WealthEngine (WE), the leading provider of predictive marketing, analytics and audience development services, announced it has entered into a credit financing agreement for $6.5 million in growth capital from CIBC Innovation Banking.
With this new funding WealthEngine will continue to expand its offering of innovative analytics tools, enabling companies in the for-profit and not-for-profit sectors to access powerful insights to target, segment and engage with their customers and donors.
"The combined growth capital and working capital provided by CIBC Innovation Banking will help us continue to scale our company and to introduce new solutions to the global wealth management and fundraising industries," said PV Bocassum, CEO, WealthEngine Inc.
"We are excited to work with WealthEngine as we deploy creative financing solutions to help further accelerate the company's growth," said Paul Gibson, Managing Director, CIBC Innovation Banking, Virginia. "WealthEngine's unique analytics platform offers tremendous value for the for-profit and non-profit sectors, and we look forward to working with this innovative, rapidly growing organization."
WealthEngine's investors include Novak Biddle Venture Partners, Signatures Capital and Streamlined Ventures.
CIBC Innovation Banking delivers strategic advice and funding to North American technology and innovation clients at each stage of their business cycle, from start up to IPO and beyond. The team has extensive experience and a strong, collaborative approach that extends across CIBC's commercial banking and capital markets businesses in Canada and the U.S.
WealthEngine works with more than 3,000 industry leading financial services, higher education, healthcare systems, advocacy, and high-end hospitality organizations to deeply understand their current and prospective donors and customers. Our cloud-based prospect engagement platform contains WE Profiles for 250M adults in the U.S., enriched with demographics, lifestyle and affinity, charitable/political giving history, real-estate and other wealth signals. WealthEngine also is an ardent supporter of its local community and a member of the 1% Pledge movement. To learn more visit WealthEngine.com.