CIBC Innovation Banking Provides Growth Capital Financing to SpryPoint

TORONTO--(BUSINESS WIRE)--CIBC Innovation Banking announced today that it has provided a growth-focused credit facility to SpryPoint Services Inc., a leading provider of software for public utilities.

SpryPoint helps utilities transform customer service and operations across a cloud-native platform. SpryPoint's approach to the meter-to-cash lifecycle helps utilities go beyond routine tasks – becoming true partners in the modernization journey to create lasting impact and greater value for their clients.

“We are thrilled to embark on this exciting new relationship with CIBC. Their strong financial expertise and commitment to innovation align perfectly with our vision for growth and commitment to providing industry leading solutions to our clients,” said Kyle Strang, Chief Executive Officer of SpryPoint Services, Inc.

“We are thrilled to work with SpryPoint and look forward to supporting the company’s continued innovation in addressing the complex challenges faced by utility providers,” said Niramay, Executive Director, CIBC Innovation Banking. “SpryPoint has become a key player in the rapidly evolving utility software space, driving efficiency and scalability by tackling the critical modernization challenges faced by today’s utility leaders.”

About CIBC Innovation Banking

CIBC Innovation Banking delivers funding, strategic advice and cash management to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from startup to IPO and beyond. With offices in San Francisco, Menlo Park, New York, London, Toronto, Austin, Boston, Chicago, Seattle, Vancouver, Montreal, Atlanta, Reston, Durham and Denver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking, private banking, wealth management and capital markets businesses.

About SpryPoint Services Inc.

SpryPoint is a leading provider of software for public utilities, focusing on delivering innovative and efficient technologies to enable exceptional customer service and to optimize operations. With a robust product line that addresses everything from customer information systems to field service management, SpryPoint is at the forefront of the digital transformation in the utilities sector. To learn more about SpryPoint, please visit us at sprypoint.com. For further information or inquires: Please contact 1-855-879-7779 or [e-mail].

For more information about SpryPoint, please visit www.sprypoint.com.