Coconut Software, a Saskatoon, Saskatchewan-based SaaS appointment scheduling and lobby management solutions company, announced it has raised $1.75 million in debt financing from CIBC Innovation Banking.
Coconut Software helps banks and credit unions engage with clients. With the financing, Coconut Software is planning to support its strategic plans and invest in growth.
“CIBC is well-established as the leader in funding SaaS companies in Canada, and we’re happy that they will be there to help fund Coconut’s future growth,” said Coconut’s CEO and founder Katherine Regnier in a statement.
Launched in 2007, Coconut Software is also backed by Information Venture Partners, ScaleUp Ventures, StandUp Ventures and Neal Dempsey of Bay Partners.
Coconut is primarily focused on the financial services industry where high volume, multiple time zones, locations, staff availability, and service offerings require a solution with high levels of security and compliance.
Using Coconut Software’s platform, financial organizations can optimize their workforce with real-time insights into sales and support interactions while providing an effortless customer experience across all touchpoints whether it is online, inside of branches, or via contact centers. And the platform ensures that the right staff member is available at the right time and place — which increases customer loyalty and drives more branch sales.
“CIBC Innovation Banking is excited to partner with a top tier management team that has built a scalable platform that allows clients to personalize relationships with their customers by transforming how they manage appointments. Coconut’s solutions are disrupting the industry standard,” added Robert Rosen, a Managing Director at CIBC Innovation Banking.
