CIBC Innovation Banking Provides Growth Capital Financing to Work Truck Solutions

TORONTO--(BUSINESS WIRE)--CIBC Innovation Banking announced today that it has provided growth financing to support Work Truck Solutions, a leading provider of software solutions for the commercial vehicle industry.

Work Truck Solutions helps dealerships, original equipment manufacturers, upfitters and distributors optimize their operations through a cloud-native platform that enhances the buying, selling, and maintenance of commercial vehicles. The innovative approach of Work Truck Solutions enables users to streamline processes and leverage data-driven insights to improve customer engagement and operational efficiency.

“We are thrilled by the opportunities ahead in the commercial vehicle industry and remain steadfast in our commitment to supporting our customers as they navigate the complexities of today’s supply chain,” said Aaron Johnson, Chief Executive Officer, Work Truck Solutions. “In line with our commitment, this collaboration with CIBC Innovation Banking underscores our dedication to innovation and growth, providing us with the resources needed to further develop our SaaS platform and expand our market presence.”

“The team at Work Truck Solutions has successfully developed a platform that plays a vital role in the commercial vehicle supply chain, significantly impacting a large and dynamic industry,” said Youssef Kabbani, Managing Director, CIBC Innovation Banking.

“We are delighted to support such a distinguished team at Work Truck Solutions, alongside Rubicon Technology Partners, as they embark on the next phase of growth and continue to expand their innovative platform,” added Niramay, Executive Director, CIBC Innovation Banking.

About CIBC Innovation Banking

CIBC Innovation Banking has 25 years of specialized experience in growth-stage tech and life science companies across North America – a longer track record than most banks. CIBC Innovation Banking now has over $11 billion in funds managed including life sciences, health care, cleantech companies, investors, and entrepreneurs, and has assisted over 700 venture and private equity-backed businesses over the past six and a half years. The bank operates out of 14 global locations in San Francisco, Menlo Park, New York, Toronto, London, Austin, Boston, Chicago, Seattle, Vancouver, Montreal, Atlanta, Reston, and Durham. Connect with us today to start the conversation. Innovationbanking.cibc.com

About Work Truck Solutions

Work Truck Solutions provides a smart technology platform that enables all stakeholders in the commercial vehicle ecosystem - dealers, OEMs, upfitters, and distributors - to efficiently serve the businesses and fleet managers who need work trucks and vans. With innovative solutions covering numerous areas such as one-stop inventory management, operational analytics, and digital marketing, Work Truck Solutions helps those in the commercial vehicle space, no matter their role in the supply chain, increasing visibility and efficiency so businesses can focus on doing their jobs. To learn more about Work Truck Solutions, please visit www.worktrucksolutions.com

About Rubicon Technology Partners

Rubicon Technology Partners is a middle-market private equity firm that invests in enterprise software companies with innovative products and talented management teams to help grow and scale their businesses. Rubicon has over $4 billion in assets under management and is headquartered in Boulder, Colorado with additional offices in New Haven, Connecticut and San Mateo, California. To learn more about Rubicon, please visit www.rubicontp.com.