Market Overview

CIBC Innovation Banking provides debt financing to Yello, Inc.

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CHICAGO, Nov. 16, 2020 /PRNewswire/ - CIBC Innovation Banking today announced it has extended a $15 million credit facility to Yello, a provider of early talent acquisition and recruiting scheduling software. The credit facility will be used to support Yello's continued growth as it further establishes itself with organizations seeking to hire the best and most diverse talent.

Yello is a Chicago-based portfolio company of JMI Equity and First Analysis. Financing was provided by CIBC Bank USA, CIBC's US banking subsidiary.

"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," said Corey Ferengul, chief executive officer of Yello. "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," said Andrew Schwartz, managing director and market lead, CIBC Innovation Banking. "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."

About Yello

Yello's early talent acquisition platform allows customers to deliver personalized candidate experiences to every job seeker, resulting in quality hires and faster fills. The centralized platform enables recruiters to collaborate with one another to attract and engage top talent. Key hiring statistics provide meaningful insights that lead to more accurate, data-driven decisions while staying on budget. For more information about Yello, visit https://www.yello.co.

About CIBC

CIBC (NYSE:CM) (TSX:CM) is a leading North American financial institution with 10 million personal banking, business, public sector and institutional clients. CIBC offers a full range of advice, solutions and services in the United States, across Canada and around the world. In the U.S., CIBC Bank USA provides commercial banking, private and personal banking and small business banking solutions and CIBC Private Wealth offers investment management, wealth strategies and legacy planning. Visit us at cibc.com/US.

CIBC Innovation Banking delivers strategic advice, cash management and funding to North American innovation companies at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Chicago, Denver, Menlo Park, Montreal, Reston, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC's commercial banking and capital markets businesses in the U.S. and Canada.

Cision View original content:http://www.prnewswire.com/news-releases/cibc-innovation-banking-provides-debt-financing-to-yello-inc-301173762.html

SOURCE CIBC Bank USA

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