CHICAGO, Nov. 16, 2020 /PRNewswire/ - CIBC Innovation
Banking today announced it has extended a $15 million credit facility to Yello, a provider
of early talent acquisition and recruiting scheduling software. The
credit facility will be used to support Yello's continued growth as
it further establishes itself with organizations seeking to hire
the best and most diverse talent.
Yello is a Chicago-based
portfolio company of JMI Equity and First Analysis. Financing was
provided by CIBC Bank USA, CIBC's
US banking subsidiary.
"Yello is in a fast moving and ever changing market. Substantial
investment is needed to keep ahead of our customers' needs while
driving growth and a pandemic has made this no easier," said
Corey Ferengul, chief executive
officer of Yello. "We are pleased to have CIBC as our partner
giving us great flexibility and helping power our growth
investments."
"Yello's software is further enabling its clients to manage the
recruiting process digitally, which has become even more of a
priority in the pandemic environment," said Andrew Schwartz, managing director and market
lead, CIBC Innovation Banking. "This important growth financing
will support Yello and new CEO Corey
Ferengul as they build on Yello's established reputation in
providing recruiting solutions for their customers."
About Yello
Yello's early talent acquisition platform allows customers to
deliver personalized candidate experiences to every job seeker,
resulting in quality hires and faster fills. The centralized
platform enables recruiters to collaborate with one another to
attract and engage top talent. Key hiring statistics provide
meaningful insights that lead to more accurate, data-driven
decisions while staying on budget. For more information about
Yello, visit https://www.yello.co.
About CIBC
CIBC (NYSE: CM) (TSX: CM) is a leading North American financial
institution with 10 million personal banking, business, public
sector and institutional clients. CIBC offers a full range of
advice, solutions and services in the
United States, across Canada and around the world. In the U.S., CIBC
Bank USA provides commercial
banking, private and personal banking and small business banking
solutions and CIBC Private Wealth offers investment management,
wealth strategies and legacy planning. Visit us at cibc.com/US.
CIBC Innovation Banking delivers strategic advice, cash
management and funding to North American innovation companies at
each stage of their business cycle, from start up to IPO and
beyond. With offices in Atlanta,
Austin, Chicago, Denver, Menlo
Park, Montreal,
Reston, 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 U.S. and
Canada.
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SOURCE CIBC Bank USA