TORONTO--(BUSINESS WIRE)--TribalScale Inc. today announced that the company has successfully exited its restructuring proceeding under the CCAA and is focused on growing capacity to continue its mission of sustainable growth in 2021. TribalScale emerged from creditor protection on January 27, 2021.
“We are very much looking forward to continuing the story of TribalScale in 2021,” says Sheetal Jaitly, CEO, TribalScale. “We have a healthy and strong balance sheet and have already seen considerable growth in our team in the last several months.”
TribalScale Inc. has been in creditor protection since May 2020. Over the past year, TribalScale, with the help of its legal advisors, Weisz Fell Kour LLP, has cleaned up its balance sheet and revamped its operations to ensure long-term viability of the business. TribalScale emerges a leaner and more efficient business with renewed capability to take the business into 2021 and beyond.
Management would like to thank and recognize its employees whose dedication, talents, and belief in TribalScale’s future were key to the success of the company’s restructuring.
TribalScale will continue to serve its clients by providing innovative and effective digital solutions and building best-in-class digital products. In the wake of the COVID-19 pandemic, TribalScale has witnessed considerable growth in their team and client network and is currently working on multiple projects that will allow the company to grow sustainably.
Founded in 2015, TribalScale has been a trusted partner and collaborator of some of the world’s largest enterprises and startups and develops digital products that transform organizations. The company has closed over $81 million of funding in five years and continues to have support from its customers. Their customers range across industries such as Financial Institutions, Media and Sports companies, and Transportation providers.
This news comes in the wake of many recent initiatives and accomplishments of the company, including:
- TribalScale has set up a Thought Leadership Workshop series inviting companies and organizations to register for free learning workshops on topics ranging from Product Design Discovery to Agile DevOps and Agile working methods;
- TribalScale supported the launch of The 100K Pledge, an initiative committed to the economic empowerment of BIPOC communities, by designing and developing the platform. The platform has received pledges totaling approximately $46 billion.
To learn more about TribalScale, visit their website at https://www.tribalscale.com/.
About TribalScale: Founded in 2015, TribalScale helps local businesses to the world’s largest enterprises identify strategic opportunities to design, build, and release cutting-edge digital solutions. A unique team of skilled individuals, TribalScale operates with the mission to “right the future”, empowering businesses to grow through transformation, building products, establishing a brand, or supporting from the back-end. In its five years of existence TribalScale has amassed over 75 partners world-wide, working with clients such as Nissan, the PGA Tour, iHeart Radio, Radio.com, and John Hancock.
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