CIBC Innovation Banking has provided debt financing to Boston-based Shorelight, an enrollment and performance management company focused on international education. No financial terms were disclosed. CIBC Innovation Banking is the technology lending arm of Canadian bank CIBC.
November 2, 2021
CIBC Innovation Banking is pleased to announce a new debt financing for Boston-based Shorelight, an enrollment and performance management platform that drives international student success at top universities. Shorelight plans to use the capital to further invest in automated, self-service tools for students, counselors and universities engaged on its platform.
Shorelight, supported by its proprietary technology, provides international students access to top U.S. educational institutions, and supports them through the entire student journey. From selecting a university, arriving on campus or engaging online from their home country, and progressing through to graduation and beginning their careers, Shorelight’s student enrollment, outcomes, and performance management platform enables student success at scale.
“Our mission is to help U.S. universities to educate the world so that a more diverse student population can invent, prosper and lead in the generations to come,” said Tom Dretler, CEO of Shorelight. “We are uniquely positioned to respond to the enormous global demand for a transformative university experience, and CIBC’s financing supports our ability to accelerate our impact going forward.”
“CIBC Innovation Banking is pleased to help Shorelight with its growth goals and core mission to drive improved outcomes in education for both students and universities through innovation,” said Andy Schwartz, Managing Director in CIBC Innovation Banking’s Chicago Office. “We observed the strong partnerships Shorelight has with its university partners and students, and the unique industry experience of its management team and board, and we look forward to continuing to work with their team by providing tailored financing solutions and treasury management services.”
About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, London, Menlo Park, Montreal, New York, 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.
Shorelight is reinventing the international education experience for both students and universities. In partnership with leading U.S. institutions, we build innovative degree programs—whether on campus or cloud-based, in the U.S. or students’ home countries—that help students thrive and create a new generation of successful, globally minded alumni.