CIBC Innovation Banking provides growth funding to Embotics


Photo courtesy of D3Damon/iStock/Getty Images

Embotics, an Ottawa-based provider of multi-cloud management software, has entered into a credit facility agreement with CIBC Innovation Banking.

No financial terms were released.

Founded in 2006 by President Jay Litkey and led by CEO Michael Torto, Embotics’ platform helps enterprise information technology and managed service providers to automate and control their virtualized and cloud environments.

The funds raised will support the company’s client acquisition and growth in new markets.

Embotics’ investors include U.S. growth equity firm Arrowroot Capital, which invested $12.1 million in 2016.

PE Hub Canada this week interviewed Mark McQueen, the CIBC group’s president and executive managing director, about his team’s North American scaling strategy.

PRESS RELEASE

CIBC Innovation Banking provides growth capital to Canadian hybrid cloud management platform company Embotics

Embotics, a leading provider of multi-cloud management software for public and private cloud environments has entered into a credit facility agreement with CIBC Innovation Banking. Headquartered in Ottawa, ON, Embotics was founded in 2006 with the vision to create a powerful, easy to use, cost-effective, hybrid cloud management platform to enable business agility. Investors include Arrowroot Capital and their platform is used by clients including Nordstorm, NASA and Fanatics.

“With the market demanding a vendor neutral solution to address an increasing need for businesses to connect their cloud management platforms, Embotics is well-positioned to capture those growth opportunities,” said Amy Olah, Executive Director of CIBC Innovation Banking. “Embotics has been recognized as a market leader for their business and technology strategy – CIBC’s capital will help the team accelerate their growth plans to capture clients in new markets.”

“Our mission is to provide intelligent IT automation and controls to our customers so they can optimize their operations and drive down costs,” said Embotics CEO, Michael Torto. “We are continually innovating on our platform to deliver new features and strengthen our position as the market leader. Having CIBC Innovation Banking as our financial partner allows us to focus on client acquisition and growth in new markets.”

About Embotics
Embotics delivers an easy and powerful multi-cloud management platform for enterprise IT and managed service providers to automate and control their virtualized and cloud environments. Embotics vCommander seamlessly integrates into any private, public or hybrid infrastructure to empower enterprises and service providers to deliver ITaaS, intelligent automation and enhanced IT governance and control, without locking them into a single platform. For more information, visit http://www.embotics.com.

For more information about CIBC Innovation Banking, please visit here.

Find new deal opportunities, super-charge your fundraising efforts and track top managers with VCJ. Get your FREE trial! Or subscribe now!