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Square 1 Bank Announces Credit Facility to Pet360, Inc.

April 20, 2011
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Durham, NC – Square 1 Bank is pleased to announce the extension of a credit facility to leading online pet company, Pet360, Inc. Pet360 helps pet owners with all of their online needs from food and supplies ( www.PetFoodDirect.com ), pet meds and wellness ( www.NationalPetPharmacy.com ), to comprehensive pet information ( www.PETMD.com ).

“We are excited to partner with Square 1 as we dramatically grow our relationships with pet parents across North America. We are keenly focused on providing fundamental consumer needs and exceptional customer service, all at a reasonable cost, and Square 1 clearly values that same approach,” said Joe Falkenstein, Pet360 CFO and VP of Operations. “Like a true team member, they listened and partnered with us to understand our needs and provide a flexible solution to support our continued growth.”

Dan Lee, SVP and Managing Director of Square 1 Bank’s Growth Finance group stated, “We have been very impressed by the quality and depth of the Pet360 management team and business model. They have executed wonderfully, and we are thrilled to team up with them as they roll out the exciting initiatives that will continue their growth trajectory.”

About Square 1

Square 1 Bank is a full service commercial bank dedicated exclusively to serving the financial needs of the venture capital community and entrepreneurs in all stages of growth and expansion. Square 1's expertise, focus and strong capital base provide solid support for its clients' needs. The bank offers tailored products and solutions aided by the latest in technological innovations. To serve its relationships, Square 1 has offices coast to coast in Austin, Boston, Boulder, Durham, McLean, New York, San Diego, Santa Monica, Seattle, and Silicon Valley. For more information, visit www.square1bank.com .

About Pet360

 Pet360 is a company dedicated to pets by connecting community, content, products and services for pet parents at a time when there is great fragmentation of products and information. The company operates three primary sites today: (a) www.PetFoodDirect.com – the most complete pet food & supply retailer online, (b) www.NationalPetPharmacy.com – a fully certified, full service pet pharmacy delivering pet meds, vitamins and comprehensive pet health and wellness products, and (c) www.petMD.com – a leading pet health information resource. The company is headquartered in Plymouth Meeting, PA with operations in Harleysville PA, Miami, FL and Louisville, KY. For more information visit www.Pet360.com .



 


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