CIBC Innovation Banking invests $1.7 mln in VC-backed 7shifts

CIBC Innovation Banking has provided $1.7 million in financing to 7shifts, a Saskatoon-based provider of restaurant employee scheduling solutions. The proceeds will be used to support the company's growth. Founded in 2014, 7shifts helps restaurant operators and employees with tasks like scheduling, team communication and labour cost control. Its software is used by more than 250,000 professionals in over 10,000 locations worldwide. Earlier this month, 7shifts closed a $13.4 million Series A round led by Napier Park Financial Partners and joined by Teamworthy Ventures, Relay Ventures and Peter Harrison.