Banking Finance News

CIBC Innovation Banking Provides $7 Million in Growth Capital Financing to Bridgit

CIBC Innovation Banking Provides $7 Million in Growth Capital Financing to Bridgit

CIBC Innovation Banking announced that it has provided an extension to its existing growth capital financing to construction-software company, Bridgit.

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“Post-closing, Amy and her team have continued to support us with their extensive industry experience.”

Bridgit’s workforce planning and optimization platform transforms workforce data into actionable insights, allowing contractors to bid on and staff projects with information at their fingertips. Bridgit is a leading workforce planning product in the construction industry, with 30% of top American contractors utilizing the platform to plan their resourcing needs. Bridgit has released 52 new features in the last year and announced 16 integrations (with companies such as Procore, Autodesk and Trimble), with plans to continue expanding in the future.

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“We are very excited to continue working with Bridgit,” said Amy Olah, CIBC Innovation Banking Managing Director and Head of Canadian Originations. “Since we first started working with the company in 2019, the team at Bridgit has continued to meet the growing needs of its market. Through its easy-to-use workforce management solutions, Bridgit is changing the way construction companies manage their projects and people in an intuitive way.”

“It was important for us to work with a debt provider that understood our vision and we’re excited about the massive opportunity for new and innovative solutions in the construction industry,” said Mallorie Brodie, CEO at Bridgit. “Post-closing, Amy and her team have continued to support us with their extensive industry experience.”

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