CIBC Innovation Banking extended a $15 million credit facility to Yello, a Chicago-based provider of early talent acquisition and recruiting scheduling software.
The credit facility will be used to support Yello’s continued growth. Yello is a portfolio company of JMI Equity and First Analysis.
“Yello is in a fast moving and ever changing market. Substantial investment is needed to keep ahead of our customers’ needs while driving growth, and a pandemic has made this no easier,” Corey Ferengul, CEO of Yello, said. “We are pleased to have CIBC as our partner giving us great flexibility and helping power our growth investments.”
“Yello’s software is further enabling its clients to manage the recruiting process digitally, which has become even more of a priority in the pandemic environment,” Andrew Schwartz, managing director and market lead of CIBC Innovation Banking, said. “This important growth financing will support Yello and new CEO Corey Ferengul as they build on Yello’s established reputation in providing recruiting solutions for their customers.”