Bridge Bank Extends $12,000,000 Credit Facility to Ellevation

February 25, 2021

BOSTON

Bridge Bank today announced it has extended a $12,000,000 credit facility to Ellevation, a cloud-based software platform serving nearly 1,000 school districts and supporting more than 1.5 million students across the country.

Ellevation focuses specifically on supporting the fastest-growing population of K-12 students, English language learners by helping school districts manage their English language programs through a compliance, data and instructional planning platform, providing resources to build teacher capacity and student-facing programs to teach academic language.

“We provided the creative structure that Jordan and the team at Ellevation deemed essential,” said Eric Sockol, senior vice president in Bridge Bank’s Technology Banking Group. “We worked together, quickly to build a solution that will allow Ellevation to further extend their solution into the market and build more relationships with school districts and students nationwide.”

“Working with the Technology Banking Group at Bridge Bank has been a pleasant, positive experience,” said Jordan Meranus, co-founder and chief executive officer at Ellevation. “Their focus on providing us with the creative structure we needed, coupled with their expertise in lending to technology companies like ours, really stood out to us.”

The Technology Banking Group at Bridge Bank provides flexible financial solutions to emerging, and mid-to late-stage companies across the U.S. in the technology and innovation sector and works with non-venture and venture- backed companies from inception through IPO and beyond.

About Us

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.