VANCOUVER, British Columbia--(BUSINESS WIRE)--CIBC Innovation Banking is pleased to announce a $2.5 million growth capital financing for Vancouver-based ePACT Network Ltd. The debt capital complements a recent Series A equity raise co-led by Disruption Ventures and Yaletown Partners.
Launched in 2012, ePACT is an online emergency preparedness network allowing users to build support networks, securely store and exchange medical information, and access communication tools for greater interaction and preparation in the event of an emergency.
“ePACT has taken the tedious act of completing paper-based forms for families' emergency and health information, simplified the process and moved it online,” said Kirstin Ritson, Director, CIBC Innovation Banking Vancouver. “We are impressed with what they are doing to connect families and organizations to better share critical information in a secure and timely fashion.”
“It has been great to work with the CIBC Innovation Banking team on this additional financing to help us scale up,” said Christine Sommers, CEO and Co-Founder of ePACT. “The team really understands the needs of growing businesses like ours, and we’re excited to be able to leverage this growth capital for our company, team and product growth going forward.”
About CIBC Innovation Banking
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.
About ePACT Network Ltd.
ePACT is a highly secure, online emergency network used to connect organizations, families and families’ emergency contacts (friends and relatives) for greater interaction, information sharing, preparation and support for potential crises. Families store critical emergency data online, then share it with trusted individuals and organizations. Organizations connect across their community, securely accessing data anytime, anywhere, and sending communications day-to-day or in an emergency. With ePACT, communities reduce risks, improve efficiencies, minimize environmental impacts and enhance the safety and support for all their members. ePACT serves hundreds of organizations across Canada and the US, and is used in over 110 countries worldwide.