CIBC Innovation Banking provided $13 million in growth capital financing to Performio, an incentive compensation-software company.

Performio offers a SaaS platform that unlocks the power of incentive compensation management; saving on the time, money and resources required to manage the complexity of paying people on performance. The platform provides real-time insights, streamlines commission calculations, and enables data-driven decision-making to improve sales performance.

“We are impressed by Performio’s innovative platform which offers a scalable approach to incentive compensation planning, calculation, management, and reporting. Performio helps sales teams, sales managers, and executives understand their incentive compensation in ways that drive value for the organization,” said Caroline Tkatschow, CIBC Innovation Banking Executive Director. “We look forward to working with Performio as it continues to innovate in sales performance management.”

“It was important for us to work with a debt provider that understood our vision for growth and our commitment to innovation and product development,” said Luke Teeple, CFO at Performio. “This debt raise provides additional resources in support of our long-term plans to improve our platform, extend our market reach, and explore new avenues for growth.”