CIBC Innovation Banking completed two separate transactions totaling $16 million for Madwire, a Fort Collins CO-based technology company.
CIBC initially provided $10 million of working capital financing to help support Madwire’s continued operational expansion. Subsequently, CIBC provided an additional $6 million term facility to finance Madwire’s October acquisition of SpaceCraft, a cloud-based website development and management platform located in Austin, TX. This transaction is Madwire’s second in the last 15 months, following the acquisition of payments company, SilverEdge, in 2018.
“Madwire has established itself as a major tech company in Northern Colorado. They have a clear product vision and through their efficient growth, have built a scalable software platform alongside a flexible professional services organization,” said Charlie Kelly, managing director with CIBC Innovation Banking’s Denver office. “Madwire has also capitalized on a strong brand to attract talent.”
CIBC Innovation Banking delivers strategic advice, funding, and cash management to North American innovation companies at each stage of their business cycle.
Madwire is a technology company that provides business management and marketing software and services for SMBs and franchises.
