Malcolm Locke, CFO of UK-based B2B software service company Egress, sits down to discuss Brexit, expanding to North America and why the UK is still attracting investments. He’s joined by CIBC Innovation Banking’s Managing Director for UK & Europe, Sean Duffy, who adds his valuable expertise to the conversation. In a post Brexit and high-inflation environment, how can UK based firms grow and expand? Listen to this episode to find out. Access to talent is critical Malcolm says that Brexit has impacted software companies' access to talent. The European job market has traditionally been critical for talent acquisition, so UK based companies are re-evaluating their strategies. And while they can’t easily recruit from Europe, they also can’t easily send their trained employees to these markets either. That’s why many UK based companies are turning their attention across the pond to the  North American market. It's about efficiency, not growth The era of ‘free money’ is over, and so is the mentality of growth at all costs. Malcolm and Sean say that investors are looking for efficiency. They will invest in companies that are using their capital wisely and making their cash impactful. There is still an active funding market Despite the current market conditions, especially those in the UK, there is still funding to be had. As Sean says, money can’t just sit around. Companies need to have high parameters and show investors they aren’t cash burners. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking. CIBC London Branch (Reg. no. 141285) is authorised by the Prudential Regulation Authority and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Registered at 150 Cheapside, London EC2V 6ET.

Maria Pacella has over two decades of experience investing in emerging growth technologies, and thinks that the best venture capitalists have a range of experiences gained through working in different roles. As an investor, Maria looks for three things: people, product and pent-up demand. She would prefer to invest in a strong team and founder with a smaller market than one with a large market and weak team, and brings this people-first approach to everything she does. In this episode, join host Michael Hainsworth as he and Maria dive into the Canadian investment landscape, what the current economic climate means for venture capital, and why now is the best time to start a business. It's all about the people. Maria's journey to venture capital was anything but straightforward, but she embraced the learning opportunities along the way. She emphasizes that your career is shaped more by what you gain from the journey, rather than formal education alone. Additionally, she advocates for corporate cultures that prioritize diversity of thought in decision-making, believing that such cultures flourish. People, product, and pent-up demand. A mentor once shared valuable advice with Pacella - a good investment comprises three essential elements: people, product, and pent-up demand. Taking this guidance to heart, she seeks out products backed by exceptional teams with smart capital allocation strategies. She also looks for products that offer tangible value propositions and address pressing problems. Especially in the current challenging climate, entrepreneurs and products that meet these criteria are more likely to attract investment and achieve success. Now is the best time to start a business. In today's economic climate, the era of "free money" has come to an end. Entrepreneurs now face greater challenges in securing capital, while investors have become more discerning with their investments. Pacella believes that this situation calls for businesses to be capital efficient and deeply focused on their mission and value proposition. Companies that can thrive amidst these conditions are well-positioned for future growth and success. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.

Angela Tran didn’t set out to be a venture capitalist; she wanted to be an engineer. However, she's leveraged the skills she learned as an engineer to help build Version One Ventures with partner Boris Wertz, a venture capital firm that has invested in some of today's biggest start-ups. Angela uses her background to approach problems from a unique perspective to find and invest in companies in their very earliest stages. She looks for founders who are driven by problems they themselves have experienced- and who will stop at nothing to solve them. Open to Opportunities Angela's journey toward her current role involved embracing every opportunity that came her way. She never turned down meetings, believing that each encounter could lead to valuable connections. Angela emphasizes the significance of the people she has met along the way and the  pivotal role they have had in shaping her career. Know Your Mission Angela and Boris share a strong inclination toward mission-driven founders who strive to address immediate problems. d She observes that many founders tend to focus on macro trends and problems that lack the imperative for change. In the absence of reliable metrics during early-stage investments, Angela and Boris instead concentrate on assessing the potential impact a company can have on the world. They focus on  “who” and “why now” principles. Think outside the box When she first met Boris, Angela created a dataset to try to uncover what startups would be successful. While it didn’t work- Boris appreciated her out-of-the-box thinking.. When approached by entrepreneurs, Angela is drawn to individuals who exhibit that same determined drive to solve problems in innovative and captivating ways. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking

