Corporate Finance Institute® (CFI) Announces Acquisition of Macabacus and Surpasses 4 Million Course Enrollments
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
[email protected]
SOURCE Corporate Finance Institute (CFI)
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