CIBC Innovation Banking Announces Growth Capital Facility for SupportLogic

SAN JOSE, CA, November 03, 2022–(BUSINESS WIRE)–CIBC Innovation Banking is pleased to announce a growth capital facility for San Jose-based SupportLogic, Inc. (“SupportLogic”), a support experience (SX) platform designed to proactively improve customer experience and revenue retention.

The SupportLogic platform leverages AI and natural language processing to extract and analyze underlying customer sentiment signals from structured and unstructured data surrounding support interactions. These signals turn into recommended actions that allow managers to prioritize the most critical cases, preemptively predict and prevent escalations, coach agents, and reduce customer churn.

“SupportLogic has done an outstanding job of delivering AI-powered insights that enable support teams to avoid escalations, which have historically proven to be time-consuming and financially costly,” said Youssef Kabbani, Office Manager of CIBC Innovation Banking’s Menlo Park. “The team, led by Founder and CEO Krishna Raja, has been very successful in attracting some of the largest and most complex technology companies to its platform and we are very happy to work with the company as it evolves. to greater heights.”

“SupportLogic enables world-class B2B companies to transform their support experience and brand impressions,” said Krishna Raja, Founder and CEO of SupportLogic. “Working with CIBC Innovation Banking will help us scale our business and expand our market.”

SupportLogic plans to leverage the Growth Capital Facility to continue building new features and products to further assist support teams, management, and executives.

Current SupportLogic investors include Sierra Ventures, Sorenson Ventures, WestBridge Capital Partners and General Catalyst.

About CIBC Innovation Banking

CIBC Innovation Banking provides strategic advice, cash management and financing to innovative companies in North America, the UK and selected European countries at every stage of their business cycle, from start-up to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, Seattle, Toronto and Vancouver, the team has extensive experience and a strong collaborative approach that spans to all of CIBC’s commercial banking services. and capital markets firms in the United States, Canada, United Kingdom and certain European markets.

About SupportLogic

SupportLogic offers the world’s first Support Experience (SX) platform that enables businesses to proactively understand and act on the voice of the customer to build healthy relationships and maximize customer lifetime value. SupportLogic SX uses AI to extract and analyze customer sentiment signals from structured and unstructured data and provides recommendations and collaborative workflows. SupportLogic helps global companies like Databricks, Qlik, Nutanix, Rubrik, and Snowflake prevent customer escalations, reduce churn, and improve the customer support experience.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20221103005137/en/

contacts

Katarina Milicevic, [email protected], 416-784-6108