TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
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August 9, 2021
Source: Businesswire
CIBC Innovation Banking is pleased to announce it has provided a $5 million credit facility to Nevada-based Karbon Inc. (“Karbon”), which provides industry-leading practice management software for accounting firms. The company plans to use the facility to support its hiring plans and further invest in its diverse product set.
Founded in 2014, Karbon’s innovative cloud-based solution enables accounting practices to more efficiently manage internal workflows, client interactions, and communications. It currently has employees across the USA with extensive experience in the accounting and software development industries, as well as offices in New Zealand, the UK, and Sydney, Australia.
The workflow software market has historically been dominated by desktop legacy solutions, but the recent forced and immediate shift to ‘work from home’ provided an opportunity for Karbon which saw its active users double in 2020.
“The industry has been experiencing a gradual shift to distributed teams for years, but the pandemic significantly accelerated that trend. Accounting practices with cloud-based workflow versus legacy desktop solutions immediately realized the value of having the flexibility to efficiently work-from-anywhere,” said Stuart McLeod, CEO & Co-Founder of Karbon. “We are pleased to have the support of the CIBC Innovation Banking team to continue building out our product set and become the premium cloud-based workflow solution for accountants.”
The company also recently announced a strategic growth investment from Five Elms Capital, and will be growing its teams in the US, Canada, Australia, New Zealand, and the UK to accelerate development and enhancements of its product set in service of its mission to change the way accounting firms work.
“Stuart, John, and Ian have built a quality and robust team dedicated to meeting the needs of accounting firms and their clients. We are excited to support the company as it continues to scale globally,” said Holly Dungan, Managing Director in CIBC Innovation Banking’s Menlo Park office.
In addition to Five Elms Capital, Karbon’s equity investors also include Blackbird Ventures.
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, Boston, Chicago, Denver, 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.
About Karbon
Karbon is the premium practice management platform for the accounting industry and has become indispensable for firms around the world to support their team and navigate the sudden shift to remote work. Karbon brings planning, clients, work, and communication together in one place, allowing firms that are working remotely to still be all together online. Founded in 2014, Karbon has offices in the US, Australia, New Zealand and the UK. Visit karbonhq.com.
Contacts
Josh Burleton, josh.burleton@cibc.com
