CIBC Innovation Banking provides growth capital to Altia

CIBC Innovation Banking has invested in Altia, a Colorado Springs, Colorado-based provider of graphical user interface (GIU) software development tools and services.

No financial terms were disclosed. The CIBC group will also provide global banking services.

Founded in 1991, Altia provides GIU solutions to automotive, medical, industrial and consumer electronics companies worldwide. It will use the funds raised to expand its global footprint.

Last year, PE Hub Canada interviewed Mark McQueen, the CIBC group’s president and executive managing director.

PRESS RELEASE

Altia partners with CIBC Innovation Banking to provide global banking services and growth capital

CIBC Innovation Banking announced today a partnership with Altia to provide global banking services and growth capital to fuel Altia’s rapidly growing business – driven by an insatiable need for display graphics software in cars and IoT devices. Altia is a provider of best-in-class graphical user interface design and development tools that support efficient code deployment. Graphics code generated by Altia drives millions of displays worldwide – from automotive instrument clusters and infotainment systems, to thermostats, washing machines and healthcare monitors.

Altia is headquartered in Colorado Springs, Colorado, with offices in Japan and Germany. Its clients include automotive manufacturers and suppliers like Fiat Chrysler Automobiles, Ford Motor Company, General Motors, Honda, Valeo, and Visteon– as well as device manufacturers like Electrolux, Whirlpool, and NordicTrack.

“We are honoured to add Altia – a key member of the growing Colorado Springs technology community – to our portfolio. Throughout a variety of market cycles, the company continues to innovate and to expand its footprint globally,” said Charlie Kelly, Managing Director of CIBC Innovation Banking’s Denver office. “The management team maintains incredibly strong relationships with its customers, helping to drive innovation that meets the market’s needs and is at the forefront of defining new consumer hardware experiences.”

“Our mission is to get the best automotive, medical and consumer interfaces into production in the shortest time on the lowest cost hardware.” said Mike Juran, Co-founder and CEO of Altia. “We are excited to work with the experienced team members at CIBC who understand the unique needs and growth phases of technology companies.”

About CIBC Innovation Banking
With offices in Denver, Menlo Park, Montreal, Toronto, Reston, and Vancouver, CIBC Innovation Banking is a full-service business that 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. CIBC Innovation Banking brings extensive experience and a strong, collaborative team that extends across commercial banking and capital markets in Canada and the U.S.

About Altia, Inc.
Altia is a Colorado Springs, CO based software company providing best-in-class GUI software development tools and services to automotive, medical, industrial and consumer electronics companies around the world.