CIBC Innovation Banking Provides Growth Capital Financing to Jirav Inc.

By: CIBC Innovation Banking via Business Wire

November 01, 2023 at 09:00 AM EDT

CIBC Innovation Banking announced today that it has provided an upsize to its growth capital financing facility with Jirav Inc. (Jirav). The company will use the financing to further accelerate product development, broaden its customer base across small and medium-sized businesses (SMBs), mid-market companies, and accounting firms while hiring talent to support its growth.

Jirav is a budgeting, forecasting, dashboarding, and analytics solution for small to medium-sized companies and accounting firms. Its software enables customers with real-time reporting and collaboration, helping them understand the company’s financial journey and future objectives.

"At Jirav, we view our customers — whether they are accounting firms or businesses — as pivotal opportunity creators shaping the economy,” said Martin Zych, CEO of Jirav. “Every day, they tell us that strong forecasts and rapid responses are essential for them to navigate everything from AI advancements to global conflicts. Jirav empowers them to build resilient financial forecasts and plan across multiple scenarios, shedding the constraints of error prone outdated technologies. This fresh infusion of capital from CIBC Innovation Banking marks yet another stride in our journey, fortifying our commitment to equipping these opportunity creators with the capability to not just navigate, but to master the tides of change.”

“We’re thrilled to support Jirav’s efforts to empower SMBs and mid-market companies with its all-in-one financial planning and analysis solution,” said Robert Rosen, Managing Director in CIBC Innovation Banking’s Toronto office. “We look forward to supporting the team as it continues to scale.”

About CIBC Innovation Banking

CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, Seattle, Toronto and Vancouver, 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 Jirav

Jirav is a budgeting, forecasting, dashboarding, and analytics solution for small to medium size companies and accounting firms. Building on the expertise of serving over 4,000 companies and accounting firms, Jirav empowers customers with real-time reporting and collaboration, so they can understand where the business has been and where it’s going. Teams can easily explore historicals and accurately forecast bookings, revenue, workforce, expenses, and cash flows. CPAs and accounting firms can take advantage of proven, comprehensive capabilities to help their Client Advisory Services practice reach new heights for clients and achieve higher firm revenue. Jirav has been consistently named a Leader by G2, a customer review-based organization.