Prophix Software nabs $10 mln in debt funding from BDC, CIBC
Prophix Software, a Mississauga, Ontario-based provider of corporate performance management software, has secured $10 million in debt financing. The funding was provided by BDC Capital's Growth and Transition Capital group and CIBC Innovation Banking, the technology lending arm of CIBC. Established in 1987, Prophix provides solutions that help mid-market businesses improve profitability and minimize risk by automating budgeting, planning and reporting. It has more than 3,000 customers worldwide. Led by CEO Paul Barber, Prophix will use the deal's proceeds to scale its organization and invest in key innovations and technologies, such as artificial intelligence.
4 April 2019•3 mins read
