CIBC Innovation Banking provided an upsize to its growth capital financing facility with Jirav, which will use the financing to further accelerate product development and 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.
“At Jirav, we view our customers — whether they are accounting firms or businesses — as pivotal opportunity creators shaping the economy,” Martin Zych, CEO of Jirav, said. “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them to build resilient financial forecasts and plan across multiple scenarios, shedding the constraints of error prone outdated technologies.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,” Robert Rosen, managing director in CIBC Innovation Banking’s Toronto office, said. “We look forward to supporting the team as it continues to scale.”
