VC-backed Coconut raises C$1.75 mln from CIBC Innovation Banking

Coconut Software, a Saskatoon-based enterprise scheduling solution, has raised C$1.75 million in debt financing. The funding’s source was CIBC Innovation Banking, the technology lending arm of Canadian financial institution CIBC. Founded in 2007 by CEO Katherine Regnier, Coconut provides a cloud-based SaaS appointment scheduling and lobby management solution that helps banks and credit unions engage with clients. The company will use the deal’s proceeds to support its strategic plan and growth. Coconut is backed by Information Venture Partners, ScaleUp Ventures, StandUp Ventures and Neal Dempsey of Bay Partners, all of which participated in 2017’s C$4.2 million Series A round.

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