PHOENIX--(BUSINESS WIRE)--Bridge Bank, a division of Western Alliance Bank, Member FDIC, today announced that its Innovation Banking Group has provided a new $20 million credit facility to industry-leading digital accessibility company AudioEye, Inc. (Nasdaq: AEYE).
The largest portion of the credit facility is a new $12 million term loan that replaces AudioEye's existing term loan. The new deal also includes a $3 million revolver and a $5 million delayed draw term loan for potential 'tuck-in' acquisitions.
AudioEye combines AI-powered automation, custom fixes and developer tools to enable customers to detect and fix more accessibility issues than any other provider. Its automated accessibility platform, expert human services and flexible developer tools are aligned around one goal: Making the internet accessible for the 1 in 6 people globally living with a disability, according to the World Health Organization.
'AudioEye has a unique approach to making the digital world more accessible for everyone through sophisticated AI technology combined with input from the disability community,' said Francesco Corradino, director of Bridge Bank's Innovation Banking Group. 'We're always excited to provide additional flexibility to pursue strategic opportunities through financing solutions for innovative companies like AudioEye.'
'Over the last few quarters, our operating leverage has become clear with material improvements in our credit profile,' said Kelly Georgevich, Chief Financial Officer of AudioEye. 'The new credit facility features a reduced interest rate and added flexibility for strategic opportunities. We look forward to partnering with Bridge Bank and Western Alliance Bank through our next growth phase.'
Read more details about the credit facility in AudioEye's news release.
Bridge Bank's Innovation Banking Group supports technology companies at all stages of their life cycles with customized banking services and credit solutions to help them navigate rapidly changing environments.
About AudioEye
AudioEye exists to ensure the digital future we build is accessible. The gold standard for digital accessibility, AudioEye's comprehensive solution combines industry-leading AI automation technology with expert fixes informed by the disability community. This powerful combination delivers industry-leading protection, ensuring businesses of all sizes — including over 127,000 customers like Samsung, Calvin Klein and Samsonite — meet and exceed compliance standards. With 24 U.S. patents, AudioEye's solution includes 24/7 accessibility monitoring, automated WCAG issue testing and fixes, expert testing, developer tools and legal protection, empowering organizations to confidently create accessible digital experiences for all.
About Bridge Bank
Bridge Bank, a division of Western Alliance Bank, Member FDIC, delivers relationship banking that puts clients at the center of everything. Founded in 2001 in Silicon Valley, Bridge Bank offers a full spectrum of tailored commercial banking solutions with specialized expertise focused on life sciences and technology and innovation companies at every stage in their life cycle, from startup to IPO and beyond. With offices in major tech hubs across the country, Bridge Bank delivers the reach, resources and market expertise that make a difference for its clients. Bridge Bank also serves the private equity and venture capital communities by providing banking solutions for portfolio companies and funds, plus banking solutions for small to mid-size businesses in the Bay Area. Bridge Bank is part of Western Alliance Bancorporation, which has more than $80 billion in assets. Major accolades include being ranked as a top U.S. bank in 2024 by American Banker and Bank Director. For more information, visit Bridge Bank.
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