CIBC Innovation Banking Supports Harbor Compliance’s Growth Plans With New Strategic Credit Facility
November 03 2021 - 8:00AM
Business Wire
CIBC Innovation Banking is pleased to announce the funding of an
acquisition credit facility for Harbor Business Compliance
Corporation (d/b/a Harbor Compliance). Harbor Compliance is a
technology company that empowers nonprofits and businesses with
licensing, tax, and entity management solutions. Harbor utilized
the new capital to finance its acquisition of Labyrinth, Inc.
Co-founded by Mike Montali and Megan Danz in 2012 and
headquartered in Lancaster, Pennsylvania, Harbor Compliance has a
proprietary software platform which provides efficient workflow and
business process outsourcing services. They enable over 25,000
nonprofits and businesses to maintain compliance through the United
States.
Labyrinth has similarly supported charitable organizations with
fundraising registration services since its founding over 30 years
ago. The unification of the two companies further strengthens the
compliance solutions available to the nonprofit sector.
“Mike, Megan, and the Harbor team have been incredibly efficient
in building their business,” said Charlie Kelly, US Technology
Co-Head, CIBC Innovation Banking. “We were impressed with their
operational and product strategy, and are pleased to be supporting
their vision for continued growth by uniting their existing client
base and technology with the service team and optimized workflows
at Labyrinth.”
“Labyrinth’s exceptional service model and Harbor Compliance’s
technology form an integrated solution that will further simplify
licensing for our clients,” said Mike Montali, CEO, Harbor
Compliance. “With CIBC Innovation Banking’s support, we are
directly enabling our clients to better serve their missions.”
About CIBC Innovation Banking CIBC Innovation Banking
delivers strategic advice, cash management and funding to
innovation companies across North America, the UK, and select
European countries at each stage of their business cycle, from
start up to IPO and beyond. With offices in Atlanta, Austin,
Boston, Chicago, Denver, London, Menlo Park, Montreal, New York,
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.
About Harbor Compliance Harbor Compliance is a technology
company that enables nonprofits and businesses to maintain
compliance throughout the United States. Its software and services
simplify licenses and registrations with federal, state, and local
governments. For more information, visit Harbor Compliance and
Labyrinth Inc..
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version on businesswire.com: https://www.businesswire.com/news/home/20211103005250/en/
Josh Burleton, josh.burleton@cibc.com, 416-304-2712
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