CIBC invests in Edsby

CIBC Innovation Banking has provided financing for Edsby.

CIBC Innovation Banking has provided financing for Edsby. No financial terms were disclosed. Based in Richmond Hill, Ontario, Edsby is a cloud-based platform for the K-12 market that incorporates learning management, data aggregation and insightful analytics.

PRESS RELEASE

CIBC Innovation Banking has announced a growth capital financing for Edsby. The growth capital will be used to support the Company’s international expansion and allow the Company to invest in its technology.

Edsby is an innovative, cloud-based platform purpose-built for K-12 that incorporates learning management, data aggregation and insightful analytics. Edsby provides schools, districts and regional governments with better student, teacher and parent engagement, improved educational outcomes and new insights into educational effectiveness.

“We are very excited to be working with the team at Edsby and supporting a group of exceptional entrepreneurs with deep experience in the EdTech ecosystem,” said Amy Olah, Executive Director at CIBC Innovation Banking. “The team at Edsby has done a fantastic job of meeting the needs of their market and developing an engaging and easy-to-use district wide education software,” she added.

“Edsby is very happy to partner with CIBC Innovation Banking to provide us with the working capital needed to expand our footprint in both North America and internationally. We look forward to a long and rewarding relationship,” added John Myers, President of Edsby.

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 Edsby
Edsby develops high performance cloud-based software that blends social networking with class and student management. Edsby was founded in 2010 and is headquartered in Richmond Hill, Ontario. The Edsby learning management system (LMS) offers K-12 school districts an array of online social learning tools–from gradebooks, attendance trackers, and parent-teacher communication features to content management and social classroom interaction–connected to their existing student information systems.