CIBC Innovation Banking provided growth financing to Drips Holdings, an Akron, OH-based conversational outreach company that helps organizations orchestrate large scale one-on-one conversations at critical moments in the customer journey. Drips plans to utilize the financing to bolster product development and facilitate expansion into industry verticals within U.S. markets.
Drips starts real conversations by asking customers an question, then continues to engage with human-like, artificial-intelligence-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 firms and higher education organizations.
“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,” Aaron Christopher, CEO and co-founder of Drips, said.
“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,” John Flemming, managing director of CIBC Innovation Banking, said. “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.”
