Business Wire | Dec 1, 2020 09:00AM EST

CIBC Innovation Banking Provides EZ Texting with a US$13 Million Growth Capital Financing

Dec. 01, 2020

SANTA MONICA & MENLO PARK, Calif.--(BUSINESS WIRE)--Dec. 01, 2020--CIBC Innovation Banking is pleased to announce a US$13 million growth capital financing for Santa Monica-based EZ Texting, a cloud-based platform that enables small and medium sized businesses to confidently grow and keep their customers through their innovative messaging platform. EZ Texting plans to utilize this capital to continue building new product features that will bolster its platform and grow its go-to-market teams.

EZ Texting offers promotions and marketing solutions to support businesses of all sizes along with notification solutions for non-profits and government institutions. Over 30,000 businesses and public agencies in the U.S. and Canada use the platform to ensure their customers can confidently reach and engage mobile audiences while remaining in regulatory compliance.

"The team at EZ Texting has done a great job of growing the platform by rooting their product features into a customer's workflow engagement strategy," said Kevin Grossman, Managing Director in CIBC Innovation Banking's Denver office. "We're impressed with the growth of EZ Texting and excited to help accelerate their efforts."

"EZ Texting is looking forward to further innovation across our Sales and Promotion, Alerts and Notifications, Customer Service and Lead Generation product sets to help small and medium businesses have meaningful engagement with their customers using text," said Norman Happ, CEO of EZ Texting. "We are excited to work with CIBC Innovation Banking to fund our strategy and growth."

Existing investors for EZ Texting include Morgan Stanley Expansion Capital, Investor AB and ROCA Partners.

About CIBC Innovation Banking

CIBC Innovation Banking delivers strategic advice, cash management and funding to North American innovation companies at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Chicago, Denver, Menlo Park, Montreal, New York, Reston, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC's commercial banking and capital markets businesses in the U.S. and Canada.

About EZ Texting

EZ Texting?is a SaaS company that delivers the fastest, easiest and most reliable way to connect.?It has served over 160,000 customers and is the #1 SMS platform for business users, setting the?standard for business texting. Our messaging solutions allow businesses to quickly and?effectively reach and engage their mobile audiences. With employees around the world, EZ?Texting is continuously recognized as a Best Place to Work, as well as a top product for small?and mid-market businesses. The company is backed by Morgan Stanley Expansion Capital, Investor AB and ROCA Partners. To find out more, follow us on?Twitter?and?LinkedIn.

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CONTACT: Katarina Milicevic, katarina.milicevic@cibc.com, 416-586-3609