Invixium picks up $3.5M in debt financing to support growth

Jul 31, 2019, 12:11 pm EDT | Stephen Mayhew

CIBC Innovation Banking has announced US$3.5M in debt financing for biometric access control and workforce digitalization provider Invixium. The company will use the financing to support its growth plans.

This announcement follows recent news that investor McRock Capital has increased its stake in Invixium as part of a financing round that includes investment from Connecticut Innovations and BDC Capital.

“CIBC Innovation Banking is pleased to partner with a top tier management team that has built a robust product suite that is just scratching the surface of the identity management ecosystem,” says Rob Rosen, Managing Director, CIBC Innovation Banking. “Invixium has been at the leading edge of the biometric market and is positioned to be the market leader.”

“Partnering with CIBC Innovation Banking is a huge vote of confidence for our growth trajectory,” adds Shiraz Kapadia, CEO and President of Invixium.

Invixium is headquartered in Ontario, Canada and has an office in India.