CFI announces the acquisition of Macabacus, the leading
Microsoft Office Add-In for finance professionals. The combined
business creates the most effective platform for finance training
and development.
VANCOUVER, BC, March 19, 2021 /PRNewswire/ -
Today, Corporate Finance Institute® (CFI), the leading global
provider of financial analyst training and certification programs
announced the acquisition of Macabacus, creating the most
effective and in-depth online finance training platform in the
world. With a shared mission of helping finance professionals
become world-class performers in their jobs, the combined platform
represents the school for the future of finance: hands-on,
practical, and keeping pace with continuous changes in the
industry.
By bringing together the online skills training and
certification programs from CFI and the Microsoft Office add-in
productivity software from Macabacus, the combined entity provides
the highest quality hands-on training and the leading tool kit for
financial modeling, valuation, credit analysis, capital markets,
business intelligence, and data analysis.
As part of this acquisition, Elephant and Arthur Ventures have
made additional investments in CFI, bringing the company's
previously unannounced total funding raised to US $48 million.
Banks, institutions, and finance teams across sectors and
geographies are transitioning to modern financial analyst
practices, while approximately 90% of all finance professionals
lack a certification or designation. Companies and individuals are
struggling to keep up with the expanding breadth of knowledge
required in the industry and the rapid adoption of technology
solutions such as Tableau, Power BI, and others.
CFI now makes solving that problem easier.
"Our mission is to help anyone become a world-class financial
analyst. This requires more than education and certification; it
also requires access to new and powerful tools that give finance
professionals an unfair advantage in performing their jobs," said
CFI's CEO and Co-Founder Tim Vipond.
"By combining CFI's world-leading courses, training, and
certification programs with Macabacus' leading add-ins for MS
Office, we are now taking the definition of a 'world-class
financial analyst' to an entirely new level."
CFI will bring together both companies' offerings to create an
integrated journey for students and active finance practitioners
where they can learn, explore, and practice the most innovative and
advanced financial analysis.
"I'm incredibly excited for our users. They will benefit so much
in this combination with CFI, both in terms of the increased
investment that will go into our products and the access they will
get to CFI training," said Macabacus Founder and CEO Ryan MacGregor. "Our missions are aligned, and
we can have a much bigger impact on the industry by combining our
efforts."
Vipond will lead the combined entity, which has already helped
nearly one million students who have enrolled in over four million
courses learn finance, and MacGregor will serve as Executive Vice
President and Head of Product. The company is growing revenues
rapidly, is profitable, and employs approximately 50 team members
worldwide.
About Corporate Finance Institute® (CFI)
Founded in 2016, CFI is the leading global online finance training
platform. The company is on a mission to help anyone become a
world-class financial analyst. What began as individual courses has
expanded into a series of proprietary certification programs,
including the Financial Modeling & Valuation Analyst (FMVA)®,
the Commercial Banking & Credit Analyst (CBCA)™, the Capital
Markets & Securities Analyst (CMSA)®, and the Business
Intelligence & Data Analyst (BIDA)™. CFI has helped nearly one
million students across 200 countries and territories acquire the
skills and certifications they need to pursue meaningful careers in
finance. The company's state-of-the-art learning platform allows
individuals and businesses to quickly develop their accounting,
finance, and related skills, as they move through learning paths to
become world-class financial analysts in specialized areas. CFI's
website attracts over seven million unique monthly visitors. For
more information, please
visit https://corporatefinanceinstitute.com
About Macabacus
Macabacus was founded in 2008 by Ryan
MacGregor, a former investment banker at Lehman Brothers and
Credit Suisse. Macabacus develops trusted add-in solutions that
dramatically increase Office productivity and are used globally by
finance professionals and others working in multinational firms,
global investment banks, Big 4 accounting firms, corporate finance
teams, and many others. Macabacus has tens of thousands of monthly
and annual subscribers. For more information, please
visit https://macabacus.com
About Elephant
Elephant is a venture capital firm founded in 2015 that invests in
the enterprise software, internet and mobile markets. Elephant has
raised over US $900 million and is a
leading investor in eLearning businesses, with a portfolio that
includes CFI, A Cloud Guru, KnowBe4, and one other unannounced
leading online training platform.
About Arthur Ventures
Based in Minneapolis, Arthur
Ventures leads investments in high-growth, capital-efficient B2B
software companies in every region across North America. Arthur Ventures has raised
$300 million and has invested in
eLearning businesses that include Cybrary, DataCamp and Linux
Academy.
Contact:
Luke Turner, Marketing Manager
Corporate Finance Institute
+1 (800) 817-7539
luke@corporatefinanceinstitute.com
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SOURCE Corporate Finance Institute (CFI)