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SiteDocs Lands Growth Capital Financing from CIBC Innovation Banking (Following Recent Equity Financing)
Thursday, February 21, 2019Company Profile | Follow Company
Vancouver, BC, February 21, 2019--(T-Net)--CIBC Innovation Banking has announced a growth capital financing for SiteDocs Safety Corp.
This debt capital will be used in conjunction with a recent equity financing to create a robust financial platform to continue the lightning growth that has led to its position as one of the leading safety management software companies.
SiteDocs has opened multiple offices across Canada and continues to spread rapidly across North America and beyond, while receiving praise and accolades for its offering and customer service.
Most companies use paper to manage their safety program. This means compliance is challenging, time consuming and often ineffective. SiteDocs provides digital safety management software that makes compliance easier, faster and better thereby saving time, money, and lives.
"SiteDocs is a high growth software company that is taking the important and at times complex processes of safety compliance and translating processes in a simple, efficient and cost effective way. Kent Bergstrom and his team are remarkably driven and enthusiastic, and we couldn't be more excited about helping them achieve their goals for rapid growth," said Joe Timlin, Managing Director with CIBC Innovation Banking in Vancouver.
"We're thrilled to be able to work with a forward-thinking partner like CIBC. As we selected a partner, one of our top priorities was finding someone who was aligned with our vision and brought value and expertise to assist us as we move through new stages of growth. We did not expect to find this at a traditional bank, but the CIBC team was a delightful surprise. They distinguished themselves as a group that understood and accommodated our needs. It never felt like a battle to extract money, it always felt like a partnership to create a successful business venture." said Kent Bergstrom, CEO, SiteDocs Safety Corp.
Previously, SiteDocs was selected as a top 15 Canadian Scale-up companies by Metabridge, which selects the most innovative, high growth technology Scale-ups from hundreds that apply across the country. The company also received the 2018 Innovation award from the Manufacturing Safety Alliance of BC.
About CIBC Innovation Banking
With offices in Denver, Menlo Park, Montreal, Reston, Toronto 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 startup 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 SiteDocs
Established in 2012, SiteDocs is a SaaS based platform that offers a Safety Management Program, equipping companies of all sizes and industries with the ability to maintain, manage and enhance their workplace safety program. Comprised of 50+ employees SiteDocs, is headquartered in Abbotsford, BC and services key markets across Canada and the US.