CIBC Innovation Banking has provided $1 million of debt financing to Sampler, a Toronto-based direct-to-consumer product sampling platform.
CEO Marie Chevrier, who founded Sampler in 2013, said the funding has helped the company to leverage revenue, supporting increased growth and entry into new markets.
Sampler manages sampling programs for consumer-packaged goods companies. Its technology is used by more than 300 brands in over 24 countries.
Earlier this year, Sampler closed a $3 million financing led by BDC Capital’s Women in Technology Fund and Shipfusion Inc.
CIBC Innovation Banking is the technology lending arm of Canadian bank CIBC.
CIBC Innovation Banking Provides Sampler With $1 Million of Growth Capital Financing
CIBC Innovation Banking has announced a $1 million growth capital financing for Sampler. The debt capital follows a recent Series A equity raise and is structured to support Sampler’s growth plans across North America and Europe.
With headquarters in Toronto and offices in New York and Chicago, Sampler is a leading direct-to-consumer product sampling platform which manages product sampling programs for consumer packaged goods companies. They are used by over 300 brands in more than 24 countries and its most notable clients include CPG industry giants Unilever, Henkel, and Kimberly Clark.
“Sampler’s end-to-end digital platform gets product samples into the hands of the target audience both quickly and effectively,” said Amy Olah, Executive Director at CIBC Innovation Banking. “Leading CPG’s no doubt appreciate a direct ROI on their campaigns versus a random freebie that traditionally is difficult to value.”
“I think it’s important for startups to realize that there are other financing options than equity financing,” said Marie Chevrier, CEO at Sampler. “With CIBC, Sampler has been able to leverage our revenue in a way that will allow us to accelerate our growth and expand into new markets.”
About CIBC Innovation Banking
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. CIBC Innovation Banking is a brand name under which CIBC and CIBC Bank USA provide products and services.
Sampler is the leading Direct-to-Consumer product sampling platform helping brands like L’Oréal and Nestlé deliver samples online and gather the insights they need to build one-to-one relationships with consumers. Unlike traditional sampling where brands are often found handing out samples at random, Sampler allows brands to target, track, and measure the sampling program from start to finish. Sampler has worked with over 300 brands reaching over 50 million consumers globally.
For further information: Susan Mocherniak, email@example.com, 416-682-6007