03:39:48 EST Thu 02 Feb 2023
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or Name

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Canadian Imperial Bank of Commerce (CIBC)
Symbol CM
Shares Issued 904,692,428
Close 2022-09-19 C$ 64.01
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CIBC Innovation Banking provides financing to Userlane

2022-09-20 11:48 ET - News Release

Mr. Sean Duffy reports


Canadian Imperial Bank of Commerce's CIBC Innovation Banking has provided growth capital financing to Userlane, a software company based in Germany. Userlane will use the funds to expand its suite of products that help companies master enterprise software and associated processes more easily.

"CIBC Innovation Banking's investment will help us focus on our mission of becoming the provider of choice for companies seeking to maximize their investments in enterprise-wide software platforms," said Hartmut Hahn, founder and chief executive officer, Userlane. "In the last year, we've continued to scale our business and grow our team. Now, with CIBC Innovation Banking's support, we'll look to continue this development and position ourselves as a leading player in our market and continue to add mission-critical features that we can offer to all existing customers."

Launched in 2015, Userlane has become a leading digital adoption platform designed to engage employees and clients by providing a seamless software experience. The company's platform offers easy accessibility, direct in-app communication and transparent user analytics, enabling clients to operate software without formal training and support.

"We are delighted to be supporting Userlane as it continues to evolve and grow," said Sean Duffy, managing director of CIBC Innovation Banking's U.K. office. "Its training and education platform has led Userlane to become a leader in its industry, attracting new clients every day. Our team is looking forward to supporting Userlane on this exciting journey."

Userlane is also backed by Five Elms Capital, among others.

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 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.

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