In the business world, it’s never been more important for companies to build a brand that’s trustworthy, credible and authentic. Considering realness is the basis for her business model, StoryTap co-founder Bernadette Butler lives and breathes by this maxim. StoryTap turns consumers into evangelists—not by using fancy, high-quality video content, but through videos that consumers submit themselves. Offered now in nine countries, the patented video platform is revolutionizing the online customer journey, bridging the gap between the in-person experience and the online experience. In this episode, Bernadette explains why she believes the secret to StoryTap’s success is applying authenticity to the business model every step of the way. Harnessing authenticity One of the major truisms that StoryTap is tapping into (no pun intended) is the fact that consumers today are craving authenticity above all else. Any company can manufacture a highly edited video that conveys a picture-perfect brand identity, but consumers want to truly understand how a product can add value to their life. As Bernadette noted, people want to see real people, telling real stories, and StoryTap’s success is living proof of this. Learn to love failure As someone who has been through the experience of launching her own startup, Bernadette is skeptical of any founder who says they found success right out of the gate. A true over-achiever, she initially railed against the notion of failure, but as she gained experience, it became clear that failure was simply an unavoidable part of the process. Now, Bernadette says she loves failing because it serves as the key to unlocking the next level of business growth. Find the right co-pilot Since failure is an inevitable aspect of almost any business venture, it’s important to have the right people in your corner. When it comes to weathering the storms of startup life, Bernadette is grateful to have her co-founder Sean Braacx by her side. With an entirely different skill set from Bernadette, Sean brings a new perspective to the table, which can accelerate the brainstorming process. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.

Since it spun out from the wildly popular online media company TechCrunch in 2015, Crunchbase has been blazing its own trail. The company recently raised $50 million in a Series D round, and it comes at a difficult time for raising funds—not just for B2B software as a service, but for the industry as a whole. Nobody knows that better than Crunchbase’s CEO, Jager McConnell. In this episode, Michael and Jager explore how he managed to raise the funds, how he managed the uncertainty, and how his experience at Salesforce helped him drive Crunchbase to the level of success it's seen so far. Michael and Jager discuss the company’s latest funding round, the importance of giving back to the community, and some of the toughest lessons he’s learned while building an enterprise product. Set realistic business goals It’s been a difficult time for growth equity rounds. However, according to Jager, the decimation of multiples is a good thing for the ecosystem. When valuations are hyper inflated, the gap between a company’s current revenue and where it’s valued forces them to pursue aggressive growth at all costs. That’s why Jager believes it’s better for the entire ecosystem to set realistic valuations and achievable goals, rather than chasing unsustainable levels of growth. Focus on efficiency and measured growth Jager compares the times we find ourselves in now to the dot-com crash of the early 2000s. Looking back, it was the companies that focused on rebuilding with efficiency and measured growth that came out on top, and he believes the same will be true of today. Ultimately, the great reset will enable us all to build back stronger and take advantage of new, more interesting opportunities in the future. Give back to the community During his time at Salesforce, Jager learned about the value of giving back to the community. With its Pledge 1% program and regular charitable giving practices, Crunchbase is taking a similar approach. As someone who considers himself a social-driven individual, Jager has made it part of his mission as CEO to lead by example and champion charitable causes, inclusion and diversity. CIBC Innovation Banking is a trusted financial partner to entrepreneurs and investors. Get in touch with our team at cibc.com/innovationbanking.

The pandemic’s impact on startups, growth-stage companies and late-stage organizations continues, and geopolitical issues have also had a dramatic impact on the private equity markets. No one knows this better than Ran Ding. Ran co-leads B2B growth equity investments at Norwest, where he focuses on partnering with founder managed or capital efficient businesses looking to scale from double digit revenues to triple digit revenues. Norwest is a multi-stage investment firm that has delivered top quartile returns over the past 60 years, and seen its fair share of economic cycles. Ran cut his teeth more than a decade ago during the last financial crisis, and shares his perspective on the similarities he sees today.

In this episode, Michael Hainsworth sits down with Tom Dretler, the co-founder and CEO of Shorelight. Founded nearly a decade ago, the company matches international students with universities in the United States, and helps them succeed socially and academically. During the episode, Tom shares how he had to go back to school—metaphorically speaking—when the pandemic collapsed demand for international education opportunities in 2020. He also explains why the economic downturn that followed has led Shorelight to revisit the way it plans on funding its future.

If you've ever filled out a survey online, there’s a good chance you've used technology created by Montréal-based company Potloc. The consumer research company extracts consumer insights by reaching niche audiences through social networks. In this episode, Michael sits down with Potloc’s Co-Founder and CEO Rodolphe Barrere. After co-founding the company in 2014, he and the team raised more than $58 million in capital. Today, Potloc has more than 500 clients served by three offices around the world, and Rodolphe says unicorn status is now on the horizon. During their discussion, Rodolphe dives into some of the secrets to his success including firing himself every six months.

Often, the most valuable insights into startup strategy and execution come from early-stage investors. For burgeoning entrepreneurs, having a chance to learn the ropes from a seasoned founder can be invaluable when it comes to guiding the company towards sustainable growth and longevity. In this episode, Michael sits down with someone who knows all about this. As the Head of Operating Platform at Jump Capital, Jason and his team work closely with founders to help them build and scale effectively in their formative years. During the episode, Jason explains how the firm’s overall mission is to invest in early stage companies, partnering with the founders early on in their journey of building the company so they can be with them throughout the entire lifecycle of the business. Jason shares some of the most common mistakes made by new entrepreneurs, how to establish effective growth expectations, and more key insights about startup life. Make the most of mistakes When it comes to building a new company from the ground up, mistakes are inevitable. Instead of aiming to achieve the impossible task of avoiding mistakes altogether, Jason suggests learning to quickly pivot and learn from any missteps along the way. Having someone on your side who has been through the founder’s journey can also help you make fewer mistakes overall, while minimizing the impact of those you can’t avoid. Opt for sustainable growth In the early stages of a company’s development, focusing on growth should be a key priority. However, Jason reminds us that prioritizing growth at all costs can lead to some pretty detrimental consequences in the long run. For new founders, Jason recommends avoiding unrealistic goals and instead focusing on smart, sustainable growth to ensure the company has longevity into the future. Focus on people Jason’s number one tip for entrepreneurs and early stage CEOs is to make people your top priority. In other words, if you hope to see your company flourish and succeed in the long run, it’s important to dedicate a significant chunk of your time to hiring and retaining top talent. Spending the extra time it takes to motivate, guide and communicate with your team to help them bring your vision to life will ultimately pay dividends for years to come. CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from startup to IPO and beyond. Get in touch with our team at cibc.com/innovationbanking. This episode of The CIBC Innovation Banking Podcast was produced by Quill.

There comes a time when some startup founders need to turn over the reins of their company to someone new. Some founders may hold on for too long and ultimately fail to accelerate the company’s growth, and others may move too fast and miss out on a chance to capitalize on the first mover advantage. In this episode, Michael sits down with Hootsuite’s new CEO, Tom Keiser, to discuss his plans for continuing to grow the company now that he’s at the helm and further build on what founder Ryan Holmes created. During his career, Tom has more than quadrupled the valuation of Zendesk, re-platformed the parent company of Victoria's Secret and The Gap for e-commerce, and most recently, he’s stepped into the role of CEO at Hootsuite to scale up the social media management platform. During the episode, Tom explains how he’s applying lessons from his past career experiences to his current role at Hootsuite, his plans for taking the platform to the next level, and much more. Keep up a cadence During his time working in retail, Tom learned the value of maintaining a regular and rigorous cadence when planning for the future. When it comes to taking your business’s temperature through key metrics and signs of success, it’s not enough to check in once a quarter or even once a month. Tom adheres to a weekly or bi-weekly rhythm of checking in on the core metrics of the business to ensure short-term and long-term goals are on track. Lose the limits One major difference Tom noticed when he made the leap from retail to technology was the general lack of constraints in the tech world. While the retail world tends to be limited in a physical sense based on things like geographical space or supply chain issues, technology makes it possible to innovate much more rapidly without being held back by capacity limits. Since the tech world essentially affords infinite possibilities for the future, Tom looks for talent who live according to this limitless mindset. Skate to the puck When it comes to Tom’s overall strategy for taking Hootsuite to the next level, he plans on helping the company continue to evolve in tandem with the social media industry. By keeping his finger on the pulse of new and emerging social platforms, Tom and the Hootsuite team are skating where the puck goes to maintain alignment with the major players within the space. CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from startup to IPO and beyond. Get in touch with our team at cibc.com/innovationbanking. This episode of The CIBC Innovation Banking Podcast was produced by Quill.