CIBC Innovation Banking Provides Growth Capital to Drips Holdings, LLC

By: CIBC Innovation Banking via Business Wire

February 28, 2024 at 13:00 PM EST

CIBC Innovation Banking announced today that it has provided growth financing to Drips Holdings, LLC (Drips), an Akron, Ohio-based conversational outreach company that helps organizations orchestrate large scale 1:1 conversations precisely at critical moments in the customer journey. Drips plans to utilize the financing to bolster product development and facilitate expansion into diverse industry verticals within U.S. markets.

In a landscape where traditional outreach methods like cold calls and emails may not reach consumers, Drips starts real conversations by asking customers an engaging question, then continues to engage with human-like AI-powered dialogue over SMS and phone calls.

Since 2016, Drips’ compliance focused managed technology has been leveraged by organizations in highly regulated industries that require the delivery of sensitive data including healthcare payers and providers, insurance companies, financial services, higher education, and more.

“In the midst of an exhilarating transformation within the outbound industry, we’re witnessing a pivotal shift with the potential to redefine customer engagement. However, it's evident that many companies are grappling with the challenge of executing it effectively. This is precisely where Drips steps in, offering our expertise to guide enterprises in embracing an authentic, compliant, and proactive approach. We chose CIBC Innovation Banking to come along side us in our journey and fuel our growth. They exhibited patience and thoughtfulness in understanding our industry and the market opportunity ahead of us,” said Aaron Christopher (A.C.), Drips CEO and Co-Founder.

“We are excited to partner with the Drips team to reach the next phase in their growth cycle and become an integral component in the customer communication cycle,” said John Flemming, CIBC Innovation Banking Managing Director. “It was clear from our early conversations that the Drips team has a unique ambition and skill set to drive enhanced customer communication at scale, and we are proud to help fuel their growth.”

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.

Drips is the pioneer in helping organizations master large-scale 1:1 conversations precisely during critical moments in the customer journey — whether it's preventing service disruptions, averting coverage cancellations, or seizing timely opportunities. Drips’ Conversations as a Service™, powered by human-like AI dialogue, is all about authentic, honest, two-way conversations with every single customer. Drips allows clients to integrate with most CRMs, marketing automation systems, dialers, and call center platforms. It’s all about how you say it.™