The additional capital will be used to support the firm’s initiatives and growth into new regions.
Apptegy’s platform provides a point of communication to keep students and parents up to date on school activities, build school brand awareness and highlight student achievement. The company’s flagship product, Thrillshare, provides school administrators with a portal to manage all digital communications, including text messages, email, social media and mobile apps. Backed by Five Elms Capital, Apptegy serves clients across all 50 states.
“Given the shift toward online learning, it is even more critical for school districts to have digital tools in place to engage with their communities, provide real time updates, key information, and to highlight student achievement without the difficulty of working with multiple technology vendors,” Sara Johnson, managing director in CIBC’s Austin, TX, innovation banking office, said. “We were impressed with Apptegy’s value proposition, best-in-class customer support and long-term product roadmap.”
“We’re excited to work with CIBC Innovation Banking as the team understands what it takes to scale sales and product teams while supporting our growth trajectory,” Jeston George, CEO of Apptegy, said. “This financing facility provides additional runway to support our longer term strategic initiatives including new product roll-outs, international expansion, and acquisition opportunities.”