Led · Debt Financing · Mar 2021

Winc operates a direct-to-consumer online subscription service and builds a portfolio of wine brands aimed at younger drinkers. The company launched in 2011 and leverages consumer insights to develop brands such as Summer Water Rose and Folly of the Beast. Winc’s brands are also sold in progressive restaurants and premium retailers nationwide. The company said it has seen a dramatic increase in subscribers since the start of the COVID-19 pandemic. Winc is developing new brands, including a line of health-conscious wines under the Wonderful Wine Co umbrella, and is using its banking relationship to support continued expansion and brand development. Winc, which rebranded from Club W, is a Los Angeles-based startup that has expanded from an online marketplace into a full-fledged alcohol business. The company sources and produces the wines it sells and uses customer "palate profiles" to deliver personalized recommendations. Winc says it can offer bottles for as low as $13 by eliminating middle-men such as importers and wholesalers and sourcing directly from vineyards. Its wines are sold online and distributed offline as well, including being served at restaurants and sold at select retailers. CEO Xander Oxman describes the business as a digitally native approach to the traditional wine-club model focused on delivering more value and a better consumer experience. The company has raised funding to support growth, with total funding now over $30 million. Club W offers personalized wine recommendations based on customers' palates and a new curated selection each month, with bottles starting at $13. The company emphasizes collapsing the supply chain to deliver proprietary wines directly to enthusiasts at value price points. Club W is venture-backed by Bessemer Venture Partners, Shining Capital Holdings and Crosscut Venture Partners. CEO Xander Oxman said the additional financing is a vote of confidence as the company continues to grow and expand. Bridge Bank's Southern California Technology Finance group worked with Club W to deliver a customized financial solution to support its growth. Club W is a Los Angeles, CA-based wine company that built a distribution platform to deliver high-quality wines from around the world at lower prices. It provides individual monthly recommendations for members using its proprietary Palate Profile™ system. Members can also make their own selections, with bottles available from $13. The company was founded in 2011 by Xander Oxman, Geoffrey McFarlane and Brian Smith. Club W raised $9.5M in a Series A round led by Bessemer Venture Partners. The company intends to use the funds for product development, further integration of its supply chain and expansion of marketing initiatives. Club W operates a personalized and curated subscription service for wine, positioning itself as an online community for wine enthusiasts. Founded in 2011, the company aims to simplify discovery by matching curated selections to consumers' personal tastes and removing pretension from wine buying. As part of its growth strategy Club W announced a relocation to Los Angeles and has been associated with incubator Amplify.La. Management cites strong traction and says the new capital will expand reach and better connect with consumers. The company previously closed a $500,000 angel round in early 2012. No revenue or user metrics are disclosed in the articles.

Led · Debt Financing · Mar 2018

NEXT operates an online marketplace that connects shippers and carriers to match freight with available carriers. The company was founded in 2015 by Lidia Yan and Elton Chung and is headquartered in Lynwood, California. NEXT plans to use new funding to hire 150 employees in 2019 and to complete the launch of Relay, a service aimed at addressing port congestion. The logistics sector has faced capacity strains, which NEXT cites as a driver of demand for its services. Financially, the company has now raised a total of $125 million to date, with prior capital including a $21 million round in January 2018. The company declined to disclose the valuation for the new round or whether the financing included any debt. NEXT Trucking operates an online trucking marketplace and mobile app that connects shippers, dispatchers, and owner-operators using intelligent matching based on preferred routes, rates, and other data-driven touch points. The platform targets drivers at small- and medium-sized trucking companies, enabling them to select routes and negotiate pricing directly from their smartphones. Company leadership reports strong adoption among owner-operators and small fleets. The NEXT Trucking family has been in the logistics business for over 15 years and operates one of the largest HDTV distribution centers in Southern California. To support growth and operations, NEXT uses Pacific Mercantile Bank’s depository products, business credit cards, and cash management services and recently secured an $11 million credit facility from the bank. The article also cites a prior $21 million investment led by Sequoia Capital that accelerated the company’s growth. Led by CEO Lidia Yan, Next Trucking operates a technology platform that matches carriers and shippers using routes, pricing, driver behavior and other intelligent matching algorithms. Truckers post their availability on the marketplace and dictate preferences before connecting with shippers. Shippers gain access to a virtual fleet of independent carriers and visibility into shipments via a Shipment Dashboard showing timelines, route information, cost summaries, locations and shipment status. Fleet managers can use the platform to book and dispatch loads and share capacity within the network. The company secured a $21m Series B, signaling continued investor support and capital for growth. Sequoia Capital led the round and will take a board seat through partner Omar Hamoui.

Led · Equity · Jun 2017

Underground Elephant is an online performance-based marketing company that drives sales growth for vertically oriented customer acquisition programs. Led by CEO Jason Kulpa and based in San Diego, the company develops programmatic advertising platforms to bring transparency and efficiency to the buying and selling of structured lead-generation media. The company secured $7.5M in financing from Pacific Mercantile Bank. Pacific Mercantile Bank, a wholly owned subsidiary of Pacific Mercantile Bancorp, also provided a suite of depository products and cash management services. Underground Elephant will use the funds to broaden the reach of its marketing software platform and accelerate customer adoption of its B2B and B2C products. Its products span existing and emerging digital channels. Underground Elephant develops programmatic advertising platforms designed to bring transparency and efficiency to the buying and selling of structured lead-generation media. Its portfolio of enterprise-grade technology solutions aims to enhance connections between enterprises and prospective clients by delivering pathways to organic sales conversations. The company is led by CEO Jason Kulpa and is based in San Diego, CA. Underground Elephant secured a $9M credit facility from Silicon Valley Bank. The company intends to use the funds to expand its customer base and hire new people.

Led · Equity · Nov 2016

Marque Medical operates Marque Urgent Care, a patient-centered network of walk-in clinics that treats a range of non-life-threatening injuries and illnesses and provides general wellness services. The company runs six locations across Orange County and San Diego County, each staffed with experienced, multi-specialty physicians and housed in upscale, modern facilities. Marque Medical is expanding its footprint and plans to open new urgent care clinic locations in Orange County, including recent openings in Mission Viejo and Buena Park. Pacific Mercantile Bank increased the company’s financing to $3.9 million to support those openings and the business’s growing working capital needs. In addition to credit facilities, Marque Medical utilizes Pacific Mercantile Bank’s full suite of cash management services.