Mr. Paul Gibson reports
CIBC INNOVATION BANKING ANNOUNCES $40M GROWTH CAPITAL FINANCING FOR CYBERSECURITY PLATFORM PROVIDER HUNTRESS
Canadian Imperial Bank of Commerce's CIBC Innovation Banking has provided $40-million of debt financing to Huntress, a managed cybersecurity platform for small and mid-sized businesses (SMBs). Huntress plans to use the financing for M&A (mergers and acquisitions) opportunities, research, product development, and expansion into international markets across Canada, the United Kingdom, Europe, Australia and New Zealand.
"Huntress is growing faster than ever," said Kyle Hanslovan, chief executive officer of Huntress. "In a market surrounded by increasingly expensive capital, CIBC Innovation Banking's team understood our needs as a high-growth start-up. With their help, we've already made a strategic acquisition, launched new managed security products and more. We're thrilled that CIBC Innovation Banking supports our vision for the future; this investment will help us continue innovating as we further our mission to protect small and mid-sized businesses."
Huntress recently acquired Curricula, an engaging security awareness training platform that uses story-based learning to communicate cyber risk to employees.
"We're just getting started with our build-and-buy strategy to help businesses strengthen their preventive security efforts," said Marcos E. Torres, chief financial officer of Huntress. "With our level of maturity in M&A and deal structuring, we'll continue to acquire and develop assets that solve business and technical problems for our partners."
"The Huntress team continues to generate strong growth throughout North America and is poised to become an international market leader helping small and mid-sized businesses with their security needs," said Paul Gibson, managing director in CIBC Innovation Banking's Reston, Va., office. "Our team looks forward to assisting Huntress with the capital needed to fuel that growth."
The company's existing investors include JMI Equity Partners, Forgepoint Capital and Gula Tech Adventures.
About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and financing to innovation companies across North America, the United Kingdom and select European countries at each stage of their business cycle, from start-up to IPO (initial public offering) and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, Seattle, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC's commercial banking and capital markets businesses in the United States, Canada, the United Kingdom and select European markets.
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