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CIBC Innovation Banking Provides $15MM Debt Financing to Yello

November 18, 2020, 08:45 AM
Filed Under: Staffing Services

CIBC Innovation Banking 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."

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