Mr. Eric Laflamme reports

CIBC INNOVATION BANKING PROVIDES $2.5M OF GROWTH CAPITAL TO HIRINGBRANCH

Canadian Imperial Bank of Commerce's CIBC Innovation Banking has provided $2.5-million in growth capital to HiringBranch. The company will use the financing to expand its market reach.

HiringBranch is transforming the way enterprises and contact centres hire at scale with its tailored conversational voice and chat assessment. This approach helps reduce the number of interviews needed by automating the soft skills assessment traditionally evaluated by a person in an interview.

"For too long, hiring has been driven by outdated processes and technology that fail to reflect the realities of today's work force," said Stephane Rivard, co-founder and chief executive officer of HiringBranch. "AI [artificial intelligence] and skills-based hiring are game-changers, but adopting them at scale has been out of reach for most large enterprises and contact centres. That's why we're thrilled to have the support of CIBC Innovation Banking as we unlock the power of soft skills by finally measuring what was once considered immeasurable."

"We are excited to extend our relationship with HiringBranch as it continues its growth and leadership within the human resources space," said Eric Laflamme, managing director, CIBC Innovation Banking. "Our main goal is to provide the company with flexibility for the road ahead."

HiringBranch recently raised $5-million in Series A financing in a round led by Credit Mutuel Equity, with participation from Export Development Canada and Anges Quebec, to scale its innovative Soft Skills AI. HiringBranch was recently recognized with a Lighthouse HR Tech Award for best innovative or emerging tech solution among the top 1 per cent of HR (human resources) technology vendors.

About CIBC Innovation Banking

CIBC Innovation Banking has 25 years of specialized experience in growth-stage tech and life science companies across North America -- a longer record than most banks. CIBC Innovation Banking now has over $11-billion in funds managed, including life sciences, health care, and clean-tech companies, investors and entrepreneurs, and has assisted over 700 venture and private-equity-backed businesses over the past six and a half years. The bank operates out of 14 global locations in San Francisco, Menlo Park, New York, Toronto, London, Austin, Boston, Chicago, Seattle, Vancouver, Montreal, Atlanta, Reston and Durham.

About HiringBranch

Hiring assessments are not new. AI skills assessments are. HiringBranch uses native AI to measure soft skills from conversations. This unique, open-ended approach is the next generation to legacy multiple-choice assessments -- because human skills cannot be measured by A, B or C. Fortune 1000s and contact centres use HiringBranch to reduce interview time by over 80 per cent while achieving mis-hire rates as low as 1 per cent. Founded by Patricia Macleod and Ms. Rivard and headquartered in Canada, HiringBranch proudly serves high-volume hiring companies like Bell Canada and Infosys